Is Lexington, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lexington is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Lexington has remained a Seller's Market.

Key Takeaway

Lexington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lexington, NC

How much do homes in Lexington, NC cost?

Median Sold Price

$288,532

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$8,970(+3.2%)

Key Takeaway

Homes in Lexington have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Lexington was $288,532 in October 2024, up 3.2% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $122K$103K
-15.6%
2 $175K$210K
+20.0%
3 $260K$270K
+3.8%
4 $309.1K$317.5K
+2.7%
5+ $351.4K$375.7K
+6.9%

Summary: Lexington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 6.9%.

Median Sold Price Compared To Nearby Cities

Silver Hill Township
+13.5%
Lexington
+3.2%
Lexington Township
+3.2%
Cotton Grove Township
0.4%
Conrad Hill Township
-3.8%

Housing Supply in Lexington, NC

How many homes are available in Lexington, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
478476-0.4%

Summary: The Lexington real estate market had 476 homes for sale in October 2024, a 0.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 6371
+12.7%
3 233243
+4.3%
4 164144
-12.2%
5+ 1414
0.0%

Summary: The Lexington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
114105-7.9%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

45 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lexington, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 105 homes were sold or pending in Lexington in October 2024, down by 7.9% month-over-month. Of the 105 sold homes, 44% were sold under asking, 43% were sold at asking, and 13% 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

Oct 2023Oct 2024CHANGE
28 Days44 Days+57.0%

Summary: Homes in Lexington had an average of 44 days on market in Oct 2024, up by 57% compared to last year.

Breakdown of Home Sale Times

59 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lexington are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 105 homes were sold in Lexington; 56% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Lexington, NC

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