Mooresville, NC Real Estate Market Report

Mooresville, NC Real Estate Market Report – January 2024

Chart of Mooresville NC Real Estate Market Trends January 2024

Mooresville, NC Real Estate Trends For January 2024

When looking at the real estate market data, we can see a correlation between several key metrics that can provide valuable insights for both buyers and sellers.

Months Supply

First, let’s take a look at the Months Supply of Inventory, which is currently at 2.1 months. This metric indicates how long it would take for all the current homes on the market to sell at the current pace of sales. A lower number like 2.1 months suggests a seller’s market, where demand is high and supply is limited.

Next, the 12-Month Change in Months of Inventory is -28.08%, showing a significant decrease in the amount of time it would take to sell all the available homes compared to a year ago. This decrease further supports the idea of a competitive seller’s market.

Days On Market

The Median Days Homes are On the Market is 34 days, indicating that homes are selling relatively quickly. This can be attributed to the low inventory levels and high demand in the market.

Sale Price Versus List Price

The List to Sold Price Percentage is 98.4%, showing that homes are typically selling very close to their asking price. This can be a positive sign for sellers, as it suggests that they are pricing their homes accurately and buyers are willing to pay close to the listing price.

Median Sold Price

Finally, the Median Sold Price is $489,639, giving an idea of the average price at which homes are selling in the current market. This can be helpful for both buyers and sellers in understanding the price trends in the area.

What The Numbers Mean

The current real estate market is marked by low inventory, leading to increased competition among buyers. Homes are selling quickly, close to their listing prices, indicating a competitive landscape. Buyers may face challenges finding available properties, while sellers have the opportunity for swift and favorable sales. Staying informed and seeking guidance from a real estate agent is essential for navigating these market conditions effectively.

Conclusion

Overall, these metrics paint a picture of a competitive real estate market with low inventory levels, quick sales, and homes selling close to their asking prices. Buyers may need to act fast in this market, while sellers may have an advantage with strong demand and favorable pricing conditions.

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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.