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 May 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

$284,245

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,910(+1.4%)

Key Takeaway

Homes in Lexington have sold for 1.4% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $165K$93K
-43.6%
2 $180K$181K
+0.6%
3 $259.9K$269.9K
+3.8%
4 $316.7K$310.1K
-2.1%
5+ $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
+10.9%
Conrad Hill Township
+4.0%
Lexington
+1.4%
Lexington Township
+1.3%
Cotton Grove Township
-1.9%

Housing Supply in Lexington, NC

How many homes are available in Lexington, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
446445-0.2%

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

# BEDSApr 2024May 2024CHANGE
1 47
+75.0%
2 6665
-1.5%
3 217211
-2.8%
4 147154
+4.8%
5+ 128
-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 2024May 2024CHANGE
96106+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lexington, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.

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 2023May 2024CHANGE
30 Days35 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

Newest Listings in Lexington, NC

Nearby Markets to Lexington, NC

What housing markets are near Lexington, NC?