Is Lexington-Fayette Central, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lexington-Fayette Central has remained a Seller's Market.
Housing Prices in Lexington-Fayette Central, KY
How much do homes in Lexington-Fayette Central, KY cost?
Median Sold Price
$306,615
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lexington-Fayette Central was $306,615 in March 2024, up 5.3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $159.9K | $175K | +9.4% |
2 Bedrooms | $214.9K | $238K | +10.7% |
3 Bedrooms | $283.7K | $294.9K | +4.0% |
4 Bedrooms | $400K | $399.8K | 0% |
5+ Bedrooms | $670K | $595K | -11.2% |
Summary: Lexington-Fayette Central housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 11.2%.
Median Sold Price Compared To Nearby Cities
Lexington-Fayette Central | $291.1K | $306.6K | +5.3% |
Lexington | $295K | $310.6K | +5.3% |
Lexington-Fayette | $294.9K | $310.3K | +5.2% |
Lexington-Fayette Southwest | $326.7K | $341.5K | +4.6% |
Lexington-Fayette Northwest | $275.8K | $284.2K | +3.0% |
Housing Supply in Lexington-Fayette Central, KY
How many homes are available in Lexington-Fayette Central, KY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
225 | 281 | +24.9% |
Summary: The Lexington-Fayette Central real estate market had 281 homes for sale in March 2024, a 24.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 11 | 0.0% |
2 Bedrooms | 41 | 54 | +31.7% |
3 Bedrooms | 95 | 117 | +23.2% |
4 Bedrooms | 62 | 78 | +25.8% |
5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The Lexington-Fayette Central 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 31.7%, 3 bedroom homes increased by 23.2%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 65 | +22.6% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 65 homes were sold or pending in Lexington-Fayette Central in March 2024, up by 22.6% month-over-month. Of the 65 sold homes, 55% were sold under asking, 20% were sold at asking, and 25% were sold over asking.
Days on Market for Lexington-Fayette Central, KY
How long does it take to sell a home in Lexington-Fayette Central, KY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 22 Days | -2.2% |
Summary: Homes in Lexington-Fayette Central had an average of 22 days on market in Mar 2024, down by 2.2% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 65 homes were sold in Lexington-Fayette Central; 75% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.