A nonprofit publication of the Kentucky Center for Public Service Journalism

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 on pace for second highest year as housing inventory continues to dwindle

Kentucky home sales in November are down just one-quarter of one percent from 2017. Units sold topped out at 3,909 homes which is just 10 units shy of last year’s mark of 3,919. The 2018 housing market is almost as strong as last year’s record-breaking mark. 2018 numbers now sit at 48,615 units sold compared to 2017’s tally of 49,167, down j1.1 percent. Nationwide existing-home sales increased...

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...

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...

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...

Real estate sales in Kentucky see first increase in 2018; April’s volume is the highest ever for the month

In a reversal of course and going against the national trend, Kentucky’s housing sales were up in April for the first time in 2018 and the first increase since October 2017. Click to enlarge Real estate sales reached 4,545, which is a 7.4 percent increase over April 2017 and an all-time high for the month. Year-to-date, homes sold are still down less than 1 percent over last year with only 79 less...

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...

The real estate market in Kentucky is seeing a rise in home prices as sales are leveling off

The real estate market in Kentucky is seeing a rise in home prices for the first two months of the year while home sales have leveled off. The median price rose 5 percent year-over-year to $119,523 in February compared to $113,833 in 2017. In January, the median price was up 4.6 percent to $122,433. This compares to Kentucky’s median price for all of 2017 of $128,589. Nationally, the median home...

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 down in September, but remain positive for the first three quarters

Kentucky saw home sales decrease in September, but remained positive for the first nine months of the year. Total home sales in September were down 4.6 percent, reaching 4,602 in 2017 versus 4,823 in 2016. For the quarter, homes sold hit 14,860 this year, slightly above the 14,777 sold in 2016. Year-to-date, home sales are still on a record breaking pace with a 3.1 percent increase, with 40,809 homes...