$2,018 Closing Credit*
$169,900
3 Beds
•2 Full Baths
Listing Office: RE/MAX LakeTime Realty London
Is 40701, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 40701 was a Seller's Market.
Key Takeaway
40701 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 40701, KY
How much do homes in 40701, KY cost?
Median Sold Price
$210,666
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,332(+4.6%)
Key Takeaway
Homes in 40701 have sold for 4.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86K | - | N/A |
| 2 Bedrooms | $107.9K | $128K | +18.6% |
| 3 Bedrooms | $195K | $200K | +2.6% |
| 4 Bedrooms | $235K | $287K | +22.1% |
| 5+ Bedrooms | $305K | $449.5K | +47.4% |
Summary: 40701 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 22.1%, and 5+ bedroom homes increased by 47.4%.
Median Sold Price Compared To Nearby Zip Codes
| 40701 | $201.3K | $210.6K | +4.6% |
| 40744 | $221.2K | $231K | +4.4% |
Housing Supply in 40701, KY
How many homes are available in 40701, KY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 122 | 112 | -8.2% |
Summary: The 40701 real estate market had 112 homes for sale in November 2024, a 8.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 74 | 67 | -9.5% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The 40701 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 15 | -42.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 40701, you may be able to get a good deal. 86.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 40701 in November 2024, down by 42.3% month-over-month. Of the 15 sold homes, 87% were sold under asking, 7% were sold at asking, and 7% were sold over asking.
Days on Market for 40701, KY
How long does it take to sell a home in 40701, KY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 43 Days | 31 Days | -28.1% |
Summary: Homes in 40701 had an average of 31 days on market in Nov 2024, down by 28.1% compared to last year.
Breakdown of Home Sale Times
8 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 40701 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 40701; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% 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.