Is Fayette County, 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, Fayette County has remained a Seller's Market.
Housing Prices in Fayette County, KY
How much do homes in Fayette County, KY cost?
Median Sold Price
$310,597
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Fayette County was $310,597 in March 2024, up 5.3% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151.1K | $175K | +15.8% |
2 Bedrooms | $190.3K | $210.3K | +10.5% |
3 Bedrooms | $265K | $280K | +5.7% |
4 Bedrooms | $389.3K | $408.8K | +5.0% |
5+ Bedrooms | $570K | $556.4K | -2.4% |
Summary: Fayette County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.8%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Counties
Bourbon County | $195K | $229K | +17.4% |
Scott County | $279.9K | $305K | +8.9% |
Clark County | $215K | $233.9K | +8.8% |
Jessamine County | $295K | $316.5K | +7.3% |
Fayette County | $295K | $310.5K | +5.3% |
Housing Supply in Fayette County, KY
How many homes are available in Fayette County, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
783 | 872 | +11.4% |
Summary: The Fayette County real estate market had 872 homes for sale in March 2024, a 11.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 12 | +9.1% |
2 Bedrooms | 91 | 100 | +9.9% |
3 Bedrooms | 357 | 384 | +7.6% |
4 Bedrooms | 239 | 279 | +16.7% |
5+ Bedrooms | 85 | 97 | +14.1% |
Summary: The Fayette County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 14.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
228 | 241 | +5.7% |
Asking Price vs. Sold Price
102 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
73 Homes Were Sold
Over Asking
Summary: A total of 241 homes were sold or pending in Fayette County in March 2024, up by 5.7% month-over-month. Of the 241 sold homes, 42% were sold under asking, 27% were sold at asking, and 30% were sold over asking.
Days on Market for Fayette County, KY
How long does it take to sell a home in Fayette County, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 24 Days | +11.6% |
Summary: Homes in Fayette County had an average of 24 days on market in Mar 2024, up by 11.6% compared to last year.
Breakdown of Home Sale Times
182 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 241 homes were sold in Fayette County; 76% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.