Enjoy this Lexington Market Report for April 2020. Statistics include Median and Average Sales Prices, 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
- Has Covid-19 affected the Lexington Housing Market?
- Market Report for Lexington
- Median & Average Sales Price Comparison
- Shop Lexington Homes under 200K
- Inventory & Pending Sales by Price Point
- Lexington Closings and Inventory
- Lexington New Construction under 225K
- DOM by Price Range & Average Sales Price by Price Range
- Browse Lexington New Construction under 400K
- Map of Lexington in Davidson County
- Request More Information
Has Covid-19 affected the Lexington Housing Market?
North Carolina was lucky that real estate was considered an essential business when the stay-at-home-orders were issued by Governor Cooper at the end of March. This allowed real estate activities to continue during the shutdown. On May 8, 2020, North Carolina went into Phase 1 of re-opening the state. Hopefully, the state will be able to go into Phase II as planned.
One statistic we use to measure seller activity is the number of homes that are listed each month. Many sellers typically wait until the weather turns warm before placing their home on the market.
Let’s compare how many sellers listed their property in April 2020 to April 2019. The number of new listings in April 2020 is 67 homes. In 2019, there were 80 new listings. This drop suggests that sellers are waiting to see what happens with buyer activity and home prices before placing their home on the market.
Closings continued in April 2020; there were 84 closings of Single-Family Homes. Compared to April 2019, 71 homes closed, so in April new listings were down and closings were up.
New Listings and Closings per Month
| Month | Number of New Listings | Sales, Number of |
|---|---|---|
| Jan 2019 | 64 | 57 |
| Feb 2019 | 76 | 49 |
| Mar 2019 | 79 | 68 |
| Apr 2019 | 80 | 71 |
| May 2019 | 89 | 93 |
| Jun 2019 | 90 | 79 |
| Jul 2019 | 94 | 90 |
| Aug 2019 | 88 | 97 |
| Sep 2019 | 77 | 78 |
| Oct 2019 | 73 | 85 |
| Nov 2019 | 76 | 80 |
| Dec 2019 | 46 | 71 |
| Jan 2020 | 100 | 78 |
| Feb 2020 | 61 | 60 |
| Mar 2020 | 89 | 74 |
| Apr 2020 | 67 | 84 |
Time frame is from Jan 2019 to Apr 2020
Market Report for Lexington
In the month of April 2020, 58 Single-Family Homes went under contract in the Lexington Real Estate Market. Inventory at the end of April is 159 Single-Family Homes and 3 Townhomes available for sale.
The Median Sales Price for Single-Family Homes is $192,500. This is an increase of 22.2% from 2019 when the Median Sales Price was $157,490. The Median Sales Price for a Townhome is $232,365. This is an increase of 24.3% from 2019.
The Average Sales Price for Single-Family Homes in Lexington is $ 207,713. This is an increase of 14.7% from April 2019. The Average Sales Price for a Townhome is $ 209,101. This is up 11.9% from April in 2019 when the Average Sales Price for a Townhome was $ 186.935.
You might also like to read:
Davidson County Market Watch Report – 1st QTR 2020
Davidson County Market Watch Report – 4th QTR 2019
Median & Average Sales Price Comparison
| Month | Sale Price, Median | Sale Price, Average |
|---|---|---|
| Jan 2019 | $147,000 | $174,416 |
| Feb 2019 | $141,000 | $166,292 |
| Mar 2019 | $143,825 | $153,611 |
| Apr 2019 | $160,000 | $189,545 |
| May 2019 | $151,500 | $168,690 |
| Jun 2019 | $147,600 | $179,116 |
| Jul 2019 | $156,250 | $193,167 |
| Aug 2019 | $160,750 | $202,717 |
| Sep 2019 | $163,075 | $203,971 |
| Oct 2019 | $156,000 | $172,535 |
| Nov 2019 | $172,000 | $189,688 |
| Dec 2019 | $159,888 | $194,728 |
| Jan 2020 | $170,000 | $202,100 |
| Feb 2020 | $182,400 | $202,529 |
| Mar 2020 | $177,500 | $205,365 |
| Apr 2020 | $198,450 | $217,404 |
Time frame is from Jan 2019 to Apr 2020
Shop Lexington Homes under 200K
Inventory & Pending Sales by Price Point
Lexington Closings and Inventory
A total of 79 Single-Family Properties closed during the month of April 2020. This is an increase of 14.5% from 2019 when there were 69 closings.
A total of 6 Townhomes closed during the month of April 2020. This is an increase of 200% from 2019 when there were 2 closings.
Analysis of the absorption rate indicates an inventory of 2.1 months for Single-Family Homes and a .8 month supply of Townhomes in the Lexington Real Estate Market.
Lexington New Construction under 225K
DOM by Price Range & Average Sales Price by Price Range
Browse Lexington New Construction under 400K
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