Kentucky
Housing Market
The landscape of Kentucky’s Housing Market evolves with shifting home prices and demand. Houzeo’s housing market report tracks constant changes in supply and demand across Kentucky. Our report offers real-time insights to help you make informed decisions.
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MigrationKentucky Housing Market Overview
Home prices in Kentucky show a 9.2% YoY growth as of January 2025. The constant rise in home prices indicates the strength of the housing market. Currently, the median home price in Kentucky is $265,000. The number of homes sold increased by 5.9% YoY.
You can also check the market’s competitiveness through the median days on the market. Homes in Kentucky now spend 57 days on the market before going under contract. All these metrics collectively indicate changes in the Kentucky housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market’s competitiveness through the median days on the market. Homes in Kentucky now spend 57 days on the market before going under contract. All these metrics collectively indicate changes in the Kentucky housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: If You're a Buyer: The Kentucky housing market offers challenges and opportunities today. The median home price in Kentucky is $265,000, which shows continued market momentum across the state. Properties now spend 57 days on the market before selling. The longer market time gives buyers more negotiating power. Buyers can take time to evaluate their potential purchases. Market activity remains strong, with 2,729 January home sales. Hence, you should act quickly when you find your ideal property.
- If You're a Seller: Your property enters the market with strong price appreciation. The impressive 9.2% price growth signals sustained buyer demand. The housing market in Kentucky remains active, with 2,729 homes sold, up from 2,572 last January. While sales volume shows healthy growth, expect your home to take longer to sell. The median time to sell now extends to 57 days, an increase of 8 days from last year.
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Kentucky
Kentucky Housing Supply
Kentucky’s housing supply is expanding as inventory grows and market conditions shift. Houses for sale in KY increased by 10.9% year over year in January 2025, bringing the total number of available listings to 13,757. The median days on the market have gone up to 57 days, which favors buyers. On the other hand, there are only 4 months of supply, characteristic of a seller’s market. The growing inventory is matched by strong demand in the Kentucky housing market.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: The Kentucky housing market now offers more choices for you. Available homes have grown by 10.9% to 13,757 properties. The inventory increase gives you better negotiating opportunities today. Real estate in Kentucky maintains a balance with a 4-month supply. This healthy market dynamic supports well-planned purchasing decisions today. If You're a Seller: The housing market in Kentucky continues to offer solid advantages for sellers. These advantages stem from a favorable 4-month supply that maintains your negotiating position. Your strong position is further reinforced by a 1% decrease in new houses for sale in KY, which helps balance the 10.9% inventory growth. This balanced market dynamic means that while buyers have more choices, steady demand continues to support property values. A well-priced home in these conditions should still attract serious buyers while commanding fair market value.
What Does It Mean for Home Buyers and Sellers?
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Kentucky
Kentucky Housing Demand
The percentage of Kentucky houses selling above the list price is a key indicator of housing demand. When more homes sell for higher than the list price, it shows strong buyer competition and high demand. A decline suggests more supply. Tracking this trend helps you gauge market competitiveness.
In January 2025, 14.7% of houses for sale in KY sold above the list price. Price drops increased from last year, with 24.2% of homes experiencing price drops. The 96.7% sale-to-list ratio points to a clear advantage for buyers. However, both parties must work to reach their price goals.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: The Kentucky housing market shows promising shifts in your favor. While 14.7% of homes still sell above the list price, this number has decreased from last year. Kentucky average home price reductions now occur in 24.2% of listings, offering chances for better deals. Properties selling at 96.7% of the list price show reasonable negotiation potential. These conditions create a fair environment for home purchases. If You're a Seller: The housing market in Kentucky continues to support fair property values. Though above-list sales decreased to 14.7%, most homes maintain strong pricing power. The 96.7% sale-to-list ratio indicates reliable returns on well-priced houses for sale in KY. While 24.2% of listings see price adjustments, accurate initial pricing attracts serious buyers. Strategic pricing remains your key to a successful and timely sale.
In January 2025, 14.7% of houses for sale in KY sold above the list price. Price drops increased from last year, with 24.2% of homes experiencing price drops. The 96.7% sale-to-list ratio points to a clear advantage for buyers. However, both parties must work to reach their price goals.
What Does It Mean for Home Buyers and Sellers?
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Is it a Buyer’s or Seller’s Market in Kentucky?
The Kentucky housing market is currently balanced, with prices rising 9.2% to $265,000 yet still remaining affordable. This stability has attracted more buyers, leading to a 5.9% increase in sales. Homes now spend an average of 57 days on the market, signaling consistent demand. As a result, more homeowners are listing their properties.
The Kentucky housing market continues offering equal opportunities for buyers and sellers. Most homes are selling close to their asking prices, with sellers receiving 96.7% of the list price, which shows reasonable negotiations. With a healthy four-month supply, the market remains favorable for all parties involved.
Kentucky Housing Market Insights
The Kentucky housing market maintains a balanced environment through steady growth. This stability is visible in the 9.2% price increase to $265,000. The reasonable prices have attracted more buyers to the market. Their increased interest has pushed sales up by 5.9%. These balanced conditions encourage more homeowners to list properties.
A healthy equilibrium exists between buyers and sellers in Kentucky. This balance is reflected in how homes sell near their asking prices. Most sellers achieve 96.7% of their list price through fair negotiations. The market sustains an ideal four-month supply of homes. Such conditions create opportunities for both sides of transactions.
A healthy equilibrium exists between buyers and sellers in Kentucky. This balance is reflected in how homes sell near their asking prices. Most sellers achieve 96.7% of their list price through fair negotiations. The market sustains an ideal four-month supply of homes. Such conditions create opportunities for both sides of transactions.
Nationwide Migration Trends
Kentucky attracted significant inbound migration during the peak moving season of winter 2024-2025. Over 1,000 residents searched for in-state homes from November 24 to January 25. Hordes of new homebuyers arrived from New York, California, and Illinois. Strong economic opportunities and a lower cost of living draw families to the Kentucky housing market. Cities like Bowling Green, Elkton, and Richmond welcomed the most new residents.
This migration pattern reflects the broader trends in the cost of living index. Kentucky's index is 6.2% lower than the national average.
This migration pattern reflects the broader trends in the cost of living index. Kentucky's index is 6.2% lower than the national average.
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Frequently Asked Questions
How is the housing market in Kentucky?
Despite increasing mortgage rates, the Blue Grass State’s housing market landscape is robust. Statewide prices rose 9.2% YoY in January 2025, with Paducah and Covington witnessing a significant increase.
What are the cheapest cities in Kentucky?
Middlesborough ($185k) and Williamsburg ($210k) have the lowest median home sale prices and are among the cheapest places to live in Kentucky. If you’re moving to Kentucky from expensive places like New York or California, you will pay at least 50% to 65% less to buy or rent a house.
Should I wait for some time before buying a house in Kentucky?
As a buyer, you can get a fair deal now with the growing inventory and median days on the market of Kentucky homes. The average home price in Kentucky is currently $265,000. If you’re buying a house in Kentucky, you should first get a mortgage pre-approval. You will also need to budget for a down payment of up to 10%.
How can I list my house for sale in KY?
You can list your home for sale with a Flat Fee MLS Kentucky listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average cost of living in Kentucky?
The cost of living in KY is 6.2% lower than the national average, with an index of 93.8. The state's housing costs are particularly affordable, reflected by a housing index of 72.5—one of the lowest in the country. The median home price in Kentucky is $265,000, which is 36.6% below the national median. To explore living expenses in any Kentucky locality, you can use our free Kentucky cost of living calculator.
How does Kentucky’s housing market compare to the national market?
Kentucky’s housing market is outperforming the national market, with stronger price appreciation and significant growth. The state also sees high demand driven by relocation from other states and its affordable cost of living, making it an attractive option for homebuyers.
Is now a good time to buy or sell a home in Kentucky?
It depends on the current trends in housing prices and inventory in your city. Sellers can benefit from stable demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, it’s the best time to buy a house in Kentucky.
What is the average mortgage rate for buyers in Kentucky?
The average mortgage rate for buyers in the Kentucky housing market fluctuates between 6.0% and 6.9%. Before you apply for a mortgage, check your credit score and the current mortgage rates with lenders.
When will house prices drop in Kentucky?
As per the Kentucky housing market predictions for 2025, it’s implausible that house prices will drop. In fact, the average cost of a house in Kentucky is projected to grow along with the housing demand in 2025.
What are the Kentucky housing market predictions for 2025?
The Kentucky housing market should remain neutral through 2025. Sellers dominate May and June, with higher demand and lower median days on the market. Buyers find advantages in January and February, with higher supply and median days on the market.
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