Is 40701, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 40701 has remained a Seller's Market.
Key Takeaway
40701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 40701, KY
How much do homes in 40701, KY cost?
Median Sold Price
$214,500
$49/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 40701 have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in 40701 was $214,500 in April 2024, up 13.5% from last year, and the median price per square foot was $49.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $86K | -25.2% |
| 2 Bedrooms | $112.5K | $122K | +8.4% |
| 3 Bedrooms | $181K | $205K | +13.3% |
| 4 Bedrooms | $229K | $240K | +4.8% |
| 5+ Bedrooms | $310K | $343.9K | +10.9% |
Summary: 40701 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.2%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Zip Codes
| 40701 | $189K | $214.5K | +13.5% |
| 40744 | $210K | $225K | +7.1% |
| 40740 | $162.5K | $162.7K | 0.2% |
Housing Supply in 40701, KY
How many homes are available in 40701, KY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 85 | 87 | +2.4% |
Summary: The 40701 real estate market had 87 homes for sale in April 2024, a 2.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 58 | 53 | -8.6% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 40701 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 41.7%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 40701, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 40701 in April 2024, up by 5.9% month-over-month. Of the 18 sold homes, 78% were sold under asking, 22% were sold at asking, and 0% were sold over asking.
Days on Market for 40701, KY
How long does it take to sell a home in 40701, KY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 65 Days | +19.6% |
Summary: Homes in 40701 had an average of 65 days on market in Apr 2024, up by 19.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 40701 has remained consistent over time.
Summary: During April 2024, 18 homes were sold in 40701; 33% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 28% 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.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.