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Featured local agent — Prospect, KY
Sarah Mitchell
Compass Real Estate · Prospect, KY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Prospect, KY Housing Market & Real Estate
Housing market overview · Updated monthly ·
$563,000median sale price
How is the Prospect, KY housing market right now?
The median home sale price in Prospect, KY is $563,000, down 19.6% year-over-year. Homes sell in an average of 39 days with 40 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Prospect a buyer's or seller's market?
Prospect, KY is currently a balanced market, based on 5.0 months of supply and homes selling in about 39 days. How we determine this →
Homes sold
8
Last 12 weeks
Days on market
39
Average pace
Active listings
40
5.0 months supply
Sale-to-list
99.1%
Below asking
What does the Prospect housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $563,000 |
| Median list price | $582,500 |
| Year-over-year price change | -19.6% |
| Average days on market | 39 days |
| Active inventory | 40 listings |
| Months of supply | 5.0 months |
| Sale-to-list price ratio | 99.1% |
| Median price per sq ft | $162/sq ft |
| Homes sold (latest month) | 8 |
| New listings (latest month) | 18 |
| Listings with a price cut | 22.5% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Prospect by property type?
How the Prospect, KY market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $563,000 | $162/sq ft | 8 | 39 days |
| Condo / Co-op | $350,000 | $177/sq ft | 2 | 61 days |
| Townhouse | $375,000 | $137/sq ft | 1 | 46 days |
Source: Redfin · Updated monthly
The Prospect housing market is currently classified as a balanced market with a median sale price of $563,000. Prices have fallen 19.6% compared to last year, with homes spending an average of 39 days on market, indicating 5.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.7x provides context for how home values compare to local earning capacity.
Homes for sale in Prospect
There are currently 40 homes listed for sale in Prospect, Kentucky. The median listing price is $583K.
Active listings
40
Homes on market
Median list price
$583K
Avg. days on market
39
Days until sale
New this week
18
Newly listed
Who lives in Prospect?
Population
4,518
Median income
$172,361/yr
Median age
55.2 years
Owner-occupied
92.0%
College grads
71.4%
Avg commute
22.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Prospect?
Zillow home value
$639,019
Zillow rent index
$2,343/mo
Price-to-rent ratio
22.7x
Price-to-income
3.7x
Source: Zillow Research
What is it like to live in Prospect?
Prospect is a community of approximately 5K residents with a median age of 55.2 years.The median household income is $172,361, which reflects a relatively affluent area with strong earning potential. 71.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 92.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 22.1 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Prospect offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Prospect?
2 schools tracked · 1,233 students
The largest public schools serving Prospect, KY by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Norton Commons Elementary
Grades PK-5 · 619 students
Goshen At Hillcrest Elementary School
Grades K-5 · 614 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Prospect, KY?
Want a head-to-head view? Compare Prospect side-by-side with any other U.S. city using our market-comparison tool.
Is Prospect a good real estate investment market?
For investors evaluating Prospect, the price-to-rent ratio of 22.7x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 19.6% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Prospect's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Prospect's median home price.
Frequently asked questions
What is the average home price in Prospect?
The median home sale price in Prospect is $563,000, down 19.6% from last year.
How long do homes stay on market in Prospect?
Homes typically spend 39 days on market before going under contract.
What is the median income in Prospect?
The median household income is $172,361 per year.
Is Prospect a buyer's or seller's market?
With 5.0 months of supply, Prospect is currently a balanced market.
What is the Zillow home value estimate for Prospect?
The Zillow Home Value Index (ZHVI) for Prospect is $639,019, representing the typical home value in the area.
What is the median condo price in Prospect?
The median condo/co-op sale price in Prospect, KY is $350,000, compared to $563,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Prospect?
The median single-family home price in Prospect, KY is $563,000 (about $162 per square foot).
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