Is Mercer County, 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, Mercer County has remained a Seller's Market.
Housing Prices in Mercer County, KY
How much do homes in Mercer County, KY cost?
Median Sold Price
$229,500
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mercer County was $229,500 in April 2024, up 4.3% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $255.5K | +89.3% |
2 Bedrooms | $132.4K | $135K | +1.9% |
3 Bedrooms | $216K | $229K | +6.0% |
4 Bedrooms | $308K | $322.5K | +4.7% |
5+ Bedrooms | $299.9K | $465K | +55.1% |
Summary: Mercer County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 89.3%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 55.1%.
Median Sold Price Compared To Nearby Counties
Jessamine County | $289.6K | $323.2K | +11.6% |
Woodford County | $310K | $339.7K | +9.6% |
Anderson County | $229.9K | $242.5K | +5.5% |
Mercer County | $220K | $229.5K | +4.3% |
Boyle County | $238K | $225K | -5.5% |
Housing Supply in Mercer County, KY
How many homes are available in Mercer County, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
90 | 104 | +15.6% |
Summary: The Mercer County real estate market had 104 homes for sale in April 2024, a 15.6% 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 | 12 | 12 | 0.0% |
3 Bedrooms | 48 | 53 | +10.4% |
4 Bedrooms | 25 | 31 | +24.0% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Mercer County 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 remained the same, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 25 | +66.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Mercer County in April 2024, up by 66.7% month-over-month. Of the 25 sold homes, 52% were sold under asking, 24% were sold at asking, and 24% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 33 Days | -4.0% |
Summary: Homes in Mercer County had an average of 33 days on market in Apr 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 25 homes were sold in Mercer County; 68% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.