Enjoy this Lexington Market Report for the 2nd QTR 2023. 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 2023
- New Listings in Lexington
- Homes for Sale & Months Supply
- New Construction under 325K in Zip Code 27295
- Closed Homes
- New Construction under 325K in Zip Code 27292
- 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 – 2nd QTR 2023
In the Lexington Market Report for the 2nd QTR 2023, the Average Sales Price for a Single-Family Home is $277,740. This is a decrease of -6.6% from the 2nd QTR 2022. For Townhome Listings, the Average Sales Price is $273,000. This is an increase of +7.1% from the 2nd QTR 2022.
The Median Sales Price for Single-Family Homes is $272,990 in the Lexington Market Report in the 2nd QTR 2023. This is a decrease of -2.5% 2nd QTR 2022. For Townhome Listings, the Median Sales Price is $265,000. This is a decrease of -3.5% from the 2nd QTR 2022, when the Median Sales Price was $274,750.
At the end of the 2nd QTR 2023, there are 338 Single-Family Homes and 6 Townhomes were pending. Inventory at the end of June 2023, 220 Single-Family Homes and 4 Townhome listing are available for sale.
Sellers are receiving 99.9% of their list price for Single-Family Homes and 98% 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 – 2nd QTR 2023
A total of 292 Single-Family Properties closed during the 2nd QTR in 2023. This is a decrease of -13.9% from 2022 when there were 339 closings. To understand how fast this market is moving, 65% of the closed homes in the 2nd QTR of 2023 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 42% of the closed properties.
Analysis of the absorption rate indicates an inventory of 2.2 months for Single-Family Homes and a 2.2 months supply for Townhome listings the end of the 2nd QTR 2023.
Buyers might be interested in reading the following post on multiple offers.
Multiple Offer Strategies
New Construction under 325K in Zip Code 27292
Closed Sales & Pending Homes
Lexington Market Report – 2nd QTR 2023
Closed Sales in zip codes 27292 and 27295
Lexington Market Report – 2nd QTR 2023
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 |
|---|---|---|
| 2013 | $96,000 | $112,621 |
| 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 | $255,745 | $253,700 |
Time frame is from Jan 2013 to Aug 2023
About Grace Lee Meadows
Grace Lee Meadows is located off of NC Hwy 8 in the Central Davidson Area. Construction in the community began 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 1,300 sq. ft. up to 2,300 sq. ft. One or Two garage spaces are available. Lot size is approximately .46 acres with some parcels larger.
There is a Homeowners Association. Presently, the HOA dues are $28.00 paid monthly. List prices are in the high $200K to low $300K range. The community is served by Davidson County Schools. The Elementary school is Southwood, Middle School is Central Davidson Middle and Senior High is Central Davidson High School.
Shop Grace Lee Meadows
Townhome Market in Lexington
The Median Sales Price for a Townhome at the end of June 2023 is $265,000. This is a decrease of -3.5% from the 2nd QTR in 2022 when the Median Sales Price for a Townhome was $ 274,750.
The Average Sales Price for a Townhome is $273,000. This is an increase of +7.1% from the 2nd QTR in 2022 when the Average Sales Price for a Townhome was $254,785.
A total of 7 Townhomes closed during the 2nd QTR in 2023. This is an increase of +75% from 2022 when there were 4 closings.
Sellers are receiving 98% 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 decreased by -16.6% in the 2nd QTR 2023 in Lexington, NC from the previous year. Pending Sales decreased by -8.6%. Closed Sales decreased by -13.9% from the same time frame in 2022.
The Median Sales Price for a Single-Family Home is $272,990. This is a decrease of -2.5% from the 2nd QTR in 2022 when the Median Sales Price was also $279,900. The Average Sales Price for a Single-Family is $277,740 at the end of the 2nd QTR 2023. This was a decrease of -6.6% from the 2nd QTR in 2022.
Sellers are receiving 99.9% of their list price. Inventory levels for Single Family Homes for Sales increased by +22.2% from 2022 levels. At the end of the 2nd QTR 2023, 220 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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