Is 40509, KY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 40509 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 40509 has remained a Seller's Market.

Key Takeaway

40509 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 40509, KY

How much do homes in 40509, KY cost?

Median Sold Price

$390,887

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,987(+2.9%)

Key Takeaway

Homes in 40509 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 40509 was $390,887 in October 2024, up 2.9% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $197.5K$205.5K
+4.1%
3 $306.5K$324.5K
+5.8%
4 $439.4K$465K
+5.8%
5+ $573.2K$589.4K
+2.8%

Summary: 40509 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 2.8%.

Median Sold Price Compared To Nearby Zip Codes

40502
+11.1%
40517
+9.0%
40515
+6.8%
40509
+2.9%

Housing Supply in 40509, KY

How many homes are available in 40509, KY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
192200+4.2%

Summary: The 40509 real estate market had 200 homes for sale in October 2024, a 4.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1815
-16.7%
3 7471
-4.1%
4 7176
+7.0%
5+ 2938
+31.0%

Summary: The 40509 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 16.7%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 31%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4761+29.8%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 40509, you may be able to get a good deal. 59% of homes here sold below asking price last month.

Summary: A total of 61 homes were sold or pending in 40509 in October 2024, up by 29.8% month-over-month. Of the 61 sold homes, 59% were sold under asking, 10% were sold at asking, and 31% were sold over asking.

Days on Market for 40509, KY

How long does it take to sell a home in 40509, KY?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days31 Days-5.5%

Summary: Homes in 40509 had an average of 31 days on market in Oct 2024, down by 5.5% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 40509 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 61 homes were sold in 40509; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 7% 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 5 Days Ago

Newest Listings in 40509, KY

Nearby Markets to 40509, KY