Is Lexington-Fayette Southeast, 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 Southeast has remained a Seller's Market.
Housing Prices in Lexington-Fayette Southeast, KY
How much do homes in Lexington-Fayette Southeast, KY cost?
Median Sold Price
$284,348
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lexington-Fayette Southeast was $284,348 in May 2024, up 7.4% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105.6K | $117.5K | +11.2% |
2 Bedrooms | $182.5K | $192.9K | +5.7% |
3 Bedrooms | $250K | $263.5K | +5.4% |
4 Bedrooms | $356.2K | $388K | +8.9% |
5+ Bedrooms | $500.2K | $525K | +5.0% |
Summary: Lexington-Fayette Southeast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
Ford-Boonesborough | $397.5K | $455K | +14.5% |
Nicholasville | $292K | $326.1K | +11.7% |
Lexington-Fayette Southeast | $264.6K | $284.3K | +7.4% |
Lexington | $295.4K | $314.8K | +6.6% |
Lexington-Fayette | $295.4K | $314.9K | +6.6% |
Housing Supply in Lexington-Fayette Southeast, KY
How many homes are available in Lexington-Fayette Southeast, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
225 | 235 | +4.4% |
Summary: The Lexington-Fayette Southeast real estate market had 235 homes for sale in May 2024, a 4.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 29 | 26 | -10.3% |
3 Bedrooms | 92 | 93 | +1.1% |
4 Bedrooms | 69 | 80 | +15.9% |
5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The Lexington-Fayette Southeast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 77 | +6.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Lexington-Fayette Southeast in May 2024, up by 6.9% month-over-month. Of the 77 sold homes, 34% were sold under asking, 30% were sold at asking, and 36% were sold over asking.
Days on Market for Lexington-Fayette Southeast, KY
How long does it take to sell a home in Lexington-Fayette Southeast, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
7 Days | 17 Days | +126.1% |
Summary: Homes in Lexington-Fayette Southeast had an average of 17 days on market in May 2024, up by 126.1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 77 homes were sold in Lexington-Fayette Southeast; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.