Is Menifee County, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Menifee County has remained a Seller's Market.
Key Takeaway
Menifee County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Menifee County, KY
How much do homes in Menifee County, KY cost?
Median Sold Price
$160,000
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Menifee County have sold for 14.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $78.5K | -28.6% |
| 2 Bedrooms | $129.1K | $143K | +10.8% |
| 3 Bedrooms | $160K | $184.9K | +15.6% |
| 4 Bedrooms | $152.5K | $405K | +165.6% |
| 5+ Bedrooms | - | $230K | N/A |
Summary: Menifee County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 165.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
| Menifee County | $139.9K | $160K | +14.4% |
| Powell County | $175K | $184K | +5.1% |
| Bath County | $146K | $152K | +4.1% |
| Montgomery County | $204.9K | $213K | +4.0% |
Housing Supply in Menifee County, KY
How many homes are available in Menifee County, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 39 | +8.3% |
Summary: The Menifee County real estate market had 39 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 14 | 16 | +14.3% |
| 3 Bedrooms | 15 | 13 | -13.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Menifee County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Menifee County, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Menifee County in May 2024, down by 12.5% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Menifee County, KY
How long does it take to sell a home in Menifee County, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 65 Days | 118 Days | +82.0% |
Summary: Homes in Menifee County had an average of 118 days on market in May 2024, up by 82% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Menifee County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 7 homes were sold in Menifee County; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.