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 20 Days Ago

Newest Listings in Lexington, NC

Nearby Markets to Lexington, NC

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