Here is the Real Estate Market Report for Davidson County in North Carolina showing statistics at the end of the 1st QTR 2024. 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.
- Single-Family Homes Market Report - 1st QTR 2024
- New Listings in Davidson County
- 1st QTR 2024 Inventory of Homes and Days on Market
- Market Report - 1st QTR 2024 for Closed Sales
- Pending Sales & Months Supply of Homes
- Browse New Construction under 350K
- Chart showing 10 year increases of Median Home Prices and Average Home Prices
- Number of New Listings & Closed Sales - 10 Years
- Market Report - 1st QTR 2024 for Townhomes
- Shop Friedberg Village
- Tips in a Sellers Market
- Earlier Market Reports
- Market Report - 1st QTR 2024 Summary
- Davidson County NC Map
- Request for More Information
Single-Family Homes Market Report – 1st QTR 2024
Statistics for Single Family Homes
At the end of the 1st QTR 2024, there are 557 Single-Family Homes pending. This is a decrease of -4.5% from the 1st QTR in 2023, when there were 583 listings pending.
During the 1st QTR 2024, 681 Single-Family Home listings came on the market. This was an increase of +1.8% from the 1st QTR in 2023, when there were 669 new listings.
At the end of the 1st QTR 2024, the number of Single-Family Homes for Sale is 387 properties. This is an increase of +6.9% from the 1st QTR in 2023, when there were 362 homes available for sale.
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New Listings in Davidson County
1st QTR 2024 Inventory of Homes and Days on Market
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. Figures are through March 2024.
Single Family Homes
This chart displays Days on Market for a 3 year period in Davidson County for the cities of Lexington, Thomasville, and Denton. Figures are through March 2024.
Market Report – 1st QTR 2024 for Closed Sales
During the 1st QTR 2024, 499 Single-Family homes closed, which is a decrease of -1.2% from the same time period in 2023. Sellers are receiving 98.3% of their list price.
The Median Sales Price for Single-Family homes in the 1st QTR 2024 is $280,000. This is an increase of +12% from the 1st Quarter of 2023, when the Median Sales Price was $250,000.
The Average Price for Single-Family homes in the 1st QTR 2024 is $306,231. This is an increase of +11.8% from the 1st QTR 2023 when the Average Sales Price for Single-Family Homes was $273,942.
Of the single-family homes closed, 54% were under contract within the first 30 days on the market. The most active price range were homes priced from $200,000 up to $299,999, which made up 40% of the homes closed. The second highest price range were homes priced from $300,000 up to $399,999, which made up 25% of the home closings in the 1st QTR 2024.
Analysis of the absorption rates indicates an inventory of 2.1 months for Single-Family homes. Most properties are going under contract within 51 days.
Pending Sales & Months Supply of Homes
Browse New Construction under 350K
Chart showing 10 year increases of Median Home Prices and Average Home Prices
Below is a chart showing Median Sales Price and Average Sales Price for residential properties in Davidson County by year from January 2014 through March 2024.
| Primary Year | Sale Price, Median | Sale Price, Average |
|---|---|---|
| 2014 | $127,000 | $155,435 |
| 2015 | $135,000 | $163,588 |
| 2016 | $141,770 | $169,495 |
| 2017 | $149,000 | $176,084 |
| 2018 | $157,500 | $187,970 |
| 2019 | $169,000 | $198,778 |
| 2020 | $190,000 | $218,442 |
| 2021 | $215,000 | $246,232 |
| 2022 | $250,000 | $281,573 |
| 2023 | $260,500 | $292,778 |
| 2024 | $265,000 | $292,574 |
Time frame is from Jan 2014 to Mar 2024
Number of New Listings & Closed Sales – 10 Years
Below is a chart showing Number of New Listings and Number of Closed Sales for residential properties in Davidson County by year from January 2014 through March 2024.
| Primary Year | Number of New Listings | Sales, Number of |
|---|---|---|
| 2014 | 17,983 | 17,092 |
| 2015 | 19,348 | 18,936 |
| 2016 | 20,663 | 21,187 |
| 2017 | 23,131 | 23,325 |
| 2018 | 23,488 | 23,865 |
| 2019 | 25,072 | 24,848 |
| 2020 | 27,051 | 27,356 |
| 2021 | 30,580 | 31,281 |
| 2022 | 27,230 | 27,762 |
| 2023 | 24,686 | 23,577 |
| 2024 | 7,130 | 5,177 |
Time frame is from Jan 2014 to Mar 2024
Market Report – 1st QTR 2024 for Townhomes
Townhome Statistics
At the end of the 1st QTR 2024, there are 52 Townhome Listings pending. This is a increase of +73.3% from the 1st QTR 2023, when there were 30 Townhome Listings pending.
During the 1st QTR 2024, 71 Townhome Listings came on the market. This was a increase of +54.3% from the 1st QTR 2023, when there were 46 new listings on the market.
At the end of the 1st QTR 2023, there are 37 Townhomes for sale, which is an increase of +27.6% from the 1st QTR in 2023 when there were 29 townhomes for sale.
During the 1st QTR 2024, 44 Townhome Listings closed, which is an increase of +37.5% from the 1st QTR in 2023 when 32 townhomes closed. Sellers are receiving 96.1% of their list price.
Median Sales Price for Townhomes in the 1st QTR 2024 is $270,280, which is a decrease of -11.4% from the 1st QTR 2023, when the Median Sales Price was $305,000. The Average Sales Price for Townhomes in the 1st QTR 2024 is $273,440, which is a decrease of +10.9% from the 1st QTR 2023, when the Average Sales Price for a Townhome was $306,747.
Analysis of the absorption rates indicates an inventory supply of 3.1 months for Townhome Listings. Most properties are going under contract within 47 days.
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Tips in a Sellers Market
For Buyers
- Talk to a local lender and get pre-approved so that you know what price range you can afford.
- Inventory levels will remain tight in 2024.
- 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.
- Continue to save and pay off existing debt.
You might also enjoy reading my post on Multiple Offers:
Strategies for Multiple Offers
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.
Earlier Market Reports
Market Report – 1st QTR 2024 Summary
Davidson County NC Stats
New Single Family Home Listings increased by +1.8% and Townhome Listings increased by +54.3% from the 1st QTR 2023. Pending Sales decreased by -4.5% for Single Family Homes and Pending Sales increased 73.3% for Townhome Listings. Closed Sales for Single Family Homes decreased by -1.2%. There was an increase of +37.5% for closed Townhome properties.
The Median Sales Price for a Single-Family Home was $280,000. This was an increase of +12% from the 1st QTR 2023. The Average Sales Price for a Single-Family Home was $306,231 at the end of the 1st QTR 2024. This was an increase of 11.8% from the 1st QTR 2023.
The Median Sales Price for a Townhome was $270,280. This was a decrease of -11.4% from the 1st QTR 2023. The Average Sales Price for a Townhome was $273,440. This was a decrease of -10.9% from the 1st QTR 2023.
Sellers are receiving 98.3% of their List Price for Single Family Homes and 96.1% for Townhome properties. Inventory levels of Homes for Sale increased by +6.9% from 2023 levels for Single-Family Homes and increased by +27.6% for townhome listings. At the end of the 4th QTR 2024, 387 Single Family Homes were available for sale and 37 Townhomes. Homebuyers will continue to be challenged by the low inventory levels.
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