Enjoy this Lexington Market Report for the 4th QTR 2022. 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.
- Lexington Market Report - 4th QTR 2022
- New Listings in Lexington
- Homes for Sale & Months Supply
- About Kyndal Run
- Shop Kyndal Run
- Closed Homes
- Closed Sales & Pending Homes
- Median Sales Price & Average Sales Price - 10 Year Period
- Townhome Market in Lexington
- Summary Lexington Market
- Earlier Market Reports for Lexington, NC
- Map of Lexington in Davidson County
- Request More Information
Lexington Market Report – 4th QTR 2022
In the Lexington Market for the 4th QTR 2022, the Average Sales Price for a Single-Family Home is $287,147. This is an increase of +8.3% from the 4th QTR 2021. For Townhome Listings, the Average Sales Price is $275,250. This is an increase of +32% from the 4th QTR 2021.
The Median Sales Price for Single-Family Homes is $270,000 in the Lexington Market Report in the 4th QTR 2022. This is an increase of +12.5% from the 4th QTR 2021, when the Median Sales Price was $240,000. For Townhome Listings, the Median Sales Price is $274,000. This is an increase of 48.1% from the 4th QTR 2021, when the Median Sales Price was $185,000.
At the end of the 4th QTR 2022, there are 230 Single-Family Homes and 7 Townhomes were pending. Inventory at the end of December 2022, there are 191 Single-Family Homes and no Townhome listing are available.
Sellers are receiving 98.7% of their list price for Single-Family Homes and 98.3% of their list price for Townhome Listings.
New Listings in Lexington
Homes for Sale & Months Supply
Lexington Zip Code Inventory
Months Supply by Lexington Zip Code
About Kyndal Run
Kyndal Run is a new subdivision in Davidson County, NC in zip code 27295 by Royal Homes of North Carolina. Construction began in 2022. The homes are 2 stories offering 4 bedrooms and two car garage spaces. Living space ranges from 1,800 sq. ft. up to 3,300 sq. ft.
Schools serving the community are Welcome Elementary School, North Davidson Middle School, and North Davidson High School. There is a Homeowner’s Association. The HOA dues are currently $50 a month. Home Prices are in the mid 300K to low 400K range depending on the model and interior features.
Shop Kyndal Run
Closed Homes
Lexington Market Report – 4th QTR 2022
A total of 293 Single-Family Properties closed during the 4th QTR in 2022. This is an decrease of -16.5% from 2021 when there were 351 closings. To understand how fast this market is moving, 80% of the closed homes in the 4th QTR of 2022 were under contract within the first 30 days on the market.
A total of 4 Townhomes closed during the 4th QTR in 2022. This is a decrease of -20% from 2021 when there were 5 closings.
Analysis of the absorption rate indicates an inventory of 1.8 month for Single-Family Homes and no townhome listings were available the end of the 4th QTR 2022.
Buyers might be interested in reading the following post on multiple offers.
Multiple Offer Strategies
Closed Sales & Pending Homes
Lexington Market Report – 4th QTR 2022
Closed Sales in zip codes 27292 and 27295
Lexington Market Report – 4th QTR 2022
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 | $105,000 | $120,008 |
| 2014 | $116,000 | $131,785 |
| 2015 | $125,000 | $144,103 |
| 2016 | $133,700 | $158,364 |
| 2017 | $142,295 | $163,509 |
| 2018 | $149,000 | $172,651 |
| 2019 | $155,000 | $180,481 |
| 2020 | $189,000 | $210,301 |
| 2021 | $225,000 | $248,916 |
| 2022 | $270,000 | $286,393 |
Time frame is from Jan 2013 to Dec 2022
Townhome Market in Lexington
The Median Sales Price for a Townhome at the end of December 2022 is $274,000. This is an increase 48.1% from the 4th QTR in 2021 when the Median Sales Price for a Townhome was $185,000.
The Average Sales Price for a Townhome is $275,250. This is an increase of +32% from the 4th QTR in 2021 when the Average Sales Price for a Townhome was $208,500.
Summary Lexington Market
Summary for Lexington, North Carolina
Lexington, NC Stats
New listings decreased -29.3% in the 4th QTR 2022 in Lexington, NC from the previous year. Pending Sales decreased by -32.9%. Closed Sales decreased by -16.5% from the same time frame in 2021. Prices are still rising because of the inventory shortage.
The Median Sales Price for a Single-Family Home is $270,000 which is an increase of +12.5% from the 4th QTR in 2021. The Average Sales Price for a Single-Family Home is $287,147 at the end of the 4th QTR 2022. This was a +8.3% increase from the 4th QTR in 2021.
Sellers are receiving 98.7% of their list price. Inventory levels for Single Family Homes for Sales increased by +37.4 from 2021 levels. At the end of the 4th QTR 2022, 191 single-family homes were available in Lexington. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
Earlier Market Reports for Lexington, NC
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