Is Lexington-Fayette Southeast, KY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lexington-Fayette Southeast is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Lexington-Fayette Southeast has remained a Seller's Market.

Key Takeaway

Lexington-Fayette Southeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lexington-Fayette Southeast, KY

How much do homes in Lexington-Fayette Southeast, KY cost?

Median Sold Price

$299,900

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,150(+8.4%)

Key Takeaway

Homes in Lexington-Fayette Southeast have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Lexington-Fayette Southeast was $299,900 in November 2024, up 8.4% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $115K$139.5K
+21.3%
2 $180K$205K
+13.9%
3 $259.9K$265.6K
+2.2%
4 $377.9K$400K
+5.8%
5+ $540K$564.3K
+4.5%

Summary: Lexington-Fayette Southeast housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.3%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Nicholasville
+10.8%
Lexington-Fayette Southeast
+8.4%
Lexington-Fayette
+4.7%
Lexington
+4.6%

Housing Supply in Lexington-Fayette Southeast, KY

How many homes are available in Lexington-Fayette Southeast, KY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
206191-7.3%

Summary: The Lexington-Fayette Southeast real estate market had 191 homes for sale in November 2024, a 7.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 2528
+12.0%
3 9083
-7.8%
4 6753
-20.9%
5+ 2326
+13.0%

Summary: The Lexington-Fayette Southeast 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 increased by 12%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes decreased by 20.9%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5949-16.9%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer49%33%18%

Key Takeaway

If you're buying a home in Lexington-Fayette Southeast, you may be able to get a good deal. 49% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in Lexington-Fayette Southeast in November 2024, down by 16.9% month-over-month. Of the 49 sold homes, 49% were sold under asking, 33% were sold at asking, and 18% were sold over asking.

Days on Market for Lexington-Fayette Southeast, KY

How long does it take to sell a home in Lexington-Fayette Southeast, KY?

Average Sale Time

Nov 2023Nov 2024CHANGE
13 Days19 Days+48.4%

Summary: Homes in Lexington-Fayette Southeast had an average of 19 days on market in Nov 2024, up by 48.4% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times79%17%

Key Takeaway

Many homes in Lexington-Fayette Southeast are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 49 homes were sold in Lexington-Fayette Southeast; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% 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 18 Days Ago

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