Is Lexington, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lexington has remained a Seller's Market.
Housing Prices in Lexington, NC
How much do homes in Lexington, NC cost?
Median Sold Price
$284,245
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lexington was $284,245 in May 2024, up 1.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $93K | -43.6% |
2 Bedrooms | $180K | $181K | +0.6% |
3 Bedrooms | $259.9K | $269.9K | +3.8% |
4 Bedrooms | $316.7K | $310.1K | -2.1% |
5+ Bedrooms | $349.8K | $365K | +4.3% |
Summary: Lexington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.6%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
Silver Hill Township | $302.1K | $335K | +10.9% |
Conrad Hill Township | $250K | $260K | +4.0% |
Lexington | $280.3K | $284.2K | +1.4% |
Lexington Township | $280.6K | $284.2K | +1.3% |
Cotton Grove Township | $314.9K | $309K | -1.9% |
Housing Supply in Lexington, NC
How many homes are available in Lexington, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
446 | 445 | -0.2% |
Summary: The Lexington real estate market had 445 homes for sale in May 2024, a 0.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 66 | 65 | -1.5% |
3 Bedrooms | 217 | 211 | -2.8% |
4 Bedrooms | 147 | 154 | +4.8% |
5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The Lexington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
96 | 106 | +10.4% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 106 homes were sold or pending in Lexington in May 2024, up by 10.4% month-over-month. Of the 106 sold homes, 42% were sold under asking, 37% were sold at asking, and 21% were sold over asking.
Days on Market for Lexington, NC
How long does it take to sell a home in Lexington, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 35 Days | +17.2% |
Summary: Homes in Lexington had an average of 35 days on market in May 2024, up by 17.2% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During May 2024, 106 homes were sold in Lexington; 66% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.