Cornelius, NC 28031

Mike Hege's Market Report

Cornelius, NC 28031

Single-Family Homes

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

Thu May 09 2024
This week the median list price for Cornelius, NC 28031 is $1,212,500 with the market action index hovering around 45. This is an increase over last month's market action index of 42. Inventory has increased to 42. 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.

Strong Seller's Market

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Real-Time Market Profile

Median List Price		$1,212,500
Median Price of New Listings		$709,000
Per Square Foot		$378
Average Days on Market		63
Median Days on Market		32
Price Decreased		38%
Price Increased		0%
Relisted		0%
Inventory		42
Median Rent
Market Action		45
Strong Seller's Market

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
$5,850,000	7,054	0.5 - 1 acre	5	6.5	7	2	0	28
$2,082,500	4,915	0.5 - 1 acre	4	4	31	2	1	38
$827,000	2,665	0.25 - 0.5 acre	4	2.5	26	2	2	42
$470,000	1,997	4,500 - 6,500 sqft	3	2.5	24	3	0	14

Median Price	Sq. Ft.	Lot Size	Beds	Bath	Age	New	Absorbed	DOM
$5,850,000	7,054	0.5 - 1 acre	5	6.5	7	2	0	28
$2,082,500	4,915	0.5 - 1 acre	4	4	31	2	1	38
$827,000	2,665	0.25 - 0.5 acre	4	2.5	26	2	2	42
$470,000	1,997	4,500 - 6,500 sqft	3	2.5	24	3	0	14

Median Price	Top $5,850,000	Upper $2,082,500	Lower $827,000	Bottom $470,000
Sq. Ft.	7,054	4,915	2,665	1,997
Lot Size	0.5 - 1 acre	0.5 - 1 acre	0.25 - 0.5 acre	4,500 - 6,500 sqft
Beds	5	4	4	3
Baths	6.5	4	2.5	2.5
Age	7	31	26	24
New	2	2	2	3
Absorbed	0	1	2	0
DOM	28	38	42	14

Mike Hege's Market Report