Corbin, KY Real Estate Market Overview: Trends & Insights

Have you ever wondered if now is the right time to buy or sell a home in Corbin, KY? The real estate market is always changing, and understanding the latest trends can make a huge difference in your investment decisions. Whether you're a first-time homebuyer, a seasoned investor, or looking to sell, knowing the local market can help you get the best deal. In this overview, we’ll break down the key insights so you can make smart, informed choices in Corbin’s real estate market.

Have you noticed how home prices in Corbin, KY, have been changing recently?

• Median Sale Price: In January 2025, the median sale price for homes in Corbin was $191,500, reflecting an 11.3% increase from the previous year.
• Average Home Value: The average home value in Corbin stood at $156,001, marking a 3.1% rise over the past year.
• Median Listing Price: Homes were listed at a median price of $249,450 as of January 31, 2025.
• Median Days on Market: On average, homes in Corbin sold after 87 days on the market, an improvement from 109 days the previous year.

These figures suggest that while homes are selling at higher prices, the overall value appreciation is steady. Understanding these trends can help you make informed decisions about buying or selling property in Corbin. For sellers, this trend suggests favorable conditions to list properties, while buyers may need to act promptly to secure desired homes.

In January 2025, homes in Corbin, KY, sold after an average of 87 days on the market, a notable improvement from 109 days the previous year. This quicker turnaround suggests a more dynamic market.

Additionally, there were 101 active home listings, with 16 new properties entering the market during the same period. These trends highlight the importance of staying updated on market dynamics when considering real estate decisions in Corbin.

When comparing Corbin, KY's real estate market to its neighboring areas, distinct trends emerge. In February 2025, North Corbin's median home sold price was $190,000, reflecting a slight decrease of 0.3% from the previous year.

Similarly, the 40701-zip code experienced a 9.82% decrease in median sale price, with homes selling for a median price of $188,250 in January 2025. In contrast, Corbin's median home value increased by 3.1% over the past year, reaching $156,001 as of January 31, 2025. These variations underscore the importance of localized market analysis when making real estate decisions in the Corbin area.

Economic and demographic factors significantly influence Corbin, KY's real estate market. Between 2021 and 2022, the city's population grew by 2.55%, reaching 8,611 residents. During the same period, the median household income rose from $45,307 to $52,929. This population growth and increased income levels have likely bolstered housing demand and affordability.

Additionally, Corbin's employment rate stands at 93.74%, reflecting a stable job market that supports a robust housing sector. These trends underscore the importance of considering economic indicators and demographic shifts when evaluating Corbin's real estate landscape.

Understanding Corbin's demographic trends is crucial for grasping its real estate market dynamics. As of 2024, Corbin's population is estimated at 7,843, reflecting a stable growth rate. This steady population supports consistent demand in the housing market.

For buyers, this means a reliable environment for property investments. Sellers can anticipate sustained interest in their listings. Investors may find opportunities in rental properties, given the stable population base. Staying informed about these demographic trends is essential for making well-founded real estate decisions in Corbin.

FAQs

1. Is Corbin currently a buyer's or seller's market?
   As of January 2025, Corbin is considered a seller's market, with high demand and limited inventory.
2. What are the current mortgage rate trends?
   Mortgage rates are projected to decrease slightly in 2025.
3. Are there new housing developments in Corbin?
   An increase in housing inventory is anticipated due to new construction projects.
4. How does Corbin's real estate market compare to neighboring areas?
   Neighboring areas like North Corbin have seen slight decreases in median sold prices, while Corbin has experienced an increase.
5. Is now a good time to invest in Corbin real estate?
   Given the current trends and projections, it may be a favorable time to invest, but individual circumstances should be considered.