Is 40511, 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, 40511 has remained a Seller's Market.
Key Takeaway
40511 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 40511, KY
How much do homes in 40511, KY cost?
Median Sold Price
$297,074
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 40511 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 40511 was $297,074 in March 2024, up 6.1% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.5K | - | N/A |
| 2 Bedrooms | $240K | $210K | -12.5% |
| 3 Bedrooms | $260K | $275K | +5.8% |
| 4 Bedrooms | $349.9K | $351K | 0.3% |
| 5+ Bedrooms | $459.9K | $462.5K | +0.6% |
Summary: 40511 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 0.6%.
Housing Supply in 40511, KY
How many homes are available in 40511, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 | 110 | +19.6% |
Summary: The 40511 real estate market had 110 homes for sale in March 2024, a 19.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 53 | 61 | +15.1% |
| 4 Bedrooms | 28 | 35 | +25.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 40511 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 16.7%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 40511, expect to pay close to the asking price. 44% of homes here sold near the asking price last month.
Summary: A total of 25 homes were sold or pending in 40511 in March 2024, up by 13.6% month-over-month. Of the 25 sold homes, 32% were sold under asking, 44% were sold at asking, and 24% were sold over asking.
Days on Market for 40511, KY
How long does it take to sell a home in 40511, KY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 35 Days | -20.9% |
Summary: Homes in 40511 had an average of 35 days on market in Mar 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 40511 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 40511; 72% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 20% 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.