Enjoy this Lexington Market Report for the 2nd QTR 2022. 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 – 2nd QTR 2022
In the Lexington Market Report for the 2nd QTR 2022, there are 355 Single-Family Homes and 5 Townhomes were pending. Inventory at the end of June 2022 is 177 Single-Family Homes and 3 Townhome listing are available.
The Median Sales Price for Single-Family Homes is $279,950 in the Lexington Market Report in the 2nd QTR 2022. This is an increase of +27.7% from the 2nd QTR 2021, when the Median Sales Price was $219,290.
New Listings in Lexington
Homes for Sale & Months Supply
Lexington Zip Code Inventory
Months Supply by Lexington Zip Code
About Ashfield
Ashfield is a new subdivision in Davidson County, NC by D.R. Horton. Construction began in 2022. Most of the homes are 2 story offering 3 or 4 bedrooms. Lot size is 1/2 acre or larger. Living space ranges from 1,900 sq. ft. up to 2,800 sq. ft. Homes offer 2 car garages spaces.
Schools serving the community are Davis Townsend Elementary, Central Davidson Middle School, and Central Davidson High School. There is no Homeowner’s Association. Home Prices are in the mid 300K range depending on the model.
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Closed Homes
Lexington Market Report – 2nd QTR 2022
A total of 338 Single-Family Properties closed during the 2nd QTR in 2022. This is an increase of +13.8% from 2021 when there were 297 closings. To understand how fast this market is moving, 80% of the closed homes in the 2nd QTR of 2022 were under contract within the first 30 days on the market.
A total of 4 Townhomes closed during the 2nd QTR in 2022. This is an increase of 100.0% from 2021 when there were 2 closings.
Analysis of the absorption rate indicates an inventory of 1.6 month for Single-Family Homes and 1.2 months supply for Townhome Listings.
Buyers might be interested in reading the following post on multiple offers.
Multiple Offer Strategies
Closed Sales & Pending Homes
Lexington Market Report – 2nd QTR 2022
Closed Sales in zip codes 27292 and 27295
Lexington Market Report – 2nd QTR 2022
Pending Homes in zip codes 27292 and 27295
Townhome Market in Lexington
The Median Sales Price for a Townhome at the end of June 2022 is $274,750. This is an increase of +49.4% from the 2nd QTR in 2021 when the Median Sales Price for a Townhome was $183,900.
The Average Sales Price for a Townhome is $254,785. This is an increase of +38.5% from the 2nd QTR in 2021 when the Average Sales Price for a Townhome was $183,900.
Summary Lexington Market
Summary for Lexington, North Carolina
Lexington, NC Stats
New listings increased +28.3% in the 2nd QTR 2022 in Lexington, NC from the previous year. Pending Sales were up by +1.7%. Closed Sales increased by +13.8% from the same time frame in 2021. Prices are still rising because of the severe inventory shortage.
The Median Sales Price for a Single-Family Home is $279,950 which is an increase of +27.7% from the 2nd QTR in 2021. The Average Sales Price for a Single-Family Home is $297,808 at the end of the 2nd QTR 2022. This was a +20.9% increase from the 2nd QTR in 2021.
Sellers are receiving 100.9% of their list price. Inventory levels of Homes for Sales increased by +110.7% from 2021 levels. At the end of the 2nd QTR 2022, 177 single-family homes were available. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
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