Is Water Valley, KY 42085 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Water Valley is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Water Valley housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Graves County, KY

Population	914
Median income	$57,679
Average income	$53,308
Median home value	$106,000
Median rent	$746/month
Owner-occupied	70% of homes
Median year built	1974

Natural hazard riskEarthquakes (very high), tornadoes (relatively high), winter storms (relatively high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 42085; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 42085

Prefilled for 42085Can I win this house?Multiple-offer likelihood for a listing Prefilled for 42085Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Boaz 42027Seller’s market $102 /sq ft Fancy Farm 42039Balanced $136 /sq ft Farmington 42040 $103 /sq ft Hickory 42051Seller’s market $141 /sq ft Browse all markets →

Where Water Valley is

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Questions about Water Valley real estate

What are property taxes in Water Valley?

About 0.66% of a home’s value a year in Graves County, or roughly $2,640 on a $400,000 home.

Local agents

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More tools for 42085

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Graves County property taxes Graves County loan limits Closing costs in Kentucky Hottest ZIP codes in Kentucky

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology