Is Lexington, KY 40507 a buyer’s or seller’s market?
Lexington is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Lexington housing market right now
In the three months ending August 31, 2026, 0% of homes in Lexington, KY 40507 sold above their list price, the typical home went under contract in 42 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 22%, homes sold faster (70 days then) and the median sale price fell 40% to $419,818. Overall, Lexington is less competitive than a year ago, which gives buyers more room.
Within Fayette County, homes here sell more slowly than in 92% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Lexington 40513 (45% sold over asking) and Lexington 40504 (38% sold over asking) are even more competitive.
Run the numbers for 40507
Nearby markets
Lexington 40502Seller’s market $253 /sq ftLexington 40503Seller’s market $212 /sq ftLexington 40504Seller’s market $184 /sq ftLexington 40505Seller’s market $170 /sq ft Browse all markets →Towns like Lexington nearby
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Questions about Lexington real estate
Is Lexington a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Lexington, KY 40507 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lexington?
The typical home went under contract in 42 days in the latest three months.
Do homes in Lexington sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.0% of the list price.
What are property taxes in Lexington?
About 0.87% of a home’s value a year in Fayette County, or roughly $3,480 on a $400,000 home.
What is the median home price in Lexington?
The median sale price was $419,818 in the three months ending August 31, 2026, about $323 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology