Is London, 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, London has remained a Seller's Market.
Housing Prices in London, KY
How much do homes in London, KY cost?
Median Sold Price
$217,750
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in London was $217,750 in May 2024, up 3.7% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.9K | $151.8K | +90.1% |
2 Bedrooms | $130K | $138.7K | +6.7% |
3 Bedrooms | $200K | $210K | +5.0% |
4 Bedrooms | $287K | $275.5K | -4.0% |
5+ Bedrooms | $408.5K | $385K | -5.8% |
Summary: London housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 90.1%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 5.8%.
Housing Supply in London, KY
How many homes are available in London, KY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
140 | 155 | +10.7% |
Summary: The London real estate market had 155 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 15 | 18 | +20.0% |
3 Bedrooms | 87 | 92 | +5.7% |
4 Bedrooms | 26 | 30 | +15.4% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The London 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 increased by 20%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 46 | +109.1% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 46 homes were sold or pending in London in May 2024, up by 109.1% month-over-month. Of the 46 sold homes, 59% were sold under asking, 24% were sold at asking, and 17% were sold over asking.
Days on Market for London, KY
How long does it take to sell a home in London, KY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 61 Days | +40.8% |
Summary: Homes in London had an average of 61 days on market in May 2024, up by 40.8% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 46 homes were sold in London; 63% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.