Is Prospect, 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, Prospect has remained a Seller's Market.
Key Takeaway
Prospect is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prospect, KY
How much do homes in Prospect, KY cost?
Median Sold Price
$680,611
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Prospect have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Prospect was $680,611 in May 2024, up 4.5% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | $125K | -15.0% |
| 2 Bedrooms | $246K | $288.8K | +17.4% |
| 3 Bedrooms | $525K | $572.5K | +9.0% |
| 4 Bedrooms | $655.3K | $713.7K | +8.9% |
| 5+ Bedrooms | $860K | $965K | +12.2% |
Summary: Prospect housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 12.2%.
Median Sold Price Compared To Nearby Cities
| Prospect | $650K | $680.6K | +4.7% |
| Prospect | $651K | $680.6K | +4.5% |
| Northeast Jefferson | $440K | $451.3K | +2.6% |
| East Jefferson | $368.1K | $377.2K | +2.5% |
Housing Supply in Prospect, KY
How many homes are available in Prospect, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 112 | 138 | +23.2% |
Summary: The Prospect real estate market had 138 homes for sale in May 2024, a 23.2% 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 | 14 | 19 | +35.7% |
| 3 Bedrooms | 32 | 41 | +28.1% |
| 4 Bedrooms | 35 | 40 | +14.3% |
| 5+ Bedrooms | 31 | 38 | +22.6% |
Summary: The Prospect 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 35.7%, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 22.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 33 | +37.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prospect, you may be able to get a good deal. 42.4% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Prospect in May 2024, up by 37.5% month-over-month. Of the 33 sold homes, 42% were sold under asking, 39% were sold at asking, and 18% were sold over asking.
Days on Market for Prospect, KY
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search Multiple Listing Service. Real estate listings held by other Brokerage firms are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. IDX 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. Information deemed reliable but not guaranteed. Copyright © 2024 Greater Louisville Association of Realtors. All Rights Reserved.
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.