Is Lexington-Fayette Northwest, 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 Northwest has remained a Seller's Market.
Key Takeaway
Lexington-Fayette Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington-Fayette Northwest, KY
How much do homes in Lexington-Fayette Northwest, KY cost?
Median Sold Price
$284,237
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lexington-Fayette Northwest have sold for 3% more than they did a year ago.
Summary: The median home sold price in Lexington-Fayette Northwest was $284,237 in March 2024, up 3% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $215K | 0% |
| 3 Bedrooms | $255K | $265K | +3.9% |
| 4 Bedrooms | $349K | $356.1K | +2.0% |
| 5+ Bedrooms | $447.4K | $457.4K | +2.2% |
Summary: Lexington-Fayette Northwest 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 did not change, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Lexington-Fayette Northeast | $325.8K | $350.8K | +7.6% |
| Lexington-Fayette Central | $291.1K | $306.6K | +5.3% |
| Lexington-Fayette | $294.9K | $310.3K | +5.2% |
| Lexington-Fayette Southwest | $326.7K | $341.5K | +4.6% |
| Lexington-Fayette Northwest | $275.8K | $284.2K | +3.0% |
Housing Supply in Lexington-Fayette Northwest, KY
How many homes are available in Lexington-Fayette Northwest, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 93 | 102 | +9.7% |
Summary: The Lexington-Fayette Northwest real estate market had 102 homes for sale in March 2024, a 9.7% increase 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 51 | 55 | +7.8% |
| 4 Bedrooms | 30 | 34 | +13.3% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Lexington-Fayette Northwest 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 remained the same, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington-Fayette Northwest, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in Lexington-Fayette Northwest in March 2024, the same as the previous month. Of the 22 sold homes, 27% were sold under asking, 45% were sold at asking, and 27% were sold over asking.
Days on Market for Lexington-Fayette Northwest, KY
How long does it take to sell a home in Lexington-Fayette Northwest, KY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 38 Days | -22.8% |
Summary: Homes in Lexington-Fayette Northwest had an average of 38 days on market in Mar 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington-Fayette Northwest are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Lexington-Fayette Northwest; 73% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% 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.