Lexington, KY housing market

In Lexington this month, sellers are asking about a hundred thousand dollars more than the typical home is actually worth, and so far, the market is letting them try. The typical Lexington home is valued at about three hundred sixty-four thousand dollars, up a solid 3.5 percent over the past year. But the median list price sits near four hundred sixty-three thousand dollars. That is a wide gap, and it tells you sellers are reaching. Here is the interesting part. Only about 15 percent of listings have cut their price, and homes are taking around forty-five days to go under contract. That is a measured pace, not a stalled one. Buyers are negotiating, but they are not walking away. Supply is tight, with only about 544 homes for sale, though roughly 418 new listings hit the market this month, giving buyers some fresh options. The takeaway for homeowners: values are climbing and demand is holding, but buyers are clearly price sensitive. If you list, price close to the market. The sellers sitting longest are the ones testing that gap.