Is London, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, London was a Seller's Market.
Key Takeaway
London is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in London, KY
How much do homes in London, KY cost?
Median Sold Price
$222,333
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in London have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in London was $222,333 in March 2024, up 7.7% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $151.8K | +90.1% |
| 2 Bedrooms | $127.4K | $154K | +20.8% |
| 3 Bedrooms | $195K | $210K | +7.7% |
| 4 Bedrooms | $300K | $276.5K | -7.8% |
| 5+ Bedrooms | $347K | $340K | -2.0% |
Summary: London housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 90.1%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 2%.
Housing Supply in London, KY
How many homes are available in London, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 116 | 135 | +16.4% |
Summary: The London real estate market had 135 homes for sale in March 2024, a 16.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 70 | 83 | +18.6% |
| 4 Bedrooms | 26 | 28 | +7.7% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The London housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 22 | +46.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in London, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in London in March 2024, up by 46.7% month-over-month. Of the 22 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% were sold over asking.
Days on Market for London, KY
How long does it take to sell a home in London, KY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 40 Days | -32.1% |
Summary: Homes in London had an average of 40 days on market in Mar 2024, down by 32.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in London are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in London; 50% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% 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 (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.