Is Phelps, KY 41553 a buyer’s or seller’s market?
Phelps is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Phelps housing market right now
In the three months ending August 31, 2026, 0% of homes in Phelps, KY 41553 sold above their list price, the typical home went under contract in 38 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, 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 (69 days then) and the median sale price fell 65% to $71,469. Overall, Phelps is more competitive than a year ago, so tougher for buyers.
Within Pike County, homes here sell faster 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, Kimper 41539 (25% sold over asking) and Virgie 41572 (20% sold over asking) are even more competitive.
Run the numbers for 41553
Nearby markets
Belcher 41513Seller’s market $74 /sq ftBelfry 41514Buyer’s market $61 /sq ftCanada 41519 — /sq ftElkhorn City 41522Seller’s market $104 /sq ft Browse all markets →Where Phelps is
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Questions about Phelps real estate
Is Phelps a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Phelps, KY 41553 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 Phelps?
The typical home went under contract in 38 days in the latest three months.
Do homes in Phelps sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 86.7% of the list price.
What are property taxes in Phelps?
About 0.69% of a home’s value a year in Pike County, or roughly $2,760 on a $400,000 home.
What is the median home price in Phelps?
The median sale price was $71,469 in the three months ending August 31, 2026, about $50 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