Kentucky Real Estate Market May 2022: Forecasts + Trends

Kentucky real estate trends (May 2022)

How is the real estate market in Kentucky?
🏠 Average home value: $190,037	📈 0.65% home value increase month over month
💰 Median sale price: $238,100	⏳ 48 days on the market
🔑 Homes on the market: 6,217	📆 1.2 months of housing inventory
🏦 30-year mortgage rate: 5.52000%	💵 Average income: #N/A
State of the market: B
Despite previous signs of activity, Kentucky’s real estate market is slowing down. Properties in the state are staying on the market longer and their values are leveling off — halting the upward momentum of the state’s market.
_{Data last updated May 2022}*

Kentucky is known for horse racing, bluegrass music, and bourbon — a reliable recipe for having a good time.

Kentucky's extensive network of state parks offer plenty of lush forests and outdoor activities, including the world's longest cave, Mammoth Cave, which has hosted tours since 1816.

Its major cities include Louisville, Lexington, Frankfurt, and Bowling Green, which offer plentiful restaurants, nightlife, and shopping.

If you're thinking of buying or selling in Kentucky, these Kentucky housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Kentucky

Kentucky real estate market forecast for sellers
⏰ Homes are selling 24 days slower than the annual average	💰 Homes are selling for $25,568 more than the annual average
💸 Average listing commission: 2.72%	💸 Average buyer's commission: 2.72%

How to sell a home in Kentucky

Cost to sell a home in Kentucky

Buying a home in Kentucky

How much home you can buy with $300,000 in...
🏠 Louisville: 1,807 sq ft	🏡 Bowling Green: 1,695 sq ft
🏡 Lexington: 1,667 sq ft	🏠 Elizabethtown: 2,027 sq ft

Investing in Kentucky real estate

Best of Kentucky

Each month, we compare locations in Kentucky based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Kentucky
1. Boone County
2. Fayette County
3. Campbell County
4. Oldham County
5. Scott County

Ready to buy a home in Kentucky? Eligible buyers get cash back with Clever!

Worst of Kentucky

Each month, we compare locations in Kentucky based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Kentucky
1. Magoffin County
2. Breathitt County
3. Harlan County
4. Martin County
5. Floyd County

Kentucky resources

Frequently asked questions about Kentucky real estate

It is currently a seller’s market in Kentucky. Limited housing inventory in the state are creating a lot of opportunities for homeowners ready to sell. While that may be the case, each area is different, which is why it’s crucial to get the help of a local real estate agent to understand your market trends.

Investing in real estate is always a good choice, especially in more densely populated areas of Kentucky like Louisville and Lexington. However, for your investment to pay off, you’ll need to buy the right kind of property in the best neighborhood. Find out more in our guide to real estate investing.

Now might not be the best time to purchase a house in Kentucky, as listing prices and mortgage rates are higher than normal. If you still need to buy, however, then work with a local real estate agent to help you find a decent property that’s within your budget.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Kentucky Real Estate Market in 2022: Forecasts + Trends