Is Lexington-Fayette, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lexington-Fayette has remained a Seller's Market.
Housing Prices in Lexington-Fayette, KY
How much do homes in Lexington-Fayette, KY cost?
Median Sold Price
$314,481
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lexington-Fayette was $314,481 in April 2024, up 6.6% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $172.5K | +15.0% |
2 Bedrooms | $194.9K | $210K | +7.7% |
3 Bedrooms | $265K | $284.9K | +7.5% |
4 Bedrooms | $389.3K | $409.2K | +5.1% |
5+ Bedrooms | $568.5K | $559.1K | -1.7% |
Summary: Lexington-Fayette housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Cities
Lexington-Fayette Central | $287.7K | $311.4K | +8.3% |
Lexington-Fayette Northeast | $330.3K | $355.8K | +7.7% |
Lexington-Fayette | $295K | $314.4K | +6.6% |
Lexington | $295.1K | $313.3K | +6.2% |
Lexington-Fayette Southeast | $264.9K | $280K | +5.7% |
Housing Supply in Lexington-Fayette, KY
How many homes are available in Lexington-Fayette, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
874 | 973 | +11.3% |
Summary: The Lexington-Fayette real estate market had 973 homes for sale in April 2024, a 11.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 14 | +40.0% |
2 Bedrooms | 94 | 107 | +13.8% |
3 Bedrooms | 388 | 449 | +15.7% |
4 Bedrooms | 285 | 297 | +4.2% |
5+ Bedrooms | 97 | 106 | +9.3% |
Summary: The Lexington-Fayette housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 9.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
266 | 298 | +12.0% |
Asking Price vs. Sold Price
106 Homes Were Sold
Under Asking
97 Homes Were Sold
At Asking
95 Homes Were Sold
Over Asking
Summary: A total of 298 homes were sold or pending in Lexington-Fayette in April 2024, up by 12.0% month-over-month. Of the 298 sold homes, 36% were sold under asking, 33% were sold at asking, and 32% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 16 Days | -12.9% |
Summary: Homes in Lexington-Fayette had an average of 16 days on market in Apr 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
247 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During April 2024, 298 homes were sold in Lexington-Fayette; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.