Is 40502, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 40502 has remained a Seller's Market.
Housing Prices in 40502, KY
How much do homes in 40502, KY cost?
Median Sold Price
$501,375
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 40502 was $501,375 in March 2024, up 1.1% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151.1K | $167K | +10.5% |
2 Bedrooms | $250K | $299K | +19.6% |
3 Bedrooms | $425K | $438.5K | +3.2% |
4 Bedrooms | $631K | $662.5K | +5.0% |
5+ Bedrooms | $805K | $829K | +3.0% |
Summary: 40502 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 3%.
Housing Supply in 40502, KY
How many homes are available in 40502, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
73 | 95 | +30.1% |
Summary: The 40502 real estate market had 95 homes for sale in March 2024, a 30.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 8 | 14 | +75.0% |
3 Bedrooms | 27 | 31 | +14.8% |
4 Bedrooms | 28 | 36 | +28.6% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The 40502 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 23 | +43.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 40502 in March 2024, up by 43.8% month-over-month. Of the 23 sold homes, 61% were sold under asking, 9% were sold at asking, and 30% were sold over asking.
Days on Market for 40502, KY
How long does it take to sell a home in 40502, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 24 Days | -36.2% |
Summary: Homes in 40502 had an average of 24 days on market in Mar 2024, down by 36.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in 40502; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.