Is Lexington-Fayette Southwest, 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 Southwest has remained a Seller's Market.
Housing Prices in Lexington-Fayette Southwest, KY
How much do homes in Lexington-Fayette Southwest, KY cost?
Median Sold Price
$341,583
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lexington-Fayette Southwest was $341,583 in March 2024, up 4.6% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $89K | - | N/A |
2 Bedrooms | $215K | $250K | +16.3% |
3 Bedrooms | $282K | $310K | +9.9% |
4 Bedrooms | $408K | $425K | +4.2% |
5+ Bedrooms | $608K | $595K | -2.1% |
Summary: Lexington-Fayette Southwest 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 16.3%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
Lexington-Fayette Central | $291.1K | $306.6K | +5.3% |
Lexington | $295K | $310.6K | +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 Southwest, KY
How many homes are available in Lexington-Fayette Southwest, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
96 | 97 | +1.0% |
Summary: The Lexington-Fayette Southwest real estate market had 97 homes for sale in March 2024, a 1.0% 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 | 6 | 7 | +16.7% |
3 Bedrooms | 52 | 47 | -9.6% |
4 Bedrooms | 30 | 37 | +23.3% |
5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Lexington-Fayette Southwest 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 increased by 16.7%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 33 | -10.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Lexington-Fayette Southwest in March 2024, down by 10.8% month-over-month. Of the 33 sold homes, 48% were sold under asking, 24% were sold at asking, and 27% were sold over asking.
Days on Market for Lexington-Fayette Southwest, KY
How long does it take to sell a home in Lexington-Fayette Southwest, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 10 Days | -24.9% |
Summary: Homes in Lexington-Fayette Southwest had an average of 10 days on market in Mar 2024, down by 24.9% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Lexington-Fayette Southwest; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.