Statewide Market Overview
- Home Values: The average home value in Kentucky has risen to around $217,000, reflecting mid–single-digit growth over the past year.
- Sales Volume: Total sales activity is up year-over-year by roughly 15%, driven by strong demand in several metropolitan areas.
- Listings Sold: The number of homes sold has increased by about 6–7% compared to last January.
- Median Sales Price: Sellers are achieving median prices near $260,000, a gain of around 6% from the prior year.
- Days on Market: Homes are spending an average of 30 days on market, about a week longer than this time last year—signaling a shift toward a more balanced market.
- Inventory: With roughly a 4- to 5-month supply of homes available, Kentucky sits close to the historical equilibrium between buyers and sellers.
Louisville
- Median sale prices have climbed into the high $200,000s, up about 4–5% year-over-year.
- Average time on market is near 57 days, lengthening by about a week as inventory grows.
- Overall, it remains slightly in the sellers' favor but is trending toward balance.
Lexington
- Average sales prices have surged above $415,000, up roughly 12% over last year.
- New listings are up around 5%, giving buyers more choices.
- Homes here move quickly—often selling in about 24 days on average.
- Buyer Activity: Increased new listings alongside moderate price gains point to healthy buyer demand—but higher rates and costs are encouraging more careful shopping.
- Investor Interest: Both Louisville and Lexington are drawing investors due to their relative affordability, job growth in logistics and manufacturing, and steady rental markets.
- Seasonal Trends: Spring typically brings the busiest buying season, and 2025 looks to follow suit with more open houses and new construction coming online as families aim to settle before fall.