Cornelius Real Estate Market Update May 2024

Cornelius Real Estate Market Update

Cornelius, North Carolina, continues to be a vibrant and desirable market, especially as we dive into summer 2024. The latest statistics reveal significant trends that both buyers and sellers should note.

Key Metrics for Cornelius Real Estate for May 2024:

New Listings in Cornelius: Increased by 28.3% (77 new listings compared to 60 in May 2023).
Closed Sales in Cornelius: Up by 27.7%, with 60 homes sold compared to 47 last year.
Median Sales Price in Cornelius: Rose by 16.5%, now at $655,000, up from $562,150.
Average Sales Price in Cornelius: Slightly increased by 1.6% to $929,386.
Percent of Original List Price Received in Cornelius: Improved to 97.3%, reflecting a competitive market.
Days on Market in Cornelius: Decreased by 4.8% to an average of 40 days.
Cumulative Days on Market Until Sale in Cornelius: Dropped significantly by 20.8% to 38 days.
Average List Price in Cornelius: Decreased by 15% to $866,369.
Inventory of Homes for Sale in Cornelius: Surged by 54.7%, indicating more options for buyers.
Months Supply of Inventory in Cornelius: Increased by 76.9% to 2.3 months, suggesting a more balanced market.

Year-to-Date Trends for Cornelius Real Estate:

Median Sales Price in Cornelius: Increased by 10.1% to $544,950.
Average Sales Price in Cornelius: Up by 4.6% to $780,293.
Days on Market in Cornelius: Increased by 17.1% to 48 days
Average List Price in Cornelius: Up by 3.8% to $984,963.

Market Insights for Cornelius Real Estate

The increase in new listings and inventory levels in Cornelius, NC is a positive sign for buyers, providing more options and potentially easing the intense competition of recent years. However, the rising median sales prices reflect the ongoing demand and the value placed on Cornelius's quality of life and amenities.

Expert Guidance

Navigating this dynamic market requires local expertise. For personalized assistance in buying or selling your home in Cornelius for 1% Commission, contact One Charlotte Realty at 704-670-0000.

Their experienced team can help you make informed decisions and achieve your real estate goals in this vibrant market.

Stay informed and make the most of the Cornelius real estate market with the latest insights and professional support from One Charlotte Realty.