Is Liberty Area, 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, Liberty Area has remained a Seller's Market.
Key Takeaway
Liberty Area is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Liberty Area, KY
How much do homes in Liberty Area, KY cost?
Median Sold Price
$288,500
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Liberty Area have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in Liberty Area was $288,500 in May 2024, down 5.4% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $237.7K | $250K | +5.2% |
| 3 Bedrooms | $263.7K | $273.2K | +3.6% |
| 4 Bedrooms | $475K | $470K | -1.1% |
| 5+ Bedrooms | $622.5K | $725K | +16.5% |
Summary: Liberty Area 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 5.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Hamburg | $579.5K | $600K | +3.5% |
| Liberty Area | $305K | $288.5K | -5.4% |
Housing Supply in Liberty Area, KY
How many homes are available in Liberty Area, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 38 | -5.0% |
Summary: The Liberty Area real estate market had 38 homes for sale in May 2024, a 5.0% decrease 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 21 | 15 | -28.6% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Liberty Area 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 remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Liberty Area, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Liberty Area in May 2024, down by 26.7% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Liberty Area, KY
How long does it take to sell a home in Liberty Area, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 27 Days | +3.6% |
Summary: Homes in Liberty Area had an average of 27 days on market in May 2024, up by 3.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Liberty Area are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Liberty Area; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% 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.