Enjoy this Lexington Market Report for the 3rd QTR 2023. Statistics include Median and Average Sales Price, Inventory Levels, Days on Market, and Months Supply. If you need assistance in buying or selling a home in Lexington, North Carolina contact Megan Clement with Keller Williams Realty at 336-239-7501.

White house on left with sun shining down on green grass wording Lexington Market Report 3rd QTR 2023

Lexington Market Report – 3rd QTR 2023

 

Home with gray siding and 2 car garage with green front yardIn the Lexington Market Report for the 3rd QTR 2023, the Average Sales Price for a Single-Family Home is $307,062.  This is an increase of +6.8% from the 3rd QTR 2022.  For Townhome Listings, the Average Sales Price is $256,250. This is a decrease of -5.5% from the 3rd QTR 2022.

The Median Sales Price for Single-Family Homes is $291,000 in the  Lexington Market Report in the 3rd QTR 2023.  This is an increase of +3.7% from the 3rd QTR 2022.  For Townhome Listings, the Median Sales Price is $256,250.  This is a decrease of -1.4% from the 3rd QTR 2022, when the Median Sales Price was $260,000.

At the end of the 3rd QTR 2023, there are 279 Single-Family Homes and 3 Townhomes were pending.  Inventory at the end of September 2023, 233 Single-Family Homes and 6 Townhome listing are available for sale.

Sellers are receiving 99.3% of their list price for Single-Family Homes and 95.9% of their list price for Townhome Listings.

 

New Listings in Lexington


Homes for Sale & Months Supply

Lexington Inventory by Zip Code

Months Supply by Lexington Zip Code

New Construction under 325K in Zip Code 27295


Closed Homes

Lexington Market Report – 3rd QTR 2023

 

A total of 329 Single-Family Properties closed during the 3rd QTR in 2023.  This is a decrease of -16.7% from 2022 when there were 395 closings.  To understand how fast this market is moving, 63% of the closed homes in the 3rd QTR of 2023 were under contract within the first 30 days on the market.

The most active price range were homes in the $200,000 to $299,999 range, which made up 36% of the closed properties.

Analysis of the absorption rate indicates an inventory of 2.4 months for Single-Family Homes and a 3.2 months supply for Townhome listings the end of the 3rd QTR 2023.

 

Buyers might be interested in reading the following post on multiple offers.

 

Multiple Offer Strategies

New Construction under 325K in Zip Code 27292


Closed Sales & Pending Homes

Lexington Market Report – 3rd QTR 2023

Closed Sales in zip codes 27292 and 27295

Lexington Market Report – 3rd QTR 2023

Pending Homes in zip codes 27292 and 27295

Median Sales Price & Average Sales Price – 10 Year Period

Primary Year Sale Price, Median Sale Price, Average
2013 $96,000 $112,621
2014 $110,000 $124,096
2015 $120,000 $135,498
2016 $125,000 $145,512
2017 $135,495 $151,646
2018 $139,000 $156,208
2019 $147,000 $166,647
2020 $170,000 $191,129
2021 $205,000 $219,154
2022 $252,000 $263,250
2023 $260,000 $257,542

Time frame is from Jan 2013 to Sep 2023

Status is one of ‘Active’, ‘Due Diligence Period’, ‘Pending AB’, ‘Pending’, ‘Closed’
City is ‘Lexington’
Results calculated from approximately 11,000 listings

About Grace Lee Meadows

Grace Lee Meadows is located off of NC Hwy 8 in the Central Davidson Area.  Construction in the community began in 2022 and the builder is D.R. Horton.  Homes feature 1 and 2 stories with 3 or 4 bedrooms.  Total living space ranges from 1,300 sq. ft. up to 2,300 sq. ft.  One or Two garage spaces are available.  Lot size is approximately .46 acres with some parcels larger.

There is a Homeowners Association.  Presently, the HOA dues are $28.00 paid monthly.  List prices are in the high $200K to low $300K  range.  The community is served by Davidson County Schools.  The Elementary school is Southwood, Middle School is Central Davidson Middle and Senior High is Central Davidson High School.

Shop Grace Lee Meadows


Townhome Market in Lexington

 

Townhome-subdivision-with-attached-garagesThe Median Sales Price for a Townhome at the end of June 2023 is $256,250.  This is a decrease of -1.4% from the 3rd QTR in 2022 when the Median Sales Price for a Townhome was $ 260,000.

The Average Sales Price for a Townhome is $256,250.  This is a decrease of -5.5% from the 3rd QTR in 2022 when the Average Sales Price for a Townhome was $271,190.

A total of 2 Townhomes closed during the 3rd QTR in 2023.  This is a decrease of -60% from 2022 when there were 5 closings.

Sellers are receiving 95.9% of their list price for Townhome properties.

Earlier Market Reports for Lexington, NC

Summary Lexington Market

Summary for Lexington, North Carolina

Lexington, NC Stats

New listings decreased by -6.7% in the 3rd QTR 2023 in Lexington, NC from the previous year.  Pending Sales decreased by -12.3%.  Closed Sales decreased by -16.7% from the same time frame in 2022.

The Median Sales Price for a Single-Family Home is $291,000.  This is an increase of +3.7% from the 3rd QTR in 2022 when the Median Sales Price was also $280,740.  The Average Sales Price for a Single-Family is $307,062 at the end of the 3rd QTR 2023.  This was an increase of +6.8% from the 3rd QTR in 2022.

Sellers are receiving 99.3% of their list price.  Inventory levels for Single Family Homes for Sales increased by +9.9% from 2022 levels.  At the end of the 3rd QTR 2023, 233 single-family homes were available in Lexington.  Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.

Map of Lexington in Davidson County


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Piedmont Triad Real Estate Services
Megan Clement is a real estate broker with Keller Williams Realty. She specializes in Davidson and Forsyth County properties which include the cities of Lexington, Thomasville, Denton, Clemmons, High Point, Kernersville, and Winston Salem. Megan has 20 years of experience working with both buyers and sellers. Call or text 336-239-7501 or use the contact form.
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Lexington Real Estate Report - 3rd QTR 2023
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Lexington Real Estate Report - 3rd QTR 2023
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Review statistics on the Lexington Real Estate Market 3rd QTR in 2023. See active inventory, average sales price, days on market for Single-Family Homes, and Townhomes.
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DavidsonCountyHomefinder.com
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