The median sale price (month-over-month) in Kentucky for January was up 5.1% at $167,000. In 2019, that figure reached 158,950. The median price has been steadily climbing as low-inventory figures in urban markets continues to act as a barrier to buyers making a move. Sellers continue to find the median sale price reaching 98% of the median listing price ($170,000) across the state.
Kentucky metro area house prices are forecasted to underperform the national market. Current local conditions support an estimated 5.7% increase in the next twelve months. Kentucky’s housing market vitality, based on the nine metro housing markets which comprise it, is weaker than that of the overall U.S. and currently ranks the state as forty-second in the nation. Recent changes in local conditions suggest the possibility of moderation in short-term performance.
Click the header above or the graph below to view the entire Housing Market Vitality Report for December 2019.