Is Lexington-Fayette Northeast, 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 Northeast has remained a Seller's Market.
Housing Prices in Lexington-Fayette Northeast, KY
How much do homes in Lexington-Fayette Northeast, KY cost?
Median Sold Price
$350,800
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lexington-Fayette Northeast was $350,800 in March 2024, up 7.6% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $175K | $200K | +14.3% |
3 Bedrooms | $260.2K | $291K | +11.8% |
4 Bedrooms | $428.6K | $445K | +3.8% |
5+ Bedrooms | $549.9K | $595K | +8.2% |
Summary: Lexington-Fayette Northeast 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 14.3%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 8.2%.
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% |
Housing Supply in Lexington-Fayette Northeast, KY
How many homes are available in Lexington-Fayette Northeast, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
211 | 206 | -2.4% |
Summary: The Lexington-Fayette Northeast real estate market had 206 homes for sale in March 2024, a 2.4% 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 | 16 | 9 | -43.8% |
3 Bedrooms | 94 | 97 | +3.2% |
4 Bedrooms | 70 | 71 | +1.4% |
5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Lexington-Fayette Northeast 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 43.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
70 | 68 | -2.9% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 68 homes were sold or pending in Lexington-Fayette Northeast in March 2024, down by 2.9% month-over-month. Of the 68 sold homes, 37% were sold under asking, 34% were sold at asking, and 29% were sold over asking.
Days on Market for Lexington-Fayette Northeast, KY
How long does it take to sell a home in Lexington-Fayette Northeast, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
12 Days | 23 Days | +89.1% |
Summary: Homes in Lexington-Fayette Northeast had an average of 23 days on market in Mar 2024, up by 89.1% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 68 homes were sold in Lexington-Fayette Northeast; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.