Is Mayfield, 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, Mayfield was a Buyer's Market.
Key Takeaway
Mayfield 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 Mayfield, KY
How much do homes in Mayfield, KY cost?
Median Sold Price
$169,000
$108/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mayfield have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Mayfield was $169,000 in March 2024, up 0.6% from last year, and the median price per square foot was $108.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $110K | N/A |
| 2 Bedrooms | $168K | $110K | -34.5% |
| 3 Bedrooms | $151.7K | $167.7K | +10.5% |
| 4 Bedrooms | - | $218K | N/A |
| 5+ Bedrooms | - | $355K | N/A |
Summary: Mayfield 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 decreased by 34.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Mayfield, KY
How many homes are available in Mayfield, KY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 69 | +19.0% |
Summary: The Mayfield real estate market had 69 homes for sale in March 2024, a 19.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 37 | 44 | +18.9% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Mayfield 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 22.2%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfield, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Mayfield in March 2024, up by 37.5% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Mayfield, KY
We’re sorry, we don't have information for this market at the moment
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listings displayed are the property of the Western Kentucky Regional MLS (WKMLS) and provided here for consumer's personal, non-commercial use, and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing. Each potential buyer is responsible for conducting his or her own independent inspections,investigations, measurements, inquiries and due diligence concerning the property. Although all information contained herein is believed to be accurate, the Real Estate Broker and the Seller of the property make no warranty or guarantee, actual or implied. Copyright 2024 Western Kentucky Regional MLS, Inc.