40461 Housing Market Report January 2025•Garrard County, Kentucky

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Housing Prices in 40461, KY

How much do homes in 40461, KY cost?

Housing Market Conditions

Is 40461, 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

40461 is a Seller's Market

Difference Since January 2024

Since last year, 40461 has remained a Seller's Market.

Insight

40461 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$295,500–
+$500
0.2%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 40461 has remained the same since last year.

Summary: The median home sold price in 40461 was $295,500 in January 2025, up 0.2% from last year, and the median price per square foot was $0.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
40444
+13.6%
40475
+8.7%
40403
+6.1%
40461
0.2%

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.
BedsJan 2024Jan 2025Change YoY
1$25K$160K
+540.0%
2--
N/A
3$294.9K$295K
0.0%
4$309.9K$299.9K
-3.2%
5$445K-
N/A

Summary: 40461 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +540.0%. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes decreased by -3.2%. The home price for 5 bedroom homes did not change.

Housing supply in 40461, KY

How many homes are available in 40461, 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
12Last MonthJan 2025
102 months agoDec 2024
+20.0 %
Change MoMDec – Jan

Summary: The 40461 real estate market had 12 homes for sale in Jan 2025, a 20.0 % increase compared to Dec 2024.

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
3Last MonthJan 2025
12 months agoDec 2024
+200.0 %
Change MoMDec – Jan

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.
BedsDec 2024Jan 2025Change MoM
111
0.0%
200
0.0%
345
+25.0%
444
0.0%
512
+100.0%

Summary: 40461 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +25.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in 40461, 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 Price2 Homes

At Asking Price1 Home

Under Asking Price0 Home

Insight

If you're buying a home in 40461, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in 40461 in January 2025, up by 200.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and and 67% were sold over asking.

Days on Market for 40461, KY

How long does it take to sell a home in 40461, KY?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

Many homes in 40461 are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 3 homes were sold in 40461; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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
103 DaysThis YearJan 2025
16 Days1 year agoJan 2024
+526.3 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 40461 had an average listing age of 103 days in Jan 2025, up by 526.3% compared to the previous year.

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Newest Listings in 40461, KY

What homes are available in 40461, KY?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Imagine MLS, for the period 02/01/2023 - 02/01/2025

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: 2/12/2025, 2:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.