Is Mill Springs, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mill Springs was a Neutral Market.
Key Takeaway
Mill Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mill Springs, KY
How much do homes in Mill Springs, KY cost?
Median Sold Price
$239,500
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mill Springs have sold for 20.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $160K | N/A |
| 2 Bedrooms | $100K | $197.5K | +97.5% |
| 3 Bedrooms | $177K | $192.5K | +8.8% |
| 4 Bedrooms | $370K | $350K | -5.4% |
| 5+ Bedrooms | $305K | $455K | +49.2% |
Summary: Mill Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 97.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 49.2%.
Housing Supply in Mill Springs, KY
How many homes are available in Mill Springs, KY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The Mill Springs real estate market had 18 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Mill Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mill Springs, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Mill Springs in May 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Mill Springs, KY
How long does it take to sell a home in Mill Springs, KY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 73 Days | 60 Days | -17.5% |
Summary: Homes in Mill Springs had an average of 60 days on market in May 2024, down by 17.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mill Springs has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Mill Springs; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Metro Search Multiple Listing Service. Real estate listings held by other Brokerage firms are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2024 Greater Louisville Association of Realtors. All Rights Reserved.