Review this Real Estate Market Report showing statistics in the 1st QTR 2021 in Davidson County, North Carolina. If you need assistance in buying or selling a home in Davidson County, including the North Davidson Area and Lakefront Homes on High Rock Lake, contact Megan Clement with Keller Williams Realty at 336-239-7501.
- Market Report - 1st QTR 2021 for Davidson County
- Market Report - 1st QTR 2021 stats for Single-Family Homes
- New Listings in Lexington under 250K
- Closed Sales Market Report - 1st QTR 2021
- Closed Sales & DOM by Price Range for SFHomes
- Are Home Prices Increasing in Davidson County?
- Spotlight on New Construction from 300K to 400K
- Market Report -1st QTR 2021 for Townhomes
- Townhome Listings in Davidson County
- Tips in a Sellers Market
- Summary for Davidson County
- Request for More Information
Market Report – 1st QTR 2021 for Davidson County
Single Family Homes Statistics
At the end of the 1st QTR 2021, there are 530 Single-Family Homes pending. This is a slight decrease of -0.4% from the 1st QTR in 2020, when there were 532 listings pending.
During the 1st QTR 2021, 571 Single-Family Home listings came on the market. This was a decrease of -7.6% from the 1st QTR in 2020, when there were 618 new listings.
At the end of the 1st QTR 2021, the number of Single-Family Homes for Sale is 208 properties. This is a decrease of -51.1% from the 1st QTR in 2020, when there were 425 homes available for sale.
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Market Report – 1st QTR 2021 stats for Single-Family Homes
The chart shows stats on the Inventory of Homes for a 3 year period in Davidson County for the cities of Lexington, Thomasville, and Denton.
This chart displays Days on Market for a 3 year period in Davidson County for the cities of Lexington, Thomasville, and Denton.
New Listings in Lexington under 250K
Closed Sales Market Report – 1st QTR 2021
During the 1st QTR 2021, 498 Single-Family homes closed, which is an increase of 10.7% from the same time period in 2020. Sellers are receiving 99.2% of their list price.
The Median Sales Price for Single-Family homes in the 1st QTR 2021 is $200,000, which is a 17.6% increase from the 1st QTR in 2020 when the Median Sales Price for Single-Family homes was $ 170,000.
Of the single-family homes closed, 73% were under contract the first 30 days on the market.
Analysis of the absorption rates indicates an inventory of 1.1 months for Single-Family homes. Most properties are going under contract within 30 days.
Closed Sales & DOM by Price Range for SFHomes
Are Home Prices Increasing in Davidson County?
Below is a chart showing Median Sales Price and Average Sales Price for single-family Homes in Davidson County by year from 2017 through February 2021.
| Primary Year | Sale Price, Median | Sale Price, Average |
|---|---|---|
| 2017 | $155,000 | $183,378 |
| 2018 | $163,000 | $191,343 |
| 2019 | $169,900 | $200,752 |
| 2020 | $197,185 | $227,045 |
| 2021 | $200,000 | $236,591 |
Time frame is from Jan 2017 to Feb 2021
Spotlight on New Construction from 300K to 400K
Market Report -1st QTR 2021 for Townhomes
Townhome Statistics
At the end of the 1st QTR 2021, there are 37 Townhome Listings pending. This is a decrease of -17.8% from the 1st QTR in 2020 when there were 45 townhomes pending.
During the 1st QTR 2021, 30 New Townhome Listings came on the market. This is a decrease of -45.5% of new townhome listings from the 1st QTR in 2020.
At the end of the 1st QTR 2021, there are only 10 Townhomes for sale, which is a decrease of -63% from the 1st QTR in 2020 when there were 27 townhomes for sale.
During the 1st QTR 2020, 37 Townhome Listings closed, which is an increase of +60.9% from the 1st QTR in 2020 when 23 townhomes closed. Sellers are receiving 100.4% of their list price.
Median Sales Price for Townhomes in the 1st QTR 2021 is $195,000, which is same price as in the 1st QTR 2020.
Analysis of the absorption rates indicates an inventory supply of 0.7 months for Townhome Listings. Most properties are going under contract within 21 days.
Townhome Listings in Davidson County
Tips in a Sellers Market
For Buyers
- Talk to a local lender and get preapproved so that you know your true purchasing power.
- It is a great time to buy because the financial costs of buying a home are advantageous because of the low-interest rates.
- Inventory levels in all price ranges will remain tight in 2021 and into 2022.
- Homebuyers will need to make their offers stand out.
- Be available to view a new listing as soon as it comes on the market.
- Limit the number of contingencies in your Offer to Purchase.
For Sellers
- With low inventory, there is less competition among listings for buyer’s attention.
- Talk to your listing agent in advance on how to handle multiple offers.
- If financially possible, buy your next property before you list your present home.
Summary for Davidson County
Davidson County NC Stats
New listings decrease by -7.6% in the 1st QTR 2021 in Davidson County from the previous year. Pending Sales decreased slightly by -0.4%. Closed Sales increased by 10.7%. Prices are still rising because of the severe inventory shortage.
The Median Sales Price for Single-Family Home was $200,000. This is an increase of 17.6% from the 1st QTR in 2020. The Average Sales Price was $232,131 at the end of the 1st QTR 2021. This was a 17.5% increase for the 1st QTR in 2020.
Sellers are receiving 99.2% of their List Price. Inventory levels of Homes for Sale decreased by 51.1% from 2020 levels. At the end of the 1st QTR 2021, 208 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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