Kentucky Housing Market

Home prices in Kentucky were up 8.0% year-over-year in November. At the same time, the number of homes sold rose 5.9% and the number of homes for sale rose 13.5%.

Overview
Supply
Demand
Migration
News

Kentucky Housing Market Overview

What is the housing market like right now?

In November 2024, home prices in Kentucky were up 8.0% compared to last year, selling for a median priceof $268,200. On average, the number of homes sold was up 5.9% year over year and there were 3,410 homes sold in November this year, up 3,214 homes sold in November last year. The median days on the market was 45 days, up 7 year over year.…

The direction and pace at which home prices are changing are indicators of the strength of the housing market andwhether homes are becoming more or less affordable. The median price of a home in the United States is currently $268,200.…

Median Sale Price

(All Home Types)

$268,200

+8.0% YoY | Nov 2024

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $268,200.

Location

Data

Nov 2024

Growth

% YoY

Kentucky

$268,200

+8.0%

Top 10 Metros in Kentucky with the Fastest Growing Sales Price

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Kentucky Housing Supply

Are there enough homes for sale to meet buyer demand?

In November 2024, there were 15,423 homes for sale in Kentucky, up 13.5% year over year.The number of newly listed homes was 3,731 and up 0.08% year over year. The average months of supply is 3 months, up 0 year over year. …

The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. Theycan also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 15,423 residential homes for sale in the United States.…

# of Homes for Sale

(All Home Types)

15,423

+13.5% YoY | Nov 2024

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 15,423 residential homes for sale in the United States.

Location

Data

Nov 2024

Growth

% YoY

Kentucky

15,423

+13.5%

Kentucky Housing Demand

How competitive is the market?

In November 2024, 18.2% of homes in Kentucky sold above list price, down 0.53 points yearover year. There were only 26.4% of homes that had price drops, up from 23.0% of homes in November last year. There was a 97.4% sale-to-list price, up 0.06 points year over year. …

Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above listprice indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive.…

Homes Sold Above List Price

(All Home Types)

18.2%

-0.53 pt YoY | Nov 2024

Based on Redfin calculations of home data from MLS and/or public records.

What does this mean?

Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above list price indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive.

Location

Data

Nov 2024

Growth

% YoY

Kentucky

18.2%

-0.53 pt

Top 10 Most Competitive Cities in Kentucky

Competition calculated using Redfin's Compete Score™

U.S. Migration Trends

Where are people moving to and from?

Nationwide, 26% of homebuyers searched to move to a different metro area between Sep '24 - Nov '24. The top 5 states homebuyers searched to move to were Florida, North Carolina, Tennessee, South Carolina, and Maine while California, New York, Illinois, Washington, and Maryland were the top 5 states homebuyers searched to move from.

Of all the major U.S. metros, Sacramento was the most searched for destination among homebuyers looking to relocate between Sep '24 - Nov '24. Next came Myrtle Beach, Salisbury, Portland, and Cape Coral. Los Angeles was the most searched for destination among homebuyers looking to leave, followed by New York, San Francisco, Seattle and Washington.

Moving to

Moving from

Data Unavailable

Top 10 areas people are moving to

Inbound		Net inflow
Metros		Sep '24 - Nov '24
1	Sacramento, CA	6,900
2	Myrtle Beach, SC	3,800
3	Salisbury, MD	3,700
4	Portland, ME	3,700
5	Cape Coral, FL	3,500
6	Sarasota, FL	3,200
7	Nashville, TN	3,100
8	Hilo, HI	2,800
9	Las Vegas, NV	2,700
10	Boise, ID	2,500

Top 10 areas people are moving from

Outbound		Net outflow
Metros		Sep '24 - Nov '24
1	Los Angeles, CA	32,300
2	New York, NY	25,200
3	San Francisco, CA	23,800
4	Seattle, WA	18,100
5	Washington, DC	14,400
6	Chicago, IL	6,200
7	Philadelphia, PA	5,600
8	Dallas, TX	3,400
9	Denver, CO	2,800
10	Boston, MA	2,600

Methodology

This data does not reflect actual moves. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.

Kentucky Housing Market