Is Mercer County, 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, Mercer County was a Seller's Market.
Housing Prices in Mercer County, KY
How much do homes in Mercer County, KY cost?
Median Sold Price
$229,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Mercer County was $229,000 in March 2024, up 4.4% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $255.5K | +96.5% |
2 Bedrooms | $130K | $139.9K | +7.6% |
3 Bedrooms | $215.2K | $229K | +6.4% |
4 Bedrooms | $307.5K | $360K | +17.1% |
5+ Bedrooms | $300K | $457.5K | +52.5% |
Summary: Mercer County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 96.5%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 52.5%.
Median Sold Price Compared To Nearby Counties
Woodford County | $300.5K | $341.5K | +13.6% |
Jessamine County | $295K | $316.5K | +7.3% |
Anderson County | $227.9K | $241.5K | +6.0% |
Mercer County | $219.2K | $229K | +4.4% |
Boyle County | $230K | $225K | -2.2% |
Housing Supply in Mercer County, KY
How many homes are available in Mercer County, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
87 | 90 | +3.4% |
Summary: The Mercer County real estate market had 90 homes for sale in March 2024, a 3.4% 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 | 11 | 12 | +9.1% |
3 Bedrooms | 49 | 48 | -2.0% |
4 Bedrooms | 22 | 26 | +18.2% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Mercer County 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 9.1%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Mercer County in March 2024, down by 6.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 42 Days | -4.8% |
Summary: Homes in Mercer County had an average of 42 days on market in Mar 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Mercer County; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.