Is Lexington-Fayette, 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, Lexington-Fayette has remained a Seller's Market.
Key Takeaway
Lexington-Fayette is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington-Fayette, KY
How much do homes in Lexington-Fayette, KY cost?
Median Sold Price
$310,314
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lexington-Fayette have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Lexington-Fayette was $310,314 in March 2024, up 5.2% 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 | $190.1K | $210.3K | +10.6% |
| 3 Bedrooms | $264.9K | $280K | +5.7% |
| 4 Bedrooms | $388.2K | $408.5K | +5.2% |
| 5+ Bedrooms | $569.8K | $556.4K | -2.4% |
Summary: Lexington-Fayette 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 10.6%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Lexington-Fayette Northeast | $325.8K | $350.8K | +7.6% |
| Lexington | $295K | $310.6K | +5.3% |
| Lexington-Fayette Central | $291.1K | $306.6K | +5.3% |
| Lexington-Fayette | $294.9K | $310.3K | +5.2% |
| Lexington-Fayette Southeast | $264.9K | $278.7K | +5.2% |
Housing Supply in Lexington-Fayette, KY
How many homes are available in Lexington-Fayette, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 782 | 870 | +11.3% |
Summary: The Lexington-Fayette real estate market had 870 homes for sale in March 2024, a 11.3% 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 | 356 | 383 | +7.6% |
| 4 Bedrooms | 239 | 279 | +16.7% |
| 5+ Bedrooms | 85 | 96 | +12.9% |
Summary: The Lexington-Fayette 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 12.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 228 | 240 | +5.3% |
Asking Price vs. Sold Price
102 Homes Were Sold
Under Asking
65 Homes Were Sold
At Asking
73 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington-Fayette, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.
Summary: A total of 240 homes were sold or pending in Lexington-Fayette in March 2024, up by 5.3% month-over-month. Of the 240 sold homes, 43% were sold under asking, 27% were sold at asking, and 30% were sold over asking.
Days on Market for Lexington-Fayette, KY
How long does it take to sell a home in Lexington-Fayette, KY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +11.3% |
Summary: Homes in Lexington-Fayette had an average of 24 days on market in Mar 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
181 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington-Fayette are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 240 homes were sold in Lexington-Fayette; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% 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 Program of Metro Search Multiple Listing Service. Real estate listings held by other Brokerage firms are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. 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. Information deemed reliable but not guaranteed. Copyright © 2024 Greater Louisville Association of Realtors. All Rights Reserved.