$12,000
0.08 Acres
Land
Listing Office: RE/MAX Elite Lexington
Is Bourbon County, 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, Bourbon County has remained a Seller's Market.
Key Takeaway
Bourbon County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bourbon County, KY
How much do homes in Bourbon County, KY cost?
Median Sold Price
$236,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,500(+5.1%)
Key Takeaway
Homes in Bourbon County have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Bourbon County was $236,000 in October 2024, up 5.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $103.7K | +38.3% |
| 2 Bedrooms | $140K | $158K | +12.9% |
| 3 Bedrooms | $215K | $225K | +4.7% |
| 4 Bedrooms | $274.7K | $329.5K | +19.9% |
| 5+ Bedrooms | $462.5K | $521.2K | +12.7% |
Summary: Bourbon County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Counties
| Nicholas County | $137.5K | $179K | +30.2% |
| Harrison County | $186K | $232.5K | +25.0% |
| Scott County | $304K | $335.2K | +10.3% |
| Bourbon County | $224.5K | $236K | +5.1% |
| Fayette County | $310.1K | $325K | +4.8% |
Housing Supply in Bourbon County, KY
How many homes are available in Bourbon County, KY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 59 | +18.0% |
Summary: The Bourbon County real estate market had 59 homes for sale in October 2024, a 18.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 25 | 28 | +12.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Bourbon County 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 increased by 22.2%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bourbon County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Bourbon County in October 2024, up by 33.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% were sold over asking.
Days on Market for Bourbon County, KY
How long does it take to sell a home in Bourbon County, KY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 41 Days | +243.8% |
Summary: Homes in Bourbon County had an average of 41 days on market in Oct 2024, up by 243.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Bourbon County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Bourbon County; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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.