Lexington Market Report – 4th QTR 2021

At the end of the 4th QTR 2021, there are 331 Single-Family Homes and 4 Townhomes were pending in the Lexington Real Estate Market.  Inventory at the end of December 2021 is 141 Single-Family Homes and no Townhome listing are available.

The Median Sales Price for Single-Family Homes is $240,000 in the Lexington Market Report in the 4th QTR 2021.  This is an increase of +23.1% from 2020 when the Median Sales Price was $195,000.

The Average Sales Price for Single-Family Homes in Lexington is $265,864.  This is an increase of +13.8% from the 4th QTR 2020 when the Average Sales Price was $233,701.

Lexington Zip Code Inventory

Months Supply by Lexington Zip Code

Lexington Market Report – 4th QTR 2021

A total of 349 Single-Family Properties closed during the 4th QTR in 2021.  This is an increase of +49.8% from 2020 when there were 233 closings.  To understand how fast this market is moving, 77% of the closed homes in the 4th QTR of 2021 were under contract within the first 30 days on the market.

A total of 5 Townhomes closed during the 4th QTR in 2021.  This is a decrease of -68.8% from 2020 when there were 16 closings.

Analysis of the absorption rate indicates an inventory of 1.3 months for Single-Family Homes and no inventory for Townhome Listings.

Buyers might be interested in reading the following post on multiple offers.

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.

Boone’s Village is located in Lexington, NC in zip code 27295.  The Builder is D.R. Horton and construction began in 2021.  The typical lot size is .57 acres.  Homes are 2 stories featuring 3 or 4 bedrooms.  Most of the homes include 2 car garage spaces.

Davidson County schools serving the community are Churchland Elementary, Tyro Middle School, and West Davidson High School.

Total Living Space ranges from 1,900 sq. ft. up to 2,800 sq. ft.  There is a Homeowner’s Association.  Presently, the HOA dues are $62 a month.

Lexington Market Report – 4th QTR 2021

Closed Sales in zip codes 27292 and 27295

Lexington Market Report – 4th QTR 2021

Pending Homes in zip codes 27292 and 27295

The Median Sales Price for a Townhome at the end of December 2021 is $185.000.  This is an increase of +96.3% from the 4th QTR in 2020 when the Median Sales Price for a Townhome was $94,250.

The Average Sales Price for a Townhome is $208.500.  This is an increase of +57.5% from the 4th QTR in 2020 when the Average Sales Price for a Townhome was $132,366.

Summary for Lexington, North Carolina

Lexington, NC Stats

New listings increased +61.4% in the 4th QTR 2021 in Lexington, NC from the previous year.  Pending Sales were up +49.1%.  Closed Sales increased by +49.8% 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 is $249000, which is an increase of +23.1% from the 4th QTR in 2020.  The Average Sales Price for a Single-Family Home is $265,864 at the end of the 4th QTR 2021.  This was a +13.8% increase from the 4th QTR in 2020.

Sellers are receiving 99.2% of their list price.  Inventory levels of Homes for Sales increased by +30.6% from 2020 levels.  At the end of the 4th QTR 2021, 141 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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