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Is Lily, KY 40740 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Lily is a buyer’s market. With about 7.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply7.2Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list96.7%Sold price ÷ list price
Median days on market86Listing to accepted offer
Median price per sq ft$140▼ −4.9% vs. last year

The Lily housing market right now

In the three months ending August 31, 2026, 0% of homes in Lily, KY 40740 sold above their list price, the typical home went under contract in 86 days and there were 7.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (129 days then) and the median sale price held steady to $264,386. Overall, Lily is more competitive than a year ago, so tougher for buyers.

Within Laurel County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, East Bernstadt 40729 (15% sold over asking) and London 40744 (14% sold over asking) are even more competitive.

Run the numbers for 40740

Prefilled for 40740Can I win this house?Multiple-offer likelihood for a listing Prefilled for 40740Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

East Bernstadt 40729Balanced $119 /sq ftKeavy 40737Seller’s market $173 /sq ftLondon 40741Balanced $149 /sq ftLondon 40744Balanced $156 /sq ft Browse all markets →

Towns like Lily nearby

Find towns like Lily in other states →
Brodhead, KY40409 · 33 miles away75% similar10 min longer commute London, KY40744 · 7 miles away73% similarpricier homes ($62K more) · larger London, KY40741 · 10 miles away73% similarpricier homes ($57K more) · larger Science Hill, KY42553 · 36 miles away73% similarpricier homes ($43K more) · more homeowners

Where Lily is

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Questions about Lily real estate

Is Lily a buyer’s or seller’s market?

A buyer’s market: there were 7.2 months of supply in Lily, KY 40740 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 Lily?

The typical home went under contract in 86 days in the latest three months.

Do homes in Lily sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.7% of the list price.

What are property taxes in Lily?

About 0.57% of a home’s value a year in Laurel County, or roughly $2,280 on a $400,000 home.

What is the median home price in Lily?

The median sale price was $264,386 in the three months ending August 31, 2026, about $140 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