A nonprofit publication of the Kentucky Center for Public Service Journalism

Homes are selling faster than ever in Kentucky; record-breaking sales pace continues

Five years ago (August 2015) homes in the Commonwealth took an average of 139 days to go under contract. This past August, homes stayed on the market an average of just 96 days. That is the shortest timeframe for August on record. 5,329 homes were sold in August compared to 5,485 homes in August of last year, a 3 percent decrease. Year-to-date figures are trending higher, however. So far in 2019,...

Lack of homes for sale threatens record-setting year; median home price in Kentucky at all-time high

For only the second time in the last ten years June home sales did not top those of the previous month. June home sales have historically been three percent higher than that of May’s (of the same year). June saw a five percent drop in that figure as closings fell to 5,097 sold, down from 5,347 in May 2019. June’s figure was down year-over-year from last June by 2.4 percent. Strong spring sales...

Available homes for sale in Kentucky reach record low, May home sales second highest on record

If no more homes were placed on the market in Kentucky, it would take 3.1 months to sell everything in inventory at present. That figure is at the lowest point since it began being tracked by Kentucky REALTORS in 2013. Economists say that a healthy housing market has about a 6-month inventory level. In the Commonwealth, supply just can’t keep up with the increasing demand. The unfortunate side-effect...

Kentucky home sales not hampered by near record-low inventory; pricing comparable to 2018

The number of homes available for sale continues to slide in Kentucky. That figure sits at a near-record low of 3.5 months, which is the time it would take to sell off all listed homes if no others were added to the market. This fact hasn’t seemed to slow down sales just yet, however. April 2019 saw 4,581 homes sold which is up half a percent over April 2018’s figure of 4,552. Year-to-date, homes...

KY home sales virtually unchanged in March; first quarter pace foreshadows 2nd highest year on record

Dropping inventory continues to be the main concern as the Kentucky housing market continues to hum along at a near-record pace. (Click to enlarge) The first quarter of 2019 closed with 10,322 homes sold, down just one percent over the same period last year. Kentucky home sales in March were down less than a half-percent over March 2018 at 4,252. Existing-home sales retreated in March, following February’s...

February sees record home sales across Kentucky; median sale price up 7 percent over last year

Kentucky home sales in February soared six percent over the 2018 number. Units sold reached 3,323 which is the highest level since 2016 and sets a new record for February. Click to enlarge With larger numbers of homes selling early in the year, rebounding inventory numbers will take a temporary hit. Nationwide, existing-home sales also surged 11.8 percent which is the largest month-over month gain...

Kentucky housing market experiences second-highest year ever; most local areas saw growth

For the fourth year in a row, Kentucky’s real estate market set new sales records in most of the local market areas, despite the statewide number being just shy of besting the 2017 mark. Kentucky housing market update, year end, for 2018 The 2018 state tally swelled to 52,305 units sold, approximately 750 homes short of the 2017 mark of 53,058. Housing inventory and the time it took for homes to...

Kentucky home sales rebound in August, second-highest monthly sales since June of last year

Kentucky home sales followed the national trend by rising in August and reaching 5,485 transactions. This is a 4.3 percent increase over August 2017 and the second highest monthly sales for the state since June 2017. For the year, home sales are trailing 2017 by just 1.02 percent, with 35,838 transactions through the first eight months of the year (36,208 sales were recorded in the same period for...

Lexington-Bluegrass Association of REALTORS saw home sales rise for second time in 2018

Total real estate sales by members of the Lexington-Bluegrass Association of REALTORS (LBAR) increased in August for the second time in 2018. August sales activity ticked up 2.1 percent with 1,339 sales reported compared to 1,311 sales reported in August 2017. Single-family home sales were 1,252 in 2018, an increase of 1 percent over the 1,238 homes sold in August 2017. Townhouses and condos saw a...

Kentucky home sales inch up for the second time in 2018; days on market reach lowest on record

Kentucky home sales rose in July for only the second time this year, reaching 5,072 transactions, a 1.4 percent increase over the 5,000 sold in July 2017. For the year, home sales are trailing 2017 by almost 2 percent, with 30,354 transactions through the first seven months of the year (30,950 sales were recorded in the same period for 2017). Click to enlarge Nationally, home sales have fallen for...

Home sales experiencing a decline in Kentucky; prices and inventory on the rise throughout the state

June home sales were at the lowest level for the month since 2014, with the number of transactions decreasing 5.4 percent compared to a year ago at 5,207 in 2018, versus 5,504 in 2017. Even with the decline, total home sales for the first half of 2018 are still on track to be the second highest ever for Kentucky. Through June, home sales reached 25,253, only 2.7 percent (or 697 total homes) below the...

Homes sold in Kentucky drop in May after a record-breaking April; sold total still on record pace

Kentucky’s housing market followed the national scene in May, with home sales decreasing 6.2 percent for the month compared to a year ago. Click to enlarge Even with the decline, total home sales were the second highest ever for the month, reaching 5,057, versus 5,395 in May 2016. Year-to-date, homes sales are down 2 percent with only 410 more homes sold across Kentucky in the first 5 months of 2016...

Home sales decline, but prices remain strong in Kentucky; lack of available inventory impacts market

Home sales in Kentucky did not follow the national trend in March, as transactions in the state were down 6.8 percent for the month compared to March 2017 (4,576 in 2017 versus 4,262 in 2018). Nationally, sales rose 1.1 percent. Even with the drop of 314 total sales, March 2018 was still the second highest on record, just edging out March 2006 when 4,106 homes were sold. Total homes sold for the month...

Kentucky housing market bounces back in October after September slump, follows national trend

After slipping a bit in September, the housing market in Kentucky picked up in October following the national trend for the month. The number of homes sold in October rose 1.8 percent to 4,421 sold versus 4,342 sold in 2016. For the year, the number of homes sold jumped to 45,236, up from 43,905 in 2016, for a 3 percent increase. At this pace, 2018 is on track to break last year’s record for the...

Kentucky home sales continue to climb; May sees increase in sales, slight drop in price

Real estate sales in Kentucky continue to exceed the totals seen through this time in 2016. Total home sales in May increased 8.6 percent, from 4,963 in 2016 to 5,391 in 2017, the first time sales have pushed over 5,000 in May. Housing inventory in May reached an all-time low at 3.5 months, down 14.6 percent from May of 2016. “The fact that inventory remains so low and sales continue to grow shows...

Strong first quarter for state real estate market; home sales increase 8.6 percent, median price ticks up

Overcoming a few dips in the first three months of the year, the Kentucky real estate market finished the first quarter on the upswing. Total home sales rose 8.6 percent, from 9,946 in 2016 to 10,805 in 2017, during the first quarter of the year. The increase comes at a time when the time it takes for a property to sell dropped 22 days, or almost 15 percent, from the same period last year. Housing...

Record breaking year for Kentucky housing market; total home sales highest ever recorded

After a record breaking year in 2015, Kentucky’s number of homes sold set new highs in 2016. Total home sales were the highest ever recorded in the state at 52,123, an 8 percent increase over the 48,259 sold in 2015. The Kentucky Association of Realtors (KAR) reported that over the past five years, home sales increased monthly, year-over-year, in all but seven months. In both November and December,...