$6,876 Closing Credit*
$579,000
4 Beds
•2 Full Baths
Listing Office: New Doors Real Estate
Is 40511, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 40511 has remained a Seller's Market.
Key Takeaway
40511 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 40511, KY
How much do homes in 40511, KY cost?
Median Sold Price
$319,370
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,740(+8.8%)
Key Takeaway
Homes in 40511 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 40511 was $319,370 in October 2024, up 8.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $265K | N/A |
| 2 Bedrooms | $202.5K | $300K | +48.1% |
| 3 Bedrooms | $268K | $291.1K | +8.6% |
| 4 Bedrooms | $354.9K | $365K | +2.8% |
| 5+ Bedrooms | $462.5K | $469.1K | +1.4% |
Summary: 40511 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 48.1%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 1.4%.
Housing Supply in 40511, KY
How many homes are available in 40511, KY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 111 | 103 | -7.2% |
Summary: The 40511 real estate market had 103 homes for sale in October 2024, a 7.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 49 | 49 | 0.0% |
| 4 Bedrooms | 48 | 38 | -20.8% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The 40511 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 150%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 24 | -35.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 40511, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 24 homes were sold or pending in 40511 in October 2024, down by 35.1% month-over-month. Of the 24 sold homes, 33% were sold under asking, 42% were sold at asking, and 25% were sold over asking.
Days on Market for 40511, KY
How long does it take to sell a home in 40511, KY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 13 Days | -37.7% |
Summary: Homes in 40511 had an average of 13 days on market in Oct 2024, down by 37.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 40511 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 40511; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.