London, KY home prices and housing market

In London, Kentucky, homes are sitting for about seventy four days, and one in four sellers is cutting the price. If you are thinking about selling this year, that gap between asking and getting is the story to watch. The typical London home is now worth about one hundred eighty-seven thousand dollars, down roughly two and a half percent from a year ago. Values are drifting lower, not crashing, but the direction is clear. Meanwhile, the median asking price sits around three hundred thirteen thousand dollars, far above that typical value, which tells you many sellers are still pricing for a market that has already moved on. There are only about 160 homes for sale, and just 36 new listings came on this month. Here is the turn. Supply that thin would normally hand sellers the upper hand. Not here. Buyers are refusing to pay the ask, which is why nearly a quarter of listings have already cut their price and homes sit for two months or more. So if you sell, price at the market from day one, not above it. An ambitious number here means sitting, then cutting anyway. Find out what your London home is actually worth with a free estimate at Home Value Pros dot com.