$3,384 Closing Credit*
$285,000
3 Beds
•2 Full Baths
Listing Office: Lifstyl Real Estate
Is Lexington-Fayette Southwest, 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, Lexington-Fayette Southwest has remained a Seller's Market.
Key Takeaway
Lexington-Fayette Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington-Fayette Southwest, KY
How much do homes in Lexington-Fayette Southwest, KY cost?
Median Sold Price
$350,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,250(+0.4%)
Key Takeaway
The sold price of homes in Lexington-Fayette Southwest has remained the same since last year.
Summary: The median home sold price in Lexington-Fayette Southwest was $350,000 in October 2024, up 0.4% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $227.9K | -8.8% |
| 3 Bedrooms | $305.2K | $310K | +1.6% |
| 4 Bedrooms | $422.5K | $450K | +6.5% |
| 5+ Bedrooms | $610K | $664K | +8.9% |
Summary: Lexington-Fayette Southwest 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 decreased by 8.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Lexington-Fayette Northwest | $280.5K | $313.3K | +11.7% |
| Lexington-Fayette Central | $297.8K | $312.5K | +4.9% |
| Lexington | $310K | $324.7K | +4.8% |
| Lexington-Fayette | $310K | $324.9K | +4.8% |
| Lexington-Fayette Southwest | $348.7K | $350K | 0.4% |
Housing Supply in Lexington-Fayette Southwest, KY
How many homes are available in Lexington-Fayette Southwest, KY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 115 | 125 | +8.7% |
Summary: The Lexington-Fayette Southwest real estate market had 125 homes for sale in October 2024, a 8.7% 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 | 10 | 8 | -20.0% |
| 3 Bedrooms | 53 | 64 | +20.8% |
| 4 Bedrooms | 35 | 38 | +8.6% |
| 5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The Lexington-Fayette Southwest 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 20%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 35 | +6.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington-Fayette Southwest, you may be able to get a good deal. 62.9% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Lexington-Fayette Southwest in October 2024, up by 6.1% month-over-month. Of the 35 sold homes, 63% were sold under asking, 23% were sold at asking, and 14% were sold over asking.
Days on Market for Lexington-Fayette Southwest, KY
How long does it take to sell a home in Lexington-Fayette Southwest, KY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 14 Days | -2.0% |
Summary: Homes in Lexington-Fayette Southwest had an average of 14 days on market in Oct 2024, down by 2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington-Fayette Southwest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 35 homes were sold in Lexington-Fayette Southwest; 86% of homes were sold within 30 days, 9% 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.