Is Colony, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Colony has remained a Seller's Market.
Key Takeaway
Colony is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colony, KY
How much do homes in Colony, KY cost?
Median Sold Price
$200,000
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Colony have sold for 20.3% less than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $154K | $185K | +20.1% |
| 3 Bedrooms | $202.5K | $169K | -16.5% |
| 4 Bedrooms | $258K | $180K | -30.2% |
| 5+ Bedrooms | $677.5K | $245K | -63.8% |
Summary: Colony housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.1%, 3 bedroom homes decreased by 16.5%, 4 bedroom homes decreased by 30.2%, and 5+ bedroom homes decreased by 63.8%.
Housing Supply in Colony, KY
How many homes are available in Colony, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Summary: The Colony real estate market had 22 homes for sale in May 2024, a 15.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Colony housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colony, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Colony in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Colony, KY
How long does it take to sell a home in Colony, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 12 Days | -80.0% |
Summary: Homes in Colony had an average of 12 days on market in May 2024, down by 80% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colony are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Colony; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.