Is Lexington-Fayette Northeast, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lexington-Fayette Northeast has remained a Seller's Market.
Housing Prices in Lexington-Fayette Northeast, KY
How much do homes in Lexington-Fayette Northeast, KY cost?
Median Sold Price
$354,930
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lexington-Fayette Northeast was $354,930 in May 2024, up 5.5% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $177.2K | $198.7K | +12.1% |
3 Bedrooms | $268.8K | $299.6K | +11.5% |
4 Bedrooms | $430K | $445K | +3.5% |
5+ Bedrooms | $550K | $589.4K | +7.2% |
Summary: Lexington-Fayette Northeast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
Ford-Boonesborough | $397.5K | $455K | +14.5% |
Lexington-Fayette Central | $287.7K | $310.3K | +7.9% |
Lexington-Fayette | $295.4K | $314.9K | +6.6% |
Lexington | $295.4K | $314.8K | +6.6% |
Lexington-Fayette Northeast | $336.3K | $354.9K | +5.5% |
Housing Supply in Lexington-Fayette Northeast, KY
How many homes are available in Lexington-Fayette Northeast, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
224 | 228 | +1.8% |
Summary: The Lexington-Fayette Northeast real estate market had 228 homes for sale in May 2024, a 1.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 18 | +63.6% |
3 Bedrooms | 106 | 98 | -7.5% |
4 Bedrooms | 74 | 74 | 0.0% |
5+ Bedrooms | 33 | 38 | +15.2% |
Summary: The Lexington-Fayette Northeast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 63.6%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
73 | 63 | -13.7% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Lexington-Fayette Northeast in May 2024, down by 13.7% month-over-month. Of the 63 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% were sold over asking.
Days on Market for Lexington-Fayette Northeast, KY
How long does it take to sell a home in Lexington-Fayette Northeast, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 21 Days | -10.9% |
Summary: Homes in Lexington-Fayette Northeast had an average of 21 days on market in May 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 63 homes were sold in Lexington-Fayette Northeast; 78% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.