Here is the Lexington Market Report for the 1st QTR 2024. Statistics include Median and Average Sales Price, Inventory Levels, Days on Market, and Months Supply. If you need assistance in buying or selling a home in Lexington, North Carolina contact Megan Clement with Keller Williams Realty at 336-239-7501.
- Lexington Market Report - 1st QTR 2024
- New Listings in Lexington
- Homes for Sale & Months Supply
- New Construction under 325K in Zip Code 27295
- Closed Homes
- Closed Sales & Pending Homes
- Median Sales Price & Average Sales Price - 10 Year Period
- About Grace Lee Meadows
- Shop Grace Lee Meadows
- Townhome Market in Lexington
- Earlier Market Reports for Lexington, NC
- Summary Lexington Market
- Map of Lexington in Davidson County
- Request More Information
Lexington Market Report – 1st QTR 2024
In the Lexington Market Report for the 1st QTR 2024, the Average Sales Price for a Single-Family Home is $294,594. This is an increase of +13.1% from the 1st QTR 2023. For Townhome Listings, the Average Sales Price is $310,000. This is a decrease of -12.2% from the 1st QTR 2023.
The Median Sales Price for Single-Family Homes is $273,990 in the Lexington Market Report in the 1st QTR 2024. This is an increase of +9.6% from the 1st QTR 2023. For Townhome Listings, the Median Sales Price is $317,500. This is a decrease of -8.0% from the 1st QTR 2023, when the Median Sales Price was $345,000.
At the end of the 1sr QTR 2024, there are 324 Single-Family Homes and 5 Townhomes were pending. Inventory at the end of March 2024, 232 Single-Family Homes and 1 Townhome listing are available for sale.
Sellers are receiving 98.3% of their list price for Single-Family Homes and 96.9% of their list price for Townhome Listings.
New Listings in Lexington
Homes for Sale & Months Supply
Lexington Inventory by Zip Code
Months Supply by Lexington Zip Code
New Construction under 325K in Zip Code 27295
Closed Homes
Lexington Market Report – 1st QTR 2024
A total of 267 Single-Family Properties closed during the 1st QTR in 2024. This is a decrease of -4.0% from 2023 when there were 278 closings. To understand how fast this market is moving, 50% of the closed homes in the 1st QTR of 2024 were under contract within the first 30 days on the market.
The most active price range were homes in the $200,000 to $299,999 range, which made up 59% of the closed properties.
Analysis of the absorption rate indicates an inventory of 2.3 months for Single-Family Homes and a 0.5 months supply for Townhome listings the end of the 1st QTR 2024.
Buyers might be interested in reading the following post on multiple offers.
Multiple Offer Strategies
Closed Sales & Pending Homes
Lexington Market Report – 1st QTR 2024
Closed Sales in zip codes 27292 and 27295
Lexington Market Report – 1st QTR 2024
Pending Homes in zip codes 27292 and 27295
Median Sales Price & Average Sales Price – 10 Year Period
| Primary Year | Sale Price, Median | Sale Price, Average |
|---|---|---|
| 2014 | $110,000 | $124,096 |
| 2015 | $120,000 | $135,498 |
| 2016 | $125,000 | $145,512 |
| 2017 | $135,495 | $151,646 |
| 2018 | $139,000 | $156,208 |
| 2019 | $147,000 | $166,647 |
| 2020 | $170,000 | $191,129 |
| 2021 | $205,000 | $219,154 |
| 2022 | $252,000 | $263,250 |
| 2023 | $264,995 | $263,443 |
| 2024 | $260,000 | $271,152 |
Time frame is from Jan 2014 to Mar 2024
About Grace Lee Meadows
Grace Lee Meadows is located off NC Hwy 8. Construction started in 2022 and the builder is D.R. Horton. Homes feature 1 and 2 stories with 3 or 4 bedrooms. Total living space ranges from 1,500 sq. ft. up to 2,700 sq. ft. Homes feature two car garage spaces. Most of the lots are around 1/2 acre.
There is a Homeowner’s Association and the dues are $28.00 paid monthly. Presently List Prices are in the low $300K range to mid $350K. The community is served by Davidson County Schools. The Elementary school is Southwood Elementary, Central Davidson Middle School and Central Davidson High School.
Shop Grace Lee Meadows
Townhome Market in Lexington
The Median Sales Price for a Townhome at the end of March 2024 is $317,500. This is a decrease of -8.0% from the 1sr QTR in 2023 when the Median Sales Price for a Townhome was $345,000.
The Average Sales Price for a Townhome is $310,000. This is a decrease of -12.2% from the 1st QTR in 2023 when the Average Sales Price for a Townhome was $353,000.
A total of 4 Townhomes closed during the 1st QTR in 2024. This is a decrease of -20% from 2023 when there were 5 closings.
Sellers are receiving 96.9% of their list price for Townhome properties.
Earlier Market Reports for Lexington, NC
Summary Lexington Market
Summary for Lexington, North Carolina
Lexington, NC Stats
New listings increased by +6.3% in the 1st QTR 2024 for Single Family Homes in Lexington, NC from the previous year. Pending Sales increased by +5.9%. Closed Sales decreased by -4.0% from the same time frame in 2023.
The Median Sales Price for a Single-Family Home is $273,990. This is an increase of +9.6% from the 1st QTR in 2023 when the Median Sales Price was also $249,950. The Average Sales Price for a Single-Family is $294,594 at the end of the 1st QTR 2024. This was an increase of +13.1% from the 1st QTR in 2023.
Sellers are receiving 98.3% of their list price. Inventory levels for Single Family Homes for Sales increased by +5.9% from 2023 levels. At the end of the 1st QTR 2024, 232 single-family homes were available in Lexington. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
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