Kentucky’s 2024 Housing Market Achieves Record-Breaking Home Sales, Rebounding Strongly from 2020 Pandemic Impact

Kentucky’s 2024 Home Sales Record Unprecedented Numbers Since 2020


LEXINGTON, Ky. – Following a profound lull sparked by the abrupt outbreak of COVID-19 in 2020, the Kentucky housing market has remarkably managed to bounce back, hitting an all-time high in home sales since 2020. This resounding surge has brought a much-needed breath of fresh air to the real estate sector, inspiring confidence among both property sellers and prospective home buyers.

Tide Turns Positive for Home Buyers

Struggling under the weight of high rates in December 2020 and January 2021, the market has since seen a marked decrease in these numbers, according to Cynthia Trgo, a seasoned real estate agent with the Bluegrass Home Group. “Overall, it’s going to be a really good year for real estate—probably higher than last year,” Cynthia remarked optimistically.

Pricing and Sales Dynamics

As outlined in an annual report from Bluegrass Realtors, the median price for a domicile in Kentucky has settled at an enticing $250,000. Remarkably, Kentucky has documented a robust 5% swell in its housing inventory compared to 2023, with properties average of only 48 days listed before being purchased. Despite a 10% drop in single-family homes sales numbering only 711, townhomes and condos have ridden a different wave entirely. Astonishingly, this sector’s sales shot up by 30%, marking the third successive month of annual gains.

The Safe Haven of Kentucky’s Housing Market

From an expert’s perspective, the housing market in Kentucky is uniquely positioned. Trgo insightfully points out that “We are not a high market, and we are not the lowest market, so we are just purely stable with where we’re sitting as a state compared to other states.” This element of stability, regardless of national trends, makes Kentucky an ideal investment hub.

Excellent Investment Destination

Even amidst the current volatile economic climate, Kentucky stands tall as a secure market to invest in, largely immune to nationwide market fluctuations. Trgo confidently states that “Even if there’s a national drop, it doesn’t affect our state’s numbers.” This serves as an encouraging message to prospective investors and homebuyers looking to navigate the relatively calm Kentucky real estate waters.

Advice for Prospective Home Buyers

Trgo has one key piece of advice for prospective home buyers: “Figure out what your budget is, and always be in a position to make a move if a house comes up that you love and you’re able to just go in and make an offer right away.” She staunchly believes that hiring a lender could prove to be the greatest asset for home buyers looking to make a major move in Kentucky’s burgeoning real estate market.


HERE Lexington

Recent Posts

Winter Weather Advisory Issued as Lexington, Kentucky Sees First Snowfall of the Season

Lexington, Kentucky experienced its first snowfall of the season on Thursday morning, with snowfall starting…

19 hours ago

Valvoline Reports Strong Q4 Earnings with $92.3 Million Net Income

LEXINGTON, Ky. — Valvoline Inc. has reported a robust fiscal fourth-quarter net income of $92.3…

19 hours ago

ArtHouse Kentucky Creates Community Sanctuary for Artists and Visitors This Holiday Season

Lexington, Kentucky – As the holiday season approaches, ArtHouse Kentucky is positioning itself as a…

19 hours ago

Arrest Made in Sexual Assault Investigation Involving University of Kentucky Police

Lexington, Ky. — An arrest has been made in connection with a sexual assault investigation…

19 hours ago

Road Closures on Martin Luther King Boulevard Begin Monday for Sewer Construction in Lexington

Lexington city officials announced that a section of Martin Luther King Boulevard will undergo road…

19 hours ago