Mike Hege's Market Report

Cornelius, NC 28031

Single-Family Homes

Pridemore Team at Compass | 704-491-9445 | mike.hege@compass.com



Cornelius, NC 28031

Wed Dec 11 2024
This week the median list price for Cornelius, NC 28031 is $875,000 with the market action index hovering around 41. This is less than last month's market action index of 43. Inventory has held steady at or around 50. Click here to stay informed with the Cornelius market!

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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Cornelius, NC 28031

Wed Dec 11 2024
This week the median list price for Cornelius, NC 28031 is $875,000 with the market action index hovering around 41. This is less than last month's market action index of 43. Inventory has held steady at or around 50. Click here to stay informed with the Cornelius market!

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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Cornelius market.
Median List Price $875,000
Median Price of New Listings $910,000
Per Square Foot $335
Average Days on Market 90
Median Days on Market 42
Price Decreased 44%
Price Increased 0%
Relisted 8%
Inventory 50
Median Rent
Market Action 41
Slight Seller's Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

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
$6,750,000 6,261 0.5 - 1 acre 5 5.3 17 0 0 42
$1,360,000 3,402 0.5 - 1 acre 4 3.5 30 2 0 49
$745,000 2,388 8,000 - 10,000 sqft 3 2.5 22 2 1 28
$450,000 1,666 4,500 - 6,500 sqft 3 2.5 20 0 1 56