Is Lexington, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$280,737
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lexington have sold for 22.1% more than they did a year ago.
Summary: The median home sold price in Lexington was $280,737 in March 2024, up 22.1% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $88.5K | $125K | +41.2% |
| 2 Bedrooms | $137.4K | $180K | +31.0% |
| 3 Bedrooms | $229.9K | $268.7K | +16.9% |
| 4 Bedrooms | $310.8K | $310K | -0.3% |
| 5+ Bedrooms | $360K | $335.2K | -6.9% |
Summary: Lexington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.2%, 2 bedroom homes increased by 31%, 3 bedroom homes increased by 16.9%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Lexington | $229.9K | $280.7K | +22.1% |
| Lexington Township | $245.3K | $280.5K | +14.4% |
| Conrad Hill Township | $250K | $259.9K | +4.0% |
| Silver Hill Township | $298.8K | $310K | +3.7% |
| Cotton Grove Township | $317.9K | $312.5K | -1.7% |
Housing Supply in Lexington, NC
How many homes are available in Lexington, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 376 | 391 | +4.0% |
Summary: The Lexington real estate market had 391 homes for sale in March 2024, a 4.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 51 | 52 | +2.0% |
| 3 Bedrooms | 200 | 195 | -2.5% |
| 4 Bedrooms | 107 | 128 | +19.6% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Lexington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 79 | 94 | +19.0% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you may be able to get a good deal. 53.2% of homes here sold below asking price last month.
Summary: A total of 94 homes were sold or pending in Lexington in March 2024, up by 19.0% month-over-month. Of the 94 sold homes, 53% were sold under asking, 32% were sold at asking, and 15% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 61 Days | +24.3% |
Summary: Homes in Lexington had an average of 61 days on market in Mar 2024, up by 24.3% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
28 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 94 homes were sold in Lexington; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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