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

Mon Dec 04 2023
This week the median list price for Cornelius, NC 28031 is $819,000 with the market action index hovering around 41. This is an increase over last month's market action index of 40. Inventory has decreased to 37. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Cornelius, NC 28031

Mon Dec 04 2023
This week the median list price for Cornelius, NC 28031 is $819,000 with the market action index hovering around 41. This is an increase over last month's market action index of 40. Inventory has decreased to 37. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Cornelius market.
Median List Price $819,000
Median Price of New Listings $0
Per Square Foot $299
Average Days on Market 100
Median Days on Market 56
Price Decreased 59%
Price Increased 3%
Relisted 14%
Inventory 37
Median Rent
Market Action 41
Slight Seller's Advantage

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

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
$4,950,000 6,932 0.5 - 1 acre 5 5 26 0 2 84
$1,349,000 3,452 0.25 - 0.5 acre 4 3.5 28 0 2 77
$665,000 2,490 0.25 - 0.5 acre 4 2.5 22 0 2 49
$481,500 1,753 4,500 - 6,500 sqft 3 2.5 19 0 1 42