Is Oil Springs, KY 41238 a buyer’s or seller’s market?
Oil Springs is a seller’s market. With about 1.6 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Oil Springs housing market right now
In the three months ending August 31, 2026, 0% of homes in Oil Springs, KY 41238 sold above their list price, the typical home went under contract in 102 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 2 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 (226 days then) and the median sale price fell 18% to $184,920. Overall, Oil Springs is more competitive than a year ago, so tougher for buyers.
Within Johnson County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Paintsville 41240 (11% sold over asking) is even more competitive.
Run the numbers for 41238
Nearby markets
Boons Camp 41204 — /sq ftFlatgap 41219Buyer’s market $60 /sq ftHagerhill 41222Balanced $81 /sq ftMeally 41234 — /sq ft Browse all markets →Where Oil Springs is
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Questions about Oil Springs real estate
Is Oil Springs a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Oil Springs, KY 41238 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 Oil Springs?
The typical home went under contract in 102 days in the latest three months.
Do homes in Oil Springs sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.8% of the list price.
What are property taxes in Oil Springs?
About 0.66% of a home’s value a year in Johnson County, or roughly $2,640 on a $400,000 home.
What is the median home price in Oil Springs?
The median sale price was $184,920 in the three months ending August 31, 2026, about $104 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