Cornelius, NC Real Estate Market Trends – November 2023

Cornelius NC Real Estate Market Trends November 2023

In the world of real estate, there are several key metrics that buyers and sellers should pay attention to when considering a property transaction. These metrics provide valuable insights into the current state of the Cornelius, NC market and can help guide decisions regarding pricing, timing, and negotiations. Let’s take a closer look at the correlation between some of these important real estate metrics.

Months Supply

Firstly, let’s examine the Months Supply of Inventory, which currently stands at 1.71. This metric represents the number of months it would take to sell all the available homes on the market at the current sales pace. A lower supply of inventory generally indicates a seller’s market, where demand outstrips supply, leading to potentially higher prices and faster sales.

Cornelius NC Real Estate Months Supply of Home Inventory November 2023

Next, we have the 12-Month Change in Months of Inventory, which shows that there has been no change in the supply of homes over the past year. This suggests a stable real estate market, with neither an increase nor a decrease in available inventory. This information can be useful for both buyers and sellers, as it indicates a consistent level of market activity.

Days On Market

Moving on to the Median Days Homes are On the Market, we see that it takes an average of 43 days for a property to sell. This metric provides an insight into the pace of the market and how quickly homes are being bought. A shorter median time on the market suggests a more active market with higher demand, potentially leading to quicker sales.

Cornelius NC Real Estate Days on Market November 2023

Sale Price Versus List Price

The List to Sold Price Percentage is another crucial metric that buyers and sellers should consider. With a percentage of 98.4%, this indicates that on average, homes are selling very close to their list price. This can be positive news for sellers, as it suggests that they have priced their homes accurately and are receiving offers close to their desired amount. For buyers, it highlights the importance of making competitive offers to secure a property in this market.

Cornelius NC Real Estate Percetage of List Price to Sold Price November 2023

Median Sold Price

Lastly, we have the Median Sold Price, which currently stands at $550,000. This metric represents the midpoint of all the sold prices in a given market. It provides a snapshot of the overall price range and can be useful for both buyers and sellers in determining fair market value. Buyers can use this information to gauge affordability, while sellers can use it to set a competitive and realistic listing price.

Cornelius NC Median Sold Home Price November 2023

What The Numbers Mean

In summary, these real estate metrics provide valuable insights into the current state of the Cornelius market. The Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price all work together to paint a picture of the market’s health and activity. Buyers and sellers can use this data to make informed decisions, whether it be regarding pricing, timing, or negotiation strategies.


In essence, these metrics offer insights into the present real estate landscape, supplying valuable data for individuals looking to buy or sell property. It’s crucial to bear in mind that real estate conditions differ significantly based on location, making it advisable to seek guidance from a local real estate expert for a more comprehensive understanding of the unique market dynamics in your vicinity.


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About the Author

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.