Enjoy this Lexington Market Report for the 3rd QTR 2020. 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 - 3rd QTR 2020
- Shop Lexington Listings under 250K
- Inventory & Months Supply
- Lexington Market Report on Closings and Inventory
- New Listings & Closed Sales
- DOM & Inventory by Price Range
- Spotlight on Glenoaks
- Shop New Homes in Glenoaks
- Map of Lexington in Davidson County
- Request More Information
Lexington Market Report – 3rd QTR 2020
At the end of the 3rd QTR 2020, there are 260 Single-Family Homes and 18 Townhomes pending in the Lexington Real Estate Market. Inventory at the end of September is 134 Single-Family Homes and only 2 Townhomes available for sale.
The Median Sales Price for Single-Family Homes is $202,450 in the Lexington Market Report – 3rd QTR 2020. This is an increase of +30.6% from 2019 when the Median Sales Price was $155,000.
The Average Sales Price for Single-Family Homes in Lexington is $216,316. This is an increase of +11.9% from the 3rd QTR 2019.
The Median Sales Price for a Townhome is $156,500. This is a decrease of -27.2% from the 3rd QTR in 2019 when the Median Sales Price for a Townhome was $215,000.
The Average Sales Price for a Townhome is $175,917. This is a decrease of -16.5% from the 3rd QTR in 2019 when the Average Sales Price for a Townhome was $210,628.
You might also like to read:
Davidson County Market Watch Report – 1st QTR 2020
Davidson County Market Watch Report – 2nd QTR 2020
Shop Lexington Listings under 250K
Inventory & Months Supply
Home Inventory for Lexington, NC
Months Inventory
Lexington Market Report on Closings and Inventory
A total of 281 Single-Family Properties closed during the 3rd QTR in 2020. This is an increase of +11.1% from 2019 when there were 253 closings. To understand how fast this market is moving, 66% of the closed homes in the 3rd QTR of 2020 were under contract within the first 30 days on the market.
A total of 6 Townhomes closed during the 3rd QTR in 2020. This is a decrease of – 53.8% from 2019 when there were 13 closings.
Analysis of the absorption rate indicates an inventory of 1.7 months for Single-Family Homes and a 0.5 months supply of inventory for Townhomes in the Lexington Real Estate Market.
New Listings & Closed Sales
This chart shows the number of New Listings and Closed Sales from January 1, 2020, through September 30, 2020, for Single-Family Homes and Condo/Townhomes in Lexington, North Carolina. As you can see new listings and closings started to slow in March, April, and May but then picked up again in June through September.
| Month | Number of New Listings | Sales, Number of |
|---|---|---|
| Jan | 89 | 71 |
| Feb | 51 | 55 |
| Mar | 67 | 68 |
| Apr | 62 | 70 |
| May | 67 | 71 |
| Jun | 78 | 83 |
| Jul | 95 | 91 |
| Aug | 99 | 93 |
| Sep | 91 | 79 |
DOM & Inventory by Price Range
Days on Market by Price Range
Inventory by Price Range
Spotlight on Glenoaks
Glenoaks is a new subdivision located within the city limits of Lexington, NC in Davidson County off of W. 5th Avenue on Glenwood. Construction began in Glenoaks in 2006 through 2007 and started up again in 2020. The new homes are 2 stories with 3 bedrooms and 2.1 baths.
Total living space ranges from 1,000 sq. ft. up to 1,800 sq. ft. with an attached 1 car garage space. The typical lot size is around .19 acres. The builder is Wade Jurney Homes.
Shop New Homes in Glenoaks
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