40351 Housing Market Report April 2025•Rowan County, Kentucky

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Housing Prices in 40351, KY

How much do homes in 40351, KY cost?

Housing Market Conditions

Is 40351, KY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

40351 is a Buyer's Market

Difference Since April 2024

At the same time last year, 40351 was a Seller's Market.

Insight

40351 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$205,000$100/SqFt
-$10,000
-4.7%

Based on all homes sold in the last 12 months

Insight

Homes in 40351 have sold for 4.7% less than they did a year ago.

Summary: The median home sold price in 40351 was $205,000 in April 2025, down 4.7% from last year, and the median price per square foot was $100.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsApr 2024Apr 2025Change YoY
1-$65K
N/A
2$126K$189.7K
+50.6%
3$215K$200K
-7.0%
4$275K$251.5K
-8.5%
5$472.5K$460K
-2.6%

Summary: 40351 housing price by bedroom type for April 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +50.6%. The home price for 3 bedroom homes decreased by -7.0%. The home price for 4 bedroom homes decreased by -8.5%. The home price for 5 bedroom homes decreased by -2.6%.

How does 40351, KY compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

40351, KY

Housing supply in 40351, KY

How many homes are available in 40351, KY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
59Last MonthApr 2025
432 months agoMar 2025
+37.2 %
Change MoMMar – Apr

Summary: The 40351 real estate market had 59 homes for sale in Apr 2025, a 37.2 % increase compared to Mar 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
4Last MonthApr 2025
72 months agoMar 2025
-42.9 %
Change MoMMar – Apr

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMar 2025Apr 2025Change MoM
111
0.0%
213
+200.0%
32740
+48.1%
41210
-16.7%
525
+150.0%

Summary: 40351 housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +200.0%. The inventory for 3 bedroom homes increased by +48.1%. The inventory for 4 bedroom homes decreased by -16.7%. The inventory for 5 bedroom homes increased by +150.0%.

Asking Price vs. Sold Price

How much do homes in 40351, KY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price3 Homes

Insight

If you're buying a home in 40351, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 40351 in April 2025, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and and 25% were sold over asking.

Days on Market for 40351, KY

How long does it take to sell a home in 40351, KY?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

Many homes in 40351 are selling fast, if you're buying plan to act quickly.

Summary: During April 2025, 4 homes were sold in 40351; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
48 DaysThis YearApr 2025
64 Days1 year agoApr 2024
-24.7 %
Change YoYApr 2024 – Apr 2025

Summary: Homes in 40351 had an average listing age of 48 days in Apr 2025, down by 24.7% compared to the previous year.

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Newest Listings in 40351, KY

What homes are available in 40351, KY?

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MLS Disclaimers and Copyright

Based on information from Imagine MLS, for the period 05/01/2023 - 05/01/2025

IDX 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. © 2025 LBAR Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/4/2025, 8:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.