Enjoy this Real Estate Market Report showing statistics in the 4th QTR 2020 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 - 4th QTR 2020 for Davidson County
- Market Report - 4th QTR 2020 stats for Single-Family Homes
- New Listings in Lexington under 250K
- Closed Sales Market Report - 4th QTR 2020
- 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 - 4th QTR 2020 for Townhomes
- Townhome Listings in Davidson County
- Tips in a Sellers Market
- Summary for Davidson County
- Request for More Information
Market Report – 4th QTR 2020 for Davidson County
Single Family Homes Statistics
At the end of the 4th QTR 2020, there are 485 Single-Family Homes pending. This is an increase of 14.9% from the 4th QTR in 2019 when there were 422 listings pending.
During the 4th QTR 2020, 537 Single-Family Home listings came on the market. This was an increase of 10% from the 4th QTR in 2019 when there were 488 new listings.
At the end of the 4th QTR 2020, the number of Single-Family Homes for Sale is 232 properties. This is a decrease of -49.1% from the 4th QTR in 2019 when there were 456 homes available for sale.
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Market Report – 4th QTR 2020 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 – 4th QTR 2020
During the 4th QTR 2020, 602 Single-Family homes closed, which is an increase of 25.7% from the same time period in 2019. Sellers are receiving 99.2% of their list price.
The Median Sales Price for Single-Family homes in the 4th QTR 2020 is $210,000 which is a 25% increase from the 4th QTR in 2019 when the Median Sales Price for Single-Family homes was $ 168,000.
Analysis of the absorption rates indicates an inventory of 1.2 months for Single-Family homes. Most properties are going under contract within 26 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 – 4th QTR 2020 for Townhomes
Townhome Statistics
At the end of the 4th QTR 2020, there are 34 Townhome Listings pending. This is a 3% increase from the 4th QTR in 2019 when there were 33 townhomes pending.
During the 4th QTR 2020, 38 New Townhome Listings came on the market. This was the same number of new listings from the 4th QTR in 2019.
At the end of the 4th QTR 2020, there are 19 Townhomes for sale, which is an increase of 5.6% from the 4th QTR in 2019 QTR when there were 18 townhomes for sale.
During the 4th QTR 2020, 59 Townhome Listings closed, which is an increase of 37.2% from the 4th QTR in 2019 when 43 townhomes closed. Sellers are receiving 98.3% of their list price.
Median Sales Price for Townhomes in the 4th QTR 2020 is $217,990, which is a decrease of -8.2%% from the same time period last year.
Analysis of the absorption rates indicates an inventory of 1.2 months for Townhome Listings. Most properties are going under contract within 27 days.
Townhome Listings in Davidson County
Tips in a Sellers Market
For Buyers
- If your financial situation and employment is secure, now may be the time to purchase a home.
- Throughout 2021 and into 2022, inventory levels will remain tight for homebuyers.
- In this multiple offer environment, buyers will need to make their offers stand out.
- Get preapproved first, that way you will know your purchasing power.
- Make yourself available to view a new listing as soon as it comes on the market.
- Write as clean an offer to the seller as possible by limiting the number of contingencies in your offer.
For Sellers
- With tight inventory levels, there is less competition among listings for buyers attention.
- Talk to your listing agent in advance on how you want to handle multiple offers.
- Consider purchasing your next property before you place your present home on the market.
Summary for Davidson County
Davidson County NC Stats
New listings increased slightly by 10% in the 4th QTR 2020 in Davidson County from the previous year. Pending Sales increased by 14.9%. Closed Sales increased by 25.7%. Prices are still rising because of the severe inventory shortage.
The Median Sales Price for Single-Family Home was $210,000. This is an increase of 25% from the 4th QTR in 2019. The Average Sales Price was $241,413 at the end of the 4th QTR 2020. This was a 23.5% increase for the 4th QTR in 2019.
Sellers are receiving 99.2% of their List Price. Inventory levels of Homes for Sale decreased by 49.1% from 2019 levels. At the end of the 4th QTR 2020, 232 homes were available. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
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