Is Mercer County, KY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mercer County is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Mercer County has remained a Seller's Market.

Key Takeaway

Mercer County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Mercer County, KY

How much do homes in Mercer County, KY cost?

Median Sold Price

$229,950

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$4,950(+2.2%)

Key Takeaway

Homes in Mercer County have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Mercer County was $229,950 in June 2024, up 2.2% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $126K$287.5K
+128.2%
2 $130K$137.5K
+5.8%
3 $220K$229.5K
+4.3%
4 $313K$330K
+5.4%
5+ $356K$440K
+23.6%

Summary: Mercer County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 128.2%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 23.6%.

Median Sold Price Compared To Nearby Counties

Jessamine County
+12.3%
Woodford County
+10.8%
Anderson County
+7.2%
Boyle County
+3.4%
Mercer County
+2.2%

Housing Supply in Mercer County, KY

How many homes are available in Mercer County, KY?

Number of Homes For Sale

May 2024Jun 2024CHANGE
106110+3.8%

Summary: The Mercer County real estate market had 110 homes for sale in June 2024, a 3.8% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 1213
+8.3%
3 5863
+8.6%
4 2526
+4.0%
5+ 107
-30.0%

Summary: The Mercer County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

May 2024Jun 2024CHANGE
2031+55.0%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mercer County, you may be able to get a good deal. 67.7% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Mercer County in June 2024, up by 55.0% month-over-month. Of the 31 sold homes, 68% were sold under asking, 26% were sold at asking, and 6% were sold over asking.

Days on Market for Mercer County, KY

How long does it take to sell a home in Mercer County, KY?

Average Sale Time

Jun 2023Jun 2024CHANGE
23 Days33 Days+42.9%

Summary: Homes in Mercer County had an average of 33 days on market in Jun 2024, up by 42.9% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mercer County are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 31 homes were sold in Mercer County; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 14 Days Ago

Newest Listings in Mercer County, KY

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