Inventory in Boone County has been building, with active listings up nearly 13 percent from a year ago. New listings also climbed strongly year over year, rising almost 19 percent even as pending sales dropped more than 12 percent. Homes sold fell about 7 percent from last September, showing that supply is outpacing demand.
Pricing has started to reflect this softer contract flow. The typical home value is down just over 3 percent compared with a year earlier, and the median list price is essentially flat with only a slight annual uptick. Months of supply has expanded to 2.2 months, up more than 45 percent year over year, which is still leaner than Kentucky overall at 3.9 months of supply.
Despite this higher inventory, homes are not languishing on the market, with a median of 19 days to go under contract and nearly 47 percent going off market within two weeks. The share of homes selling above list price has slipped to about 12 percent, and the average sale-to-list ratio has edged just below 99 percent, signaling that sellers are conceding a bit on pricing but not dramatically. Compared with statewide figures, Boone County’s home values remain higher than the Kentucky median, even after the recent dip. Buyers face more options and slightly more negotiating power, while sellers still benefit from relatively quick sales, and Agent Pronto can connect both buyers and sellers with a local agent who understands these shifts.
