Prospect, Kentucky - Real Estate Market Update January 2024 - Presented by Totally About Houses

🔎 Attention Buyers and Sellers! 🔎

✨ Exciting news from the Prospect housing market! ✨

🔸 Months Supply of Inventory: Currently at 2.24 months, indicating a competitive market. But don't worry, we've got strategies to help you navigate it! 🏠💼

📈 Over the last 12 months, we've seen a significant increase of +61.15% in the Months Supply of Inventory. This suggests a growing demand for homes in our area. 📈🔥

💰 Sellers, pay attention! 💰

✅ List to Sold Price Percentage: Our market is strong, with homes selling for an impressive 97.4% of their list price. Now is a great time to maximize your return on investment! 💵💪

⏰ Buyers, let's find your dream home! ⏰

⏳ Median Days on Market: Homes in Prospect are selling fast, spending an average of just 54 days on the market. Don't miss out, act swiftly! ⏳⚡

💲 Median Sold Price: The median sold price for homes in our area is $690,000. This indicates a thriving real estate market with great potential for both buyers and sellers. 💲📈

🔵 Whether you're buying or selling, I'm here to guide you every step of the way. Contact me today to take advantage of these market trends! 🤝🏡

#ProspectKYRealEstate #MonicaDunlapRealtor #TotallyAboutHouses #RealEstateMarketUpdate

Hello everyone, and welcome back to Totally About Houses! I'm your trusted realtor here in beautiful Prospect Kentucky. Today, I'm excited to bring you a market update for the month of December 2023. Whether you're a buyer or a seller, this information is crucial for making informed decisions in our ever-changing real estate market.

Let's dive right into the numbers. Currently, we have a two point twenty four Months Supply of Inventory. This means that if no new homes were listed, it would take just a little over two months to sell all the existing homes on the market. Now, let's compare this to the previous year. Over the last 12 months, the Months Supply of Inventory has increased by an impressive 61.2%. This indicates a shift towards a more balanced market, providing both buyers and sellers with opportunities.

Another important metric to consider is the List to Sold Price percentage. In our area, the List to Sold Price percentage stands at a strong ninety seven point thirty six percent. This means that on average, sellers are receiving ninety seven point thirty six percent of their initial list price. It's a clear indication that sellers have the ability to negotiate, while buyers can still find value in their purchases.

Now, let's talk about the median days on market. Currently, homes in Prospect have a median time on market of 54 days. This is a valuable insight for both buyers and sellers, as it helps set realistic expectations in terms of how long a property may take to sell or how quickly they need to act when a desirable listing hits the market.

Last but certainly not least, let's discuss the median sold price. In December 2023, the median sold price in Prospect Kentucky is $690,000. This figure reflects the midpoint of all home sales in our area, providing a snapshot of the local market's overall performance.

Now that we've covered these key market statistics, you can see why staying informed is crucial when it comes to buying or selling a home. As always, if you have any questions or would like a more personalized analysis of your specific situation, feel free to reach out to me at Totally About Houses. I'm here to help you navigate the real estate market with confidence and expertise.

That's all for today's market update. Thank you for watching, and be sure to subscribe to our channel for more valuable insights and local real estate information. Until next time, take care and happy house hunting!