Greater Lexington Area Market Report
Fayette, Bourbon, Scott, Madison, Woodford, and Clark Counties · Data through August 2026 (Year-to-Date)
This report summarizes single-family home sale activity across the Lexington metro (Bluegrass Area), Fayette County overall, and three representative Fayette County zip codes — 40502 (Chevy Chase / Ashland Park), 40509 (Hamburg / East Lexington), and 40515 (Tates Creek / South Lexington). All figures are year-over-year comparisons of August activity and year-to-date totals, sourced from ImagineMLS data as of September 17, 2026.
Prices Climb, Pace Cools
Home values across Fayette County and the Greater Lexington Area continued to rise through the summer, but the pace of sales activity has softened. Fayette County's year-to-date median sale price for single-family homes reached $374,031, up 4.2% from a year ago, with the average price per square foot climbing 2.8% to $202. At the same time, August closings fell 9.0% year-over-year (605 vs. 665), even as new listings rose 3.1% — a combination that points to inventory building faster than it is being absorbed.
Zooming out to the immediate counties tells a similar story: year-to-date median price is up 4.4% to $287,000, but August sold listings dropped 4.6% and the median days on market ticked up from 24 to 25. New listings, meanwhile, grew a healthy 6.1% year-to-date. Taken together, the region appears to be shifting gradually toward more balance — still a seller-favorable market historically, but with buyers gaining a bit more selection and negotiating room than a year ago.
Conditions vary meaningfully by neighborhood. Zip 40502 saw an extraordinary 22.9% year-to-date jump in median price, driven almost entirely by a surge in $1 million-plus sales, which now account for roughly a quarter of that zip's closings. Zip 40509 posted the most broadly healthy fundamentals of the group — sold listings up 19.3% year-to-date with price growth holding steady near 2–3%. Zip 40515 was more mixed: new listings surged nearly 16% while August closings fell by a third year-over-year, suggesting supply is currently outpacing demand in that pocket of the market.
Fayette County
The core of the Bluegrass market and the benchmark against which neighborhood-level activity is measured.
| Metric | 2025 | 2026 | YoY |
|---|---|---|---|
| New Listings | 350 | 357 | +2.0% |
| Sold Listings | 314 | 268 | -14.6% |
| Median Sales Price | $375,000 | $379,900 | +1.3% |
| Avg. $/SqFt | $200 | $199 | -0.5% |
| Above/Below Asking | -1.69% | -1.40% | +0.30 pts |
| Days on Market (median) | 9 | 9 | 0 |
| Metric | 2025 | 2026 | YoY |
|---|---|---|---|
| New Listings | 3,067 | 3,167 | +3.1% |
| Sold Listings | 2,237 | 2,361 | +5.5% |
| Median Sales Price | $359,000 | $374,031 | +4.2% |
| Avg. $/SqFt | $196 | $202 | +2.8% |
| Above/Below Asking | -1.38% | -1.26% | +0.11 pts |
| Days on Market (median) | 9 | 10 | +1 |
Fayette County's price growth remains solid, but the county logged notably fewer August closings than a year ago (-14.6%) despite a modest rise in new listings. The county's sales mix skews toward the upper end this year: $500K–$999K sales are all up double digits year-to-date (24.6% to 27.3%), while sub-$200K sales continue to shrink (-49.3% to -12.8%) — a reflection of tightening affordability at the entry level.
Bluegrass Area / Lexington Metro
Fayette County plus the surrounding counties that make up the broader Bluegrass market.
| Metric | 2025 | 2026 | YoY |
|---|---|---|---|
| New Listings | 2,241 | 2,161 | -3.6% |
| Sold Listings | 1,623 | 1,548 | -4.6% |
| Median Sales Price | $277,500 | $286,000 | +3.1% |
| Avg. $/SqFt | $181 | $172 | -4.9% |
| Above/Below Asking | -2.69% | -2.69% | -0.00 pts |
| Days on Market (median) | 21 | 23 | +2 |
| Metric | 2025 | 2026 | YoY |
|---|---|---|---|
| New Listings | 17,673 | 18,743 | +6.1% |
| Sold Listings | 11,729 | 12,214 | +4.1% |
| Median Sales Price | $275,000 | $287,000 | +4.4% |
| Avg. $/SqFt | $177 | $178 | +0.7% |
| Above/Below Asking | -2.66% | -2.62% | +0.04 pts |
| Days on Market (median) | 24 | 25 | +1 |
Across all property types in the broader metro, the pattern mirrors Fayette County: rising prices alongside a slower pace of closings. New listings are up meaningfully (+6.1% YTD), which is beginning to show up as slightly longer days on market. The region remains active, but 2026 looks less frenetic than 2025.
Zip Code Comparison
40502 (Chevy Chase / Ashland Park) · 40509 (Hamburg / East Lexington) · 40515 (Tates Creek / South Lexington)
40502 — Chevy Chase / Ashland Park
| Metric | Aug '25 | Aug '26 | Δ | YTD '25 | YTD '26 | Δ |
|---|---|---|---|---|---|---|
| New Listings | 32 | 36 | +12.5% | 304 | 299 | -1.6% |
| Sold Listings | 26 | 25 | -3.8% | 199 | 216 | +8.5% |
| Median Sales Price | $524,900 | $849,900 | +61.9% | $585,000 | $719,000 | +22.9% |
| Avg. $/SqFt | $281 | $288 | +2.4% | $255 | $274 | +7.4% |
| Days on Market | 11 | 4 | -7 | 6 | 14 | +8 |
The most dramatic shift in the group. Median price is up nearly 23% year-to-date, and $1M+ sales now make up 58 of the zip's 216 YTD closings (roughly 27%, and up 100% year-over-year). This is a small, low-volume zip where a handful of high-end sales can move the median substantially — the underlying trend is real, but the number of transactions behind it is modest.
40509 — Hamburg / East Lexington
| Metric | Aug '25 | Aug '26 | Δ | YTD '25 | YTD '26 | Δ |
|---|---|---|---|---|---|---|
| New Listings | 52 | 62 | +19.2% | 545 | 605 | +11.0% |
| Sold Listings | 48 | 50 | +4.2% | 367 | 438 | +19.3% |
| Median Sales Price | $470,000 | $449,900 | -4.3% | $454,409 | $465,000 | +2.3% |
| Avg. $/SqFt | $207 | $196 | -5.2% | $200 | $200 | +0.3% |
| Days on Market | 11 | 9 | -2 | 11 | 11 | 0 |
The healthiest fundamentals of the three zips: sold listings up 19.3% year-to-date alongside steady, moderate price appreciation (+2.3%) and flat days on market. New listings are up 11%, but demand has kept pace — a sign of a well-balanced, actively absorbing market.
40515 — Tates Creek / South Lexington
| Metric | Aug '25 | Aug '26 | Δ | YTD '25 | YTD '26 | Δ |
|---|---|---|---|---|---|---|
| New Listings | 53 | 56 | +5.7% | 409 | 474 | +15.9% |
| Sold Listings | 54 | 36 | -33.3% | 329 | 339 | +3.0% |
| Median Sales Price | $495,000 | $462,500 | -6.6% | $415,000 | $430,000 | +3.6% |
| Avg. $/SqFt | $196 | $196 | +0.1% | $192 | $194 | +1.0% |
| Days on Market | 7 | 6 | -1 | 9 | 10 | +1 |
The most mixed picture: new listings jumped nearly 16% year-to-date, but August closings fell a third year-over-year, and August's median price dropped 6.6%. Year-to-date price is still up modestly (+3.6%), but the growing gap between new supply and August sales pace is worth watching in the months ahead.