Market Report – 4th QTR 2021

Single Family Homes Statistics

At the end of the 4th QTR 2021, there are 636 Single-Family Homes pending.  This is an increase of +22.5% from the 4th QTR in 2020, when there were 519 listings pending.

During the 4th QTR 2021, 700 Single-Family Home listings came on the market.  This was an increase of +30.4% from the 4th QTR in 2020, when there were 537 new listings.

At the end of the 4th QTR 2021, the number of Single-Family Homes for Sale is 237 properties.  This is an increase of +2.6% from the 4th QTR in 2020, when there were 231 homes available for sale.

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.

During the 4th QTR 2021, 726 Single-Family homes closed, which is an increase of +17.5% from the same time period in 2020.  Sellers are receiving 99.9% of their list price.

The Median Sales Price for Single-Family homes in the 4th QTR 2021 is $245,000, which is a +18.9% increase from the 4th QTR in 2020 when the Median Sales Price for Single-Family homes was $206,000.

The Average Price for Single-Family homes in the 4th QTR 2021 is $270,231, which is a +13.2% increase from the 4th QTR 2020 when the Average Sales Price for Single-Family Homes was $238,754.

Of the single-family homes closed, 79% 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 37% of the homes closed.  The second highest price range were homes priced from $100,000 up to $199,999, which made up 22% of the home closings in the 3rd QTR 2021.

Analysis of the absorption rates indicates an inventory of 1.1 months for Single-Family homes.  Most properties are going under contract within 21 days.

Below is a chart showing Median Sales Price and Average Sales Price for single-family Homes in Davidson County by year from January 2018 through December 2021.

Townhome Statistics

At the end of the 4th QTR 2021, there are 36 Townhome Listings pending.  This was the same number pending in the 4th QTR 2020.

During the 4th QTR 2021, 43 New Townhome Listings came on the market.  This is an increase of +13.2% from the 4th QTR in 2020.

At the end of the 4th QTR  2021, there are 12 Townhomes for sale, which is a decrease of -33.3% from the 4th QTR in 2020 when there were 18 townhomes for sale.

During the 4th QTR 2021, 46 Townhome Listings closed, which is a decrease of -22.2% from the 4th QTR in 2020 when 59 townhomes closed.   Sellers are receiving 100.9% of their list price.

Median Sales Price for Townhomes in the 4th QTR 2021 is 206,000, which is a decrease if -5.5% from the 4th QTR 2020 when the Median Sales Price was $217,990.  The Average Sales Price for Townhomes in the 4th QTR 2021 is $222,322, which is an increase of +12% from the 4th QTR 2020 when the Average Sales Price for a Townhome was $198,530.

Analysis of the absorption rates indicates an inventory supply of 0.9 months for Townhome Listings.  Most properties are going under contract within 21 days.

For Buyers

• Talk to a local lender and get pre-approved 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 will remain tight in 2022 in all price ranges.
• 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.

You might also enjoy reading my post on 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.

You might also like to read earlier Market Reports.

Davidson County NC Stats

New Single Family Home Listings increased by 30.4% and Townhome Listings increased by +13.2% in the 4th QTR 2021 in Davidson County from the previous year.  Pending Sales increased  by +22.5% for Single Family Homes and there was no change in Townhome Listings.   Closed Sales for Single Family Homes increased by 17.5%.  There was a decrease of -22% for closings for Townhome properties.  Prices are still rising because of the severe inventory shortage.

The Median Sales Price for Single-Family Home was $245,000.  This is an increase of +18.9% from the 4th QTR in 2020.  The Average Sales Price for a Single-Family Home was $270,231 at the end of the 4th QTR 2021.  This was a +13.2% increase for the 4th QTR in 2020.

The Median Sales Price for a Townhome was $206,000.  This was a decrease of -5.5% from the 4th Qtr 2020 when it was $217,900.  The Average Sales Price for a Townhome was $222,322.  This was an increase of +12% from the 4th QTR 2020 when it was $198,530.

Sellers are receiving 99.9% of their List Price for Single Family Homes and 100.9% for Townhome properties.  Inventory levels of Homes for Sale increased slightly by +2.6% from 2020 levels for Single-Family Homes and decreased by 33.3% for townhome listings.  At the end of the 4th QTR 2021, 237 single family homes were available and 12 townhomes.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.