Kentucky Housing Trend

The Lexington real estate market is growing and hot right now. There are many more buyers than sellers, creating a demand and higher prices. Houses are on the market for 90 to 120 days before selling. The average sale price is $168,000, which is comparative to last year’s prices. Sellers are getting between 92 and 96% of their original asking price. The house supply is even and in good supply for all prices.

The Louisville real estate market has more sellers than buyers, but houses are selling in less time. The average wait on the market is 30 to 60 days, and then they are getting 90 to 95% of the asking price. This is comparable to last year, with less than a 5% increase in prices. The most active group in the market is first time buyers who are taking advantage of low interest rates in mortgages.