Is 40505, KY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 40505 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 40505 has remained a Seller's Market.

Key Takeaway

40505 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 40505, KY

How much do homes in 40505, KY cost?

Median Sold Price

$225,000

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,100(+4.7%)

Key Takeaway

Homes in 40505 have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in 40505 was $225,000 in October 2024, up 4.7% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $75K$115K
+53.3%
2 $155K$179K
+15.5%
3 $214.9K$228.3K
+6.2%
4 $238.5K$251.2K
+5.3%
5+ $272K$285K
+4.8%

Summary: 40505 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.3%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Zip Codes

40511
+8.8%
40505
+4.7%
40509
+2.9%
40508
-6.4%

Housing Supply in 40505, KY

How many homes are available in 40505, KY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7986+8.9%

Summary: The 40505 real estate market had 86 homes for sale in October 2024, a 8.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1412
-14.3%
3 4650
+8.7%
4 1722
+29.4%
5+ 22
0.0%

Summary: The 40505 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2127+28.6%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 40505, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in 40505 in October 2024, up by 28.6% month-over-month. Of the 27 sold homes, 67% were sold under asking, 15% were sold at asking, and 19% were sold over asking.

Days on Market for 40505, KY

How long does it take to sell a home in 40505, KY?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days21 Days-3.3%

Summary: Homes in 40505 had an average of 21 days on market in Oct 2024, down by 3.3% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 40505 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 27 homes were sold in 40505; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 40505, KY

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