Is London, 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, London has remained a Seller's Market.
Key Takeaway
London is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in London, KY
How much do homes in London, KY cost?
Median Sold Price
$217,750
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in London have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in London was $217,750 in May 2024, up 3.7% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $151.8K | +90.1% |
| 2 Bedrooms | $130K | $138.7K | +6.7% |
| 3 Bedrooms | $200K | $210K | +5.0% |
| 4 Bedrooms | $287K | $275.5K | -4.0% |
| 5+ Bedrooms | $408.5K | $385K | -5.8% |
Summary: London housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 90.1%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 5.8%.
Housing Supply in London, KY
How many homes are available in London, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 140 | 155 | +10.7% |
Summary: The London real estate market had 155 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 87 | 92 | +5.7% |
| 4 Bedrooms | 26 | 30 | +15.4% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The London 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 20%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 46 | +109.1% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in London, you may be able to get a good deal. 58.7% of homes here sold below asking price last month.
Summary: A total of 46 homes were sold or pending in London in May 2024, up by 109.1% month-over-month. Of the 46 sold homes, 59% were sold under asking, 24% were sold at asking, and 17% were sold over asking.
Days on Market for London, KY
How long does it take to sell a home in London, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 61 Days | +40.8% |
Summary: Homes in London had an average of 61 days on market in May 2024, up by 40.8% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in London are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 46 homes were sold in London; 63% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 22% 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.