Cornelius, NC Real Estate Market Report – December 2023

Chart for Cornelius NC Real Estate Market Trends Report December 2023

Cornelius, NC Real Estate Market Trends For December 2023

Ladies and gentlemen, today we have some exciting real estate metrics to discuss that will surely pique the interest of both buyers and sellers. So, let’s dive right in and explore the fascinating correlations between these data points for the Cornelius, NC market.

Months Supply

First off, we have the “Months Supply of Inventory” which currently stands at a low 1.28. This metric is a reflection of the number of months it would take to sell all the available homes on the market if no new listings were added. A low months supply of inventory generally indicates a seller’s market, where demand outpaces supply. This can create a sense of urgency among buyers, as competition for homes intensifies.

Now, let’s move on to the “12-Month Change in Months of Inventory” which shows a significant decrease of -29.67%. This impressive decrease indicates a decreasing trend in the number of months it takes to sell all the available homes. It suggests that the market has become even more competitive and fast-paced compared to the previous year. Sellers can take solace in knowing that their homes are likely to be sold relatively quickly.

Days On Market

Next, we have the “Median Days Homes are On the Market” which currently stands at a mere 34 days. This metric reveals the average number of days it takes for a home to go from listing to being sold. With such a short duration, it’s clear that the real estate market is moving at lightning speed. Buyers need to be prepared to make quick decisions and act promptly if they want to secure their dream home.

Sale Price Versus List Price

Moving on, we have the “List to Sold Price Percentage” which currently stands at 96.8%. This metric indicates the percentage of the listing price that homes are actually selling for. A high percentage like this suggests that sellers are generally receiving offers close to their asking price. This can be encouraging for sellers who are looking to maximize their return on investment.

Median Sold Price

Lastly, we have the “Median Sold Price” which currently sits at an impressive $728,500. This metric represents the middle point of all the sold home prices in the market. A higher median sold price indicates a robust real estate market with strong demand and potentially appreciating property values. Sellers can take comfort in knowing that their properties have the potential to fetch a handsome price.

What The Numbers Mean

In summary, these real estate metrics paint a compelling picture for both buyers and sellers. With a low months supply of inventory, decreasing trend in inventory, short durations for homes on the market, high list to sold price percentages, and a solid median sold price, it’s clear that the market favors sellers. However, buyers need not despair as these metrics also highlight the need for quick decision-making and the potential for finding their dream home.

Conclusion

So, whether you’re a buyer or a seller, the current real estate market presents exciting opportunities. Buyers, be ready to act swiftly, and sellers, rejoice in the potential for a profitable sale. Happy house hunting and selling!

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About the Author

Bill Adams, REALTOR®

Owner/Broker of Allen Adams Realty

Bill Adams, a North Carolina native, is founder and Owner/Broker of Allen Adams Realty, a boutique agency focused on personalized real estate services. The name “Allen Adams Realty” is derived from Bill’s full given name which is William Allen Adams.

Bill, after obtaining both a real estate sales license and an appraisal license, began his real estate career in 1998 after successful careers in the racing and automotive industries. First, a concentration on real estate appraisal services allowed Bill to gain detailed knowledge and insights into the many different facets of the greater Lake Norman and Charlotte metro real estate markets. This allowed Bill to truly understand real estate values and local markets and expand into doing both appraisal and real estate sales. Then in 2004, armed with his experience, knowledge, and expertise, Bill started his own firm and called it Allen Adams Realty. In the early years of his new firm Bill continued to do both real estate appraisal and sales and then after the downturn of the market in the late 2000’s Bill has focused solely on real estate sales.

Bill strives for excellence in all aspects of his relationship with each and every client and prides himself on providing premier dedicated and personal professional service. Bill has successfully represented a wide range of clientele from international high-end luxury buyers to young families buying their first home. Through his wide reaching marketing he has also developed a large part of his business helping those buying second homes on Lake Norman or relocating to the area. Bill’s varied background and seasoned experience has made him a trusted and highly rated expert, which has been validated by being awarded multiple Five Star Professional Award for Real Estate awards. An award given to only the top 7% of real estate agents in the entire Charlotte market area.

On a personal note, Bill has lived most of his life in North Carolina and has lived in the Lake Norman area since 1997. He currently lives in the wonderful small college town of Davidson with his lovely wife Lindsey, beautiful daughter, and beloved dog. Beyond real estate, he enjoys boating on the lake, spending time with friends and family, most all things motorsports, cars, motorcycles, Panthers football, being active, hiking and exploring in the nearby mountains, vacations to the beach, traveling, as well as many other things.