Understanding the local real estate market conditions is very important for buyers and sellers who are considering entering the market. Here is the Real Estate Market Report for Davidson County showing statistics in the 3rd QTR 2021. 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.
- Single-Family Homes Market Report
- New Listings in Lexington under 250K
- Market Report -3rd QTR 2021 stats for Single-Family Homes
- Closed Sales Market Report - 3rd QTR 2021
- Closed Sales & DOM by Price Range for SFHomes
- Are Home Prices Increasing in Davidson County?
- Spotlight on New Construction from 300K to 400K
- Market Report - 3rd QTR 2021 for Townhomes
- Tips in a Sellers Market
- Summary for Davidson County
- Request for More Information
Single-Family Homes Market Report
Single Family Homes Statistics
At the end of the 3rd QTR 2021, there are 693 Single-Family Homes pending. This is an increase of +6.6% from the 3rd QTR in 2020, when there were 650 listings pending.
During the 3rd QTR 2021, 873 Single-Family Home listings came on the market. This was an increase of +26.7% from the 3rd QTR in 2020, when there were 689 new listings.
At the end of the 3rd QTR 2021, the number of Single-Family Homes for Sale is 291 properties. This is an increase of +3.6% from the 3rd QTR in 2020, when there were 281 homes available for sale.
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New Listings in Lexington under 250K
Market Report -3rd QTR 2021 stats for 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.
This chart displays Days on Market for a 3 year period in Davidson County for the cities of Lexington, Thomasville, and Denton.
Closed Sales Market Report – 3rd QTR 2021
During the 3rd QTR 2021, 711 Single-Family homes closed, which is an increase of +11.3% from the same time period in 2020. Sellers are receiving 101% of their list price.
The Median Sales Price for Single-Family homes in the 3rd QTR 2021 is $235,000, which is a +13.7% increase from the 3rd QTR in 2020 when the Median Sales Price for Single-Family homes was $206,695.
Of the single-family homes closed, 88% 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 36% of the homes closed. The second highest price range were homes priced from $100,000 up to $199,999, which made up 26% of the home closings in the 3rd QTR 2021.
Analysis of the absorption rates indicates an inventory of 1.4 months for Single-Family homes. Most properties are going under contract within 13 days.
Closed Sales & DOM by Price Range for SFHomes
Are Home Prices Increasing in Davidson County?
Below is a chart showing Median Sales Price and Average Sales Price for single-family Homes in Davidson County by year from 2016 through September 2021.
| Primary Year | Sale Price, Median | Sale Price, Average |
|---|---|---|
| 2016 | $145,000 | $167,558 |
| 2017 | $155,000 | $183,378 |
| 2018 | $163,000 | $191,343 |
| 2019 | $169,900 | $200,752 |
| 2020 | $197,000 | $226,920 |
| 2021 | $225,000 | $254,684 |
Time frame is from Jan 2016 to Sep 2021
Spotlight on New Construction from 300K to 400K
Market Report – 3rd QTR 2021 for Townhomes
Townhome Statistics
At the end of the 3rd QTR 2021, there are 34 Townhome Listings pending. This is a decrease of -52.1% from the 3rd QTR in 2020 when there were 71 townhomes pending.
During the 3rd QTR 2021, 42 New Townhome Listings came on the market. This is a decrease of -37.3% from the 3rd QTR in 2020.
At the end of the 3rd QTR 2021, there are 16 Townhomes for sale, which is a decrease of -15.8% from the 3rd QTR in 2020 when there were 19 townhomes for sale.
During the 3rd QTR 2021, 38 Townhome Listings closed, which is a decrease of -26.9% from the 3rd QTR in 2020 when 52 townhomes closed. Sellers are receiving 101.4% of their list price.
Median Sales Price for Townhomes in the 3rd QTR 2021 is 238,500, which is an increase of +11.1% from the 3rd QTR 2020 when the Median Sales Price was $214,664.
Analysis of the absorption rates indicates an inventory supply of 1.3 months for Townhome Listings. Most properties are going under contract within 23 days.
Tips in a Sellers Market
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 2021 and into 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:
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.
You might also like to read earlier Market Reports.
Market Report – 1st QTR 2021
Market Report – 2nd QTR 2021
Summary for Davidson County
Davidson County NC Stats
New listings increased by 26.7% in the 3rd QTR 2021 in Davidson County from the previous year. Pending Sales increased by 6.6%. Closed Sales increased by 11.3%. Prices are still rising because of the severe inventory shortage.
The Median Sales Price for Single-Family Home was $235,000. This is an increase of +13.7% from the 3rd QTR in 2020. The Average Sales Price was $256,396 at the end of the 3rd QTR 2021. This was a +9.8% increase for the 3rd QTR in 2020.
Sellers are receiving 101% of their List Price. Inventory levels of Homes for Sale increased slightly by +3.6% from 2020 levels. At the end of the 3rd QTR 2021, 291 single family homes were available. Homebuyers wanting to enter the market will continue to be challenged by the low inventory levels.
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