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
Fri May 09 2025
This week the median list price for Cornelius, NC 28031 is $1,275,000 with the market action index hovering around 37. This is less than last month's market action index of 39. Inventory has increased to 77.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,275,000 | |
| Median Price of New Listings | $1,075,000 | |
| Per Square Foot | $397 | |
| Average Days on Market | 86 | |
| Median Days on Market | 35 | |
| Price Decreased | 48% | |
| Price Increased | 1% | |
| Relisted | 3% | |
| Inventory | 77 | |
| Median Rent | ||
| Market Action | 37 | |
| Slight Seller's Advantage | ||
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,395,000 | 6,194 | 0.5 - 1 acre | 5 | 6 | 23 | 0 | 1 | 42 |
| $2,199,000 | 4,279 | 0.5 - 1 acre | 4 | 4 | 27 | 3 | 0 | 35 |
| $979,900 | 3,202 | 0.25 - 0.5 acre | 4 | 3 | 16 | 3 | 2 | 21 |
| $514,500 | 1,795 | 6,500 - 8,000 sqft | 3 | 2.5 | 20 | 2 | 1 | 49 |