Is Lexington-Fayette Northwest, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lexington-Fayette Northwest has remained a Seller's Market.
Housing Prices in Lexington-Fayette Northwest, KY
How much do homes in Lexington-Fayette Northwest, KY cost?
Median Sold Price
$285,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lexington-Fayette Northwest was $285,000 in April 2024, up 2.3% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $220K | $245K | +11.4% |
3 Bedrooms | $255.7K | $270K | +5.6% |
4 Bedrooms | $349.7K | $356.1K | +1.8% |
5+ Bedrooms | $449.9K | $400K | -11.1% |
Summary: Lexington-Fayette Northwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 11.1%.
Median Sold Price Compared To Nearby Cities
Lexington-Fayette Central | $287.7K | $311.4K | +8.3% |
Lexington-Fayette Southwest | $325K | $350K | +7.7% |
Lexington-Fayette Northeast | $330.3K | $355.8K | +7.7% |
Lexington-Fayette | $295K | $314.4K | +6.6% |
Lexington-Fayette Northwest | $278.7K | $285K | +2.3% |
Housing Supply in Lexington-Fayette Northwest, KY
How many homes are available in Lexington-Fayette Northwest, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 125 | +13.6% |
Summary: The Lexington-Fayette Northwest real estate market had 125 homes for sale in April 2024, a 13.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 8 | +60.0% |
3 Bedrooms | 61 | 70 | +14.8% |
4 Bedrooms | 38 | 41 | +7.9% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lexington-Fayette Northwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 49 | +96.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Lexington-Fayette Northwest in April 2024, up by 96.0% month-over-month. Of the 49 sold homes, 29% were sold under asking, 37% were sold at asking, and 35% were sold over asking.
Days on Market for Lexington-Fayette Northwest, KY
How long does it take to sell a home in Lexington-Fayette Northwest, KY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 12 Days | -57.8% |
Summary: Homes in Lexington-Fayette Northwest had an average of 12 days on market in Apr 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 49 homes were sold in Lexington-Fayette Northwest; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.