Mooresville, NC Real Estate Market Trends – October 2023

Mooresville NC Market Trends October 2023

When it comes to the Mooresville, NC real estate market, there are several key metrics that can help both buyers and sellers make informed decisions. Let’s take a closer look at these metrics and the correlations between them.

Months Supply

First, let’s discuss the Months Supply of Inventory, which currently stands at 3.51. This metric measures the number of months it would take to sell all the existing homes on the market if no new listings were added. A lower supply of inventory indicates a seller’s market, as there are fewer homes available for buyers to choose from.

Mooresville NC Months Supply October 2023

Next, let’s examine the 12-Month Change in Months of Inventory, which is showing a significant increase of +43.85%. This indicates that the inventory of homes for sale has grown over the past year. This increase in supply could potentially shift the market towards a buyer’s market, giving buyers more options to choose from.

Days On Market

Our next metric is the Median Days Homes are On the Market, we find that it currently stands at 45 days. This metric measures the average number of days it takes for a home to sell once it is listed. A lower number of days on the market generally indicates a strong demand for homes, which can be favorable for sellers.

Mooresville NC Days on Market October 2023


Sale Price Versus List Price

Now let’s talk about the List to Sold Price Percentage, which is currently at 97.4%. This metric represents the percentage of the listing price that a home ultimately sells for. A higher percentage suggests that sellers are receiving offers close to their asking price, which indicates a strong market where buyers are willing to pay the listed price.

Mooresville NC Percetage of List Price October 2023

Median Sold Price

For our final metric, we have the Median Sold Price, which is currently at $514,900. This metric represents the middle point of all the sold prices in a given area. It shows the overall price trends in the market and can be useful for both buyers and sellers to understand the average price range.

Mooresville NC Median Sold Price October 2023

What The Numbers Mean

Now, let’s bring all these metrics together and analyze their correlations. With a relatively low Months Supply of Inventory, combined with an increase in the 12-Month Change in Months of Inventory, we can infer that the market may be transitioning from a seller’s market to a more balanced market. This shift may be reflected in the Median Days Homes are On the Market, which is currently at 45 days.

Furthermore, the List to Sold Price Percentage of 97.4% suggests that sellers are still able to negotiate offers close to their asking price, indicating a continued demand for homes. Finally, the Median Sold Price of $514,900 gives buyers and sellers an idea of the current price range in the market.


The Mooresville, NC real estate market shows some interesting changes from September to October 2023. While the months supply of inventory and the 12-month change suggest a slight decrease in housing supply, the increase in median days on the market and decrease in the list to sold price percentage indicate a potential shift towards a more balanced market. The notable increase in the median sold price suggests an overall upward trend in property values. Buyers may find more options, but sellers should be mindful of a changing market dynamic and price competitively.


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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.