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LEXINGTON, KY 40508

Real Estate Market Report  ·  Fayette County
Buyer's Market
March 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 40508

Aylesford · Aylesford Place · Bell Court · Brucetown · Columbia Heights · Constitution · Davis (Davis Bottoms) · Eastside · Elsmere Park · Fayette Park (Fayette Park Enhancement) · Galberith · Georgetown · Grosvenor Ave · Historic South Hill · M L King · Melrose-oak Park · Mulberry Hill · North Elizabeth St · North Upper St · Northeast Lexington Residential · Northside Historic Residential · Ohio-Chestnut Street · Pleasant Green Hill · South Hill · Southeast Lexington · Speigle Heights · Transylvania Park · Western Suburb · Woodland Triangle · Woodward Heights

Market Analysis

Data as of March 2026. Source: Realtor.com.

The LEXINGTON, KY real estate market (40508) currently shows 67 active listings, with 14 pending sales. Homes are averaging 64 days on the market before going under contract.

Inventory has increased compared to last year, with 25 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 64 days on market compared to 50 days last year.

The median listing price has risen 6.6% year-over-year, from $227,450 to $242,500.

Whether you are buying or selling in LEXINGTON, KY, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 25,518  ·  Density: 2,342.2/mi²  ·  Median household income: $27,711

Typical home value: $142,514  ·  Homeownership: 27.5%

Market Overview

Active Listings
67
⇧ 59.5% vs 42 last year
Pending
14
21% pending ratio
Median Price
$242,500
⇧ 6.6% vs $227,450 last year
Average Price
$289,155
⇩ 14.1% vs $336,512 last year
Days on Market
64
⇧ 28% vs 50 days last year

Price Per Square Foot

Median $/sqft
$198
⇩ 5.7% vs $210/sqft last year
Median Home Size
1,230 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 67 this year vs 42 last year
  • Days on market: 64 now vs 50 last year

Median & Average Pricing

Year over Year
  • Median: $242,500 (+6.6% YoY)
  • Average: $289,155 (-14.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 23.8 miles — 1,468 listings ($727,532,388 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
40508Lexington, KY 405080.0 mi58$16,616,942$243,500$286,499
40504Lexington, KY 405042.3 mi41$18,363,203$282,225$447,883
40502Lexington, KY 405022.7 mi89$73,923,044$603,475$830,596
40517Lexington, KY 405174.6 mi81$21,605,049$249,900$266,729
40514Lexington, KY 405145.8 mi31$12,260,407$357,500$395,497
40513Lexington, KY 405136.3 mi36$23,078,052$629,000$641,057
40509Lexington, KY 405098.2 mi186$100,873,194$511,175$542,329
40356Nicholasville, KY 4035612.7 mi279$156,036,051$436,641$559,269
40324Georgetown, KY 4032413.9 mi245$106,943,235$407,243$436,503
40390Wilmore, KY 4039016.4 mi25$25,124,700$1,331,250$1,004,988
40391Winchester, KY 4039120.1 mi134$61,190,296$301,675$456,644
40475Richmond, KY 4047522.4 mi257$109,569,637$350,000$426,341
40370Sadieville, KY 4037023.8 mi6$1,948,578$207,500$324,763

Frequently Asked Questions

How many homes are for sale in LEXINGTON, KY 40508?

As of March 2026, there are 67 active listings in LEXINGTON, KY (zip code 40508), compared to 42 the prior year.

What is the median home price in LEXINGTON, KY 40508?

The median listing price in LEXINGTON, KY 40508 is $242,500 as of March 2026, a 6.6% increase from $227,450 the prior year.

How long do homes stay on the market in LEXINGTON, KY?

Homes in LEXINGTON, KY 40508 spend an average of 64 days on the market before going under contract, compared to 50 days the prior year.

Is it a seller's or buyer's market in LEXINGTON, KY 40508?

Based on current inventory and days-on-market data as of March 2026, LEXINGTON, KY 40508 is currently a Buyer's Market. Inventory has increased compared to last year, with 25 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 64 days on market compared to 50 days last year.

How much can I save on real estate commission in LEXINGTON, KY?

With SELL123.com's maximum 3% commission, sellers in LEXINGTON, KY 40508 save an estimated $4,850 compared to a typical 5% commission on the median listing price of $242,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.