Is 40514, 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, 40514 has remained a Seller's Market.
Key Takeaway
40514 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 40514, KY
How much do homes in 40514, KY cost?
Median Sold Price
$330,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 40514 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 40514 was $330,500 in March 2024, up 4.9% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $190K | $195K | +2.6% |
| 3 Bedrooms | $289.5K | $313K | +8.1% |
| 4 Bedrooms | $395K | $383.5K | -2.9% |
| 5+ Bedrooms | $465K | $460K | -1.1% |
Summary: 40514 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 increased by 2.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 1.1%.
Housing Supply in 40514, KY
How many homes are available in 40514, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 32 | -22.0% |
Summary: The 40514 real estate market had 32 homes for sale in March 2024, a 22.0% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 26 | 17 | -34.6% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 40514 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 decreased by 100%, 3 bedroom homes decreased by 34.6%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 11 | -38.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 40514, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 40514 in March 2024, down by 38.9% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% were sold over asking.
Days on Market for 40514, KY
How long does it take to sell a home in 40514, KY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 12 Days | -56.2% |
Summary: Homes in 40514 had an average of 12 days on market in Mar 2024, down by 56.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 40514 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in 40514; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% 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.