Clemmons & Lewisville Market Report – 3rd QTR 2022

3rd QTR 2022 Clemmons & Lewisville

Single-Family Homes

In the Clemmons & Lewisville Market 3rd QTR 2022, there are 127 Single-Family Homes marked pending.  At the end of September 2022, the available inventory for Single-Family Homes is 92 listings.

The Average Sales Price is $ 435,674 for a Single-Family Home.  This is an increase of +16.6% from the 3rd QTR in 2021 when the Average Sales Price was $ 373,542.

In the 3rd QTR 2022, the Median Sales Price is $ 399,950 for a Single-Family Home.  This is an increase of +16.8% from the 3rd QTR 2021 when the Median Sales Price was $ 342,565.

Analysis of the absorption rate for the Clemmons & Lewisville Market indicates an inventory of 1.5 months for Single-Family Homes.

Clemmons & Lewisville Market – 3rd QTR
2022

Clemmons & Lewisville Market – 3rd QTR 2022

Idolwood is a new subdivision located in Clemmons, NC.  Construction started in 2022 and Clayton Properties Group, Inc DBA Shugart Homes is the builder.  Homes styles vary from 1 story with bonus room to 1 1/2 story and 2 stories featuring 3 or 4 bedrooms.

Homes offer 2 car garage spaces.  The typical lot size is 1/4 acre.  Total living space ranges from 1,600 sq. ft. up to 3,500 sq. ft.  Schools serving the community are Clemmons Elementary School, Clemmons Middle School, and West Forsyth High School.

There is a Homeowner’s Association.  Currently, the HOA dues are $500 annually.  List Prices are in the mid 400K range and higher depending on the model.

In the 3rd QTR 2022 for the Clemmons & Lewisville Market, a total of 178 Single-Family homes closed in the Clemmons and the Lewisville areas. This is a decrease of -36.4% from the 3rd QTR in 2021 when 280 listings closed.

Of the closed properties in the 3rd QTR 2022, 90% of the listings were under contract in the first 30 days on the market.

The most active price ranges were homes in the $300,00 to $399,999 range and in the $200,000 to $299,999 range.  Combined both price ranges made up 49% of the closed properties in the 3rd QTR 2022.

Townhome Listings

At the end of the 3rd QTR 2022, 25 Townhome Listings were marked pending in the Clemmons & Lewisville Market.  There are 8 townhome listings available for sale.

The Average Sales Price is  $ 299,729 for a Townhome.  This is an increase of +42.5% from the 3rd QTR 2021 when the Average Sales Price was  $210,338.

The Median Sales Price is $ 315,000 for a Townhome in the 3rd QTR 2022.  This is an increase of +52.8% from the 3rd QTR 2021 when the Median Sales Price was $ 206,100 for a townhome property.

During the 3rd QTR 2022, 24 Townhome listings closed which is an increase of +41.2% from the 3rd QTR 2021 when 17 Townhome properties closed.

Analysis of the absorption rate for the Clemmons & Lewisville Market indicate 1.2 months inventory for Townhome properties.

Clemmons & Lewisville Market – 3rd QTR 2022

Clemmons & Lewisville Market – 3rd QTR 2022

New Listings decreased by – 43.8% in the 3rd QTR 2022 in the Clemmons & Lewisville Real Estate Market from the previous year.  Pending Sales decreased by – 49.8%.  Closed Sales showed a decrease of – 36.4% from the 3rdQTR in 2021.  Prices are still rising because of the inventory shortage.

The Median Sales Price for Single-Family Home is $ 399,950, which is an increase of + 16.8% from the 3rd QTR in 2021.  The Average Sales Price was $ 435,674 at the end of the 3rd QTR 2022.  This was an increase of + 16.6% from the 3rd QTR in 2021.

Sellers are receiving 100.4% of their list price.  Inventory levels for single-family homes decreased by -1.1% and inventory for townhomes increased by 100%.   At the end of September 2022, 92 Single-Family Homes and 8 Townhomes were available for sale.  Homebuyers in 2022 will continue to be challenged by the low inventory levels and rising prices.