$7,005 Closing Credit*
$589,900
3 Beds
•3 Full Baths
Listing Office: Bluegrass Sotheby's International Realty
Is 40502, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 40502 has remained a Seller's Market.
Key Takeaway
40502 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 40502, KY
How much do homes in 40502, KY cost?
Median Sold Price
$555,500
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$48,500(+9.6%)
Key Takeaway
Homes in 40502 have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in 40502 was $555,500 in November 2024, up 9.6% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.4K | $155K | -5.7% |
| 2 Bedrooms | $279.7K | $299.5K | +7.1% |
| 3 Bedrooms | $460K | $475K | +3.3% |
| 4 Bedrooms | $612.5K | $691.7K | +12.9% |
| 5+ Bedrooms | $798.5K | $872.5K | +9.3% |
Summary: 40502 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 9.3%.
Housing Supply in 40502, KY
How many homes are available in 40502, KY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 102 | 89 | -12.7% |
Summary: The 40502 real estate market had 89 homes for sale in November 2024, a 12.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 31 | 28 | -9.7% |
| 4 Bedrooms | 41 | 28 | -31.7% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The 40502 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes decreased by 31.7%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 40502, you may be able to get a good deal. 63% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 40502 in November 2024, down by 15.6% month-over-month. Of the 27 sold homes, 63% were sold under asking, 15% were sold at asking, and 22% were sold over asking.
Days on Market for 40502, KY
How long does it take to sell a home in 40502, KY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 25 Days | +14.0% |
Summary: Homes in 40502 had an average of 25 days on market in Nov 2024, up by 14% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 40502 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 27 homes were sold in 40502; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% 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.