Enjoy this Lexington Market Report for the 3rd QTR 2021. 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 2021
At the end of the 3rd QTR 2021, there are 321 Single-Family Homes and 4 Townhomes pending in the Lexington Real Estate Market. Inventory at the end of September is 148 Single-Family Homes and no Townhome listing are available
The Median Sales Price for Single-Family Homes is $235,000 in the Lexington Market Report in the 3rd QTR 2021. This is an increase of +16.1% from 2020 when the Median Sales Price was $202,450.
The Average Sales Price for Single-Family Homes in Lexington is $247,411. This is an increase of +14.4% from the 3rd QTR 2020 when the Average Sales Price was $216,335.
New Listings in Lexington
Homes for Sale & Months Supply
Home for Sale for Lexington, NC
Months Inventory
Closed Homes
Lexington Market Report – 3rd QTR 2021
A total of 341 Single-Family Properties closed during the 3rd QTR in 2021. This is an increase of +20.5% from 2020 when there were 283 closings. To understand how fast this market is moving, 89% of the closed homes in the 3rd QTR of 2021 were under contract within the first 30 days on the market.
A total of 3 Townhomes closed during the 3rd QTR in 2021. This is a decrease of -57.1% from 2020 when there were 7 closings.
Analysis of the absorption rate indicates an inventory of 1.5 months for Single-Family Homes and no inventory for Townhome Listings.
Buyers might be interested in reading the following post on multiple offers.
Multiple Offer Strategies
New Construction in Bryson Park
Bryson Park is a new subdivision in Lexington zip code 27295 in the northern park of Davidson County. The builder is D.R. Horton. Building started in 2021. Homes styles are 1 or 2 stories offering 3, 4, or 5 bedrooms. All the homes have two car garage spaces.
Living space ranges from 1,500 sq. ft. up to 3,300 sq. ft. for the larger properties. The typical lot size is around .17 acres.
There is a HOA Association. Presently the monthly dues are $45 a month. A community pool and club house are planned. The schools are Friedberg Elementary, Oak Grove Middle and Oak Grove High School. Prices are in the 300K range depending on house size and features.
Shop Bryson Park
DOM & Homes for Sale by Price Range
Lexington Market Report – 3rd QTR 2021
Closed Sales in zip codes 27292 and 27295
Lexington Market Report – 3rd QTR 2021
Pending Homes in zip codes 27292 and 27295
Townhome Market in Lexington
The Median Sales Price for a Townhome is $287,500. This is an increase of +80.8% from the 3rd QTR in 2020 when the Median Sales Price for a Townhome was $159,000.
The Average Sales Price for a Townhome is $260,167. This is an increase of +38.2% from the 3rd QTR in 2020 when the Average Sales Price for a Townhome was $188,284.
Summary Lexington Market
Summary for Lexington, North Carolina
Lexington, NC Stats
New listings increased +37% in the 3rd QTR 2021 in Lexington, NC from the previous year. Pending Sales were up +15.9%. Closed Sales increased by +20.5% from the same time frame in 2020. Prices are still rising because of the severe inventory shortage.
The Median Sales Price for a Single-Family Home was $235,000, which is an increase of +16.1% from the 3rd QTR in 2020. The Average Sales Price was $247,411 at the end of the 3rd QTR 2021. This was a +14.4% increase from the 3rd QTR in 2020.
Sellers are receiving 100.8% of their list price. Inventory levels of Homes for Sales increased by +16.5% from 2020 levels. At the end of the 3rd QTR 2021, 148 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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