Cornelius, NC Real Estate Market Trends – October 2023

Cornelius NC Market Trends October 2023

When it comes to understanding the current real estate market for Cornelius, NC, there are several important metrics that can provide valuable insights for both buyers and sellers. Let’s dive into these metrics for October 2023 and explore the correlations between them to help you make informed decisions.

Months Supply

First, let’s talk about the “Months Supply of Inventory,” which is currently sits at 3.39. This metric represents the number of months it would take to sell all the available homes on the market, assuming no new listings are added. A lower number indicates a seller’s market, with limited inventory and potentially higher prices.

Cornelius NC Months Supply October 2023

Now, let’s look at the “12-Month Change in Months of Inventory,” which shows a significant increase of +62.98%. This indicates a substantial shift in the real estate market over the past year, with a significant increase in the number of available homes for sale. This increase in supply can lead to more balanced market conditions, potentially giving buyers more options to choose from.

Days On Market

Another important metric is the “Median Days Homes are On the Market,” which currently stands at 41. This metric measures the average number of days it takes for a home to sell after being listed. A lower number suggests a faster-paced market, indicating high demand and potentially multiple offers on properties.

Cornelius NC Days on Market October 2023

Sale Price Versus List Price

The “List to Sold Price Percentage” is another crucial metric, currently at 98.6%. This metric represents the percentage of the original listing price that sellers receive when they sell their homes. A higher percentage indicates that sellers are getting close to their asking price, suggesting a strong market where buyers may need to be competitive in their offers.

Cornelius NC Percetage of List Price October 2023

Median Sold Price

Finally, we have the “Median Sold Price,” which currently sits at $617,500. This metric represents the middle point of all the sold prices in a given area. It gives an indication of the overall price range in the market. When combined with other metrics, such as the supply of inventory and days on the market, it can help buyers and sellers gauge the pricing trends and competitiveness of the market.

Cornelius NC Median Sold Price October 2023

What The Numbers Mean

Taking all these metrics into consideration, we can see a correlation between the increase in the number of available homes (12-Month Change in Months of Inventory) and the median days homes are on the market. As the supply of inventory increases, it may take longer for homes to sell, potentially giving buyers more time to make decisions.

Additionally, the list to sold price percentage and median sold price can provide insights into the negotiation power of sellers. A higher list to sold price percentage and a higher median sold price could suggest a seller’s market, where sellers have more control and buyers may need to be prepared to make competitive offers.


Overall, these metrics paint a picture of the current Cornelius, NC real estate market, providing valuable information for both buyers and sellers. It’s important to keep in mind that real estate markets can vary greatly by location, so it’s always a good idea to consult with a local real estate professional to get a better understanding of the specific market dynamics in your area.


If you would like to see Cornelius listings of homes for sale or learn more about the area click here.



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.