Maurice Barnes' Market Report
Cornelius, NC
Single-Family Homes
Keller Williams Realty | 704-610-4112 | maurice.barnes@kw.com
Cornelius, NC
Fri Oct 18 2024
This week the median list price for Cornelius, NC is $752,500 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has held steady at or around 54.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $752,500 | |
| Median Price of New Listings | $527,000 | |
| Per Square Foot | $305 | |
| Average Days on Market | 98 | |
| Median Days on Market | 67 | |
| Price Decreased | 50% | |
| Price Increased | 4% | |
| Relisted | 7% | |
| Inventory | 54 | |
| Median Rent | ||
| Market Action | 44 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,695,000 | 5,872 | 0.5 - 1 acre | 5 | 5.5 | 6 | 2 | 1 | 56 |
| $1,199,900 | 3,561 | 0.5 - 1 acre | 4 | 4 | 24 | 0 | 3 | 49 |
| $584,500 | 2,589 | 0.25 - 0.5 acre | 3 | 3 | 20 | 1 | 0 | 87 |
| $442,500 | 1,658 | 4,500 - 6,500 sqft | 3 | 2.3 | 20 | 3 | 3 | 70 |