Is Lexington-Fayette Southeast, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lexington-Fayette Southeast has remained a Seller's Market.
Key Takeaway
Lexington-Fayette Southeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington-Fayette Southeast, KY
How much do homes in Lexington-Fayette Southeast, KY cost?
Median Sold Price
$284,348
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lexington-Fayette Southeast have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Lexington-Fayette Southeast was $284,348 in May 2024, up 7.4% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105.6K | $117.5K | +11.2% |
| 2 Bedrooms | $182.5K | $192.9K | +5.7% |
| 3 Bedrooms | $250K | $263.5K | +5.4% |
| 4 Bedrooms | $356.2K | $388K | +8.9% |
| 5+ Bedrooms | $500.2K | $525K | +5.0% |
Summary: Lexington-Fayette Southeast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
| Ford-Boonesborough | $397.5K | $455K | +14.5% |
| Nicholasville | $292K | $326.1K | +11.7% |
| Lexington-Fayette Southeast | $264.6K | $284.3K | +7.4% |
| Lexington | $295.4K | $314.8K | +6.6% |
| Lexington-Fayette | $295.4K | $314.9K | +6.6% |
Housing Supply in Lexington-Fayette Southeast, KY
How many homes are available in Lexington-Fayette Southeast, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 225 | 235 | +4.4% |
Summary: The Lexington-Fayette Southeast real estate market had 235 homes for sale in May 2024, a 4.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 29 | 26 | -10.3% |
| 3 Bedrooms | 92 | 93 | +1.1% |
| 4 Bedrooms | 69 | 80 | +15.9% |
| 5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The Lexington-Fayette Southeast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 77 | +6.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington-Fayette Southeast, you could pay more than the asking price. 36.4% of homes here sold above asking price last month.
Summary: A total of 77 homes were sold or pending in Lexington-Fayette Southeast in May 2024, up by 6.9% month-over-month. Of the 77 sold homes, 34% were sold under asking, 30% were sold at asking, and 36% were sold over asking.
Days on Market for Lexington-Fayette Southeast, KY
How long does it take to sell a home in Lexington-Fayette Southeast, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 17 Days | +126.1% |
Summary: Homes in Lexington-Fayette Southeast had an average of 17 days on market in May 2024, up by 126.1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington-Fayette Southeast are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 77 homes were sold in Lexington-Fayette Southeast; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.