Here is the Real Estate Market Report for Davidson County in North Carolina showing statistics at the end of the 2nd QTR 2023. 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.

White house on left with sun shining down on green grass wording says Davidson County Market Report 2nd QTR 2023

Single-Family Homes Market Report – 2nd QTR 2023

Statistics for Single Family Homes

 

Home with gray siding and 2 car garage with green front yardAt the end of the 2nd QTR 2023, there are 589 Single-Family Homes pending.  This is a decrease of -16.7% from the 2nd QTR in 2022, when there were 707 listings pending.

During the 2nd QTR 2023, 670Single-Family Home listings came on the market.  This was a decrease of -24.5% from the 2nd QTR in 2022, when there were 888 new listings.

At the end of the 2nd QTR 2023, the number of Single-Family Homes for Sale is 357 properties.  This is an increase of +10.9% from the 2nd QTR in 2022, when there were 322 homes available for sale.

 

 

Get Your Free Instant Home Valuation Here

 

New Listings in Davidson County

Market Report – 2nd QTR 2023

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.  Figures are through August 2023.

 

Single Family Homes

This chart displays Days on Market for a 3 year period in Davidson County for the cities of Lexington, Thomasville, and Denton.  Figures are through August 2023.

 

Market Report – 2nd QTR 2023 for Closed Sales

 

Two story white home in background with home for sale sign and sold bannerDuring the 2nd QTR 2023, 567 Single-Family homes closed, which is a decrease of -15% from the same time period in 2022.  Sellers are receiving 100% of their list price.

The Median Sales Price for Single-Family homes in the 2nd QTR 2023 is $275,000.  This is an increase of +1.9% from the 2nd Quarter of 2022, when the Median Sales Price was $270,000.

The Average Price for Single-Family homes in the 2nd QTR 2023 is $293,662. This is an increase of +1.2% from the 2nd QTR 2022 when the Average Sales Price for Single-Family Homes was $290,095.

Of the single-family homes closed, 66% 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 40% of the homes closed.  The second highest price range were homes priced from $300,000 up to $399,999, which made up 23% of the home closings in the 2nd QTR 2023.

Analysis of the absorption rates indicates an inventory of 1.9 months for Single-Family homes.  Most properties are going under contract within 35 days.

 

 

Closed Sales & Price Per Sq. Ft. Single Family Homes

Browse New Construction under 350K


Chart showing 10 year increases of Median Home Prices and Average Home Prices

Below is a chart showing Median Sales Price and Average Sales Price for residential properties in Davidson County by year from January 2023 through August 2023.

 

Primary Year Sale Price, Median Sale Price, Average
2013 $116,350 $132,942
2014 $119,000 $138,955
2015 $127,500 $144,463
2016 $132,500 $152,881
2017 $141,500 $162,844
2018 $148,995 $169,589
2019 $157,490 $181,152
2020 $177,100 $201,539
2021 $206,000 $226,414
2022 $249,990 $263,780
2023 $256,990 $266,274

Time frame is from Jan 2013 to Aug 2023

Status is one of ‘Active’, ‘Due Diligence Period’, ‘Pending AB’, ‘Pending’, ‘Closed’
County is ‘Davidson’
Results calculated from approximately 25,000 listings

Number of New Listings & Closed Sales – 10 Years

Below is a chart showing Number of New Listings and Number of Closed Sales for residential properties in Davidson County by year from January 2023 through August 2023.

 

Primary Year Number of New Listings Sales, Number of
2013 1,455 1,438
2014 1,533 1,449
2015 1,767 1,643
2016 1,987 1,985
2017 2,292 2,300
2018 2,308 2,410
2019 2,427 2,377
2020 2,697 2,792
2021 3,265 3,217
2022 3,060 3,093
2023 2,097 1,813

Time frame is from Jan 2013 to Aug 2023

Status is one of ‘Active’, ‘Due Diligence Period’, ‘Pending AB’, ‘Pending’, ‘Closed’
County is ‘Davidson’
Results calculated from approximately 26,000 listings

 

Market Report – 2nd QTR 2023 for Townhomes

Townhome Statistics

Two story townhomes with garage space

At the end of the 2nd QTR 2023, there are 30 Townhome Listings pending.  This is a decrease of +11.1% from the 2nd QTR 2022, when there were 27 Townhome Listings pending.

During the 2nd QTR 2023, 48 Townhome Listings came on the market.  This was an increase of +26.3% from the 2nd QTR 2022, when there were 38 new listings on the market.

At the end of the 2nd QTR 2023, there are 37 Townhomes for sale, which is an increase of +208.3% from the 2nd QTR in 2022 when there were 12 townhomes for sale.

During the 2nd QTR 2023, 32 Townhome Listings closed, which is a decrease of -3.0% from the 2nd QTR in 2022 when 33 townhomes closed.   Sellers are receiving 99.8% of their list price.

Median Sales Price for Townhomes in the 2nd QTR 2023 is $265,000, which is a decrease of -10.2% from the 2nd QTR 2022, when the Median Sales Price was $295,000.  The Average Sales Price for Townhomes in the 2nd QTR 2023 is $269,848, which is a decrease of -11.8% from the 2nd QTR 2022, when the Average Sales Price for a Townhome was $305,877.

Analysis of the absorption rates indicates an inventory supply of 3.4 months for Townhome Listings.  Most properties are going under contract within 37 days.

Shop Friedberg Village


Tips in a Sellers Market

For Buyers

  • Talk to a local lender and get pre-approved so that you know what price range you can afford.
  • Inventory levels will remain tight in 2023 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.
  • Continue to save and pay off existing debt.

You might also enjoy reading my post on Multiple Offers:

 

Strategies for 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.

Earlier Market Reports

Market Report – 2nd QTR 2023 Summary

Davidson County NC Stats

New Single Family Home Listings decreased by -24.5% and Townhome Listings increased by +26.3% from the 2nd QTR 2022.  Pending Sales decreased by -16.7% for Single Family Homes and Pending Sales increased +11.1% in Townhome Listings.   Closed Sales for Single Family Homes decreased by -15%.  There was a decrease of -3.0% for closed Townhome properties.

The Median Sales Price for a Single-Family Home was $275,000.  This was an increase of +1.9% from the 2nd QTR 2022. The Average Sales Price for a Single-Family Home was $293,662 at the end of the 2nd QTR 2023.  This was an increase of 1.2% from the 2nd QTR 2022.

The Median Sales Price for a Townhome was $265,000.  This was a decrease of -10.2% from the 2nd QTR 2022.  The Average Sales Price for a Townhome was $269,848.  This was a decrease of -11.8% from the 2nd QTR 2022.

Sellers are receiving 100.0% of their List Price for Single Family Homes and 99.8% for Townhome properties.  Inventory levels of Homes for Sale increased by +10.9% from 2022 levels for Single-Family Homes and increased by +208.3% for townhome listings.  At the end of the 2nd QTR 2023, 357 Single Family Homes were available for sale and 37 Townhomes.  Homebuyers will continue to be challenged by the low inventory levels.

Davidson County NC Map


Request for More Information

Request More Info

 

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.
Summary
Market Watch Report for Davidson County - 2nd QTR 2023
Article Name
Market Watch Report for Davidson County - 2nd QTR 2023
Description
Enjoy this Real Estate Market Report showing statistics in the 2nd Quarter 2023 for Davidson County, North Carolina. View interactive charts for the supply of homes, pending sales, closed sales, and days on market. Browse Homes for Sale in Lexington, North Carolina
Author
Publisher Name
DavidsonCountyHomefinder.com
Publisher Logo
View All Market Reports Posts
Share