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 April 2023

At the same time last year, Lexington was a Neutral 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

$282,115

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$1,888(+0.7%)

Key Takeaway

Homes in Lexington have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Lexington was $282,115 in April 2024, up 0.7% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $126K$118K
-6.3%
2 $175.5K$181K
+3.1%
3 $259.9K$266.8K
+2.7%
4 $317.9K$310K
-2.5%
5+ $351K$365K
+4.0%

Summary: Lexington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 4%.

Median Sold Price Compared To Nearby Cities

Silver Hill Township
+5.1%
Conrad Hill Township
+4.6%
Lexington
+0.7%
Lexington Township
+0.7%
Cotton Grove Township
-0.8%

Housing Supply in Lexington, NC

How many homes are available in Lexington, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
401422+5.2%

Summary: The Lexington real estate market had 422 homes for sale in April 2024, a 5.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 34
+33.3%
2 5467
+24.1%
3 193203
+5.2%
4 135134
-0.7%
5+ 1614
-12.5%

Summary: The Lexington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 24.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
9190-1.1%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

11 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. 46.7% of homes here sold below asking price last month.

Summary: A total of 90 homes were sold or pending in Lexington in April 2024, down by 1.1% month-over-month. Of the 90 sold homes, 47% were sold under asking, 41% were sold at asking, and 12% 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

Apr 2023Apr 2024CHANGE
42 Days46 Days+9.5%

Summary: Homes in Lexington had an average of 46 days on market in Apr 2024, up by 9.5% compared to last year.

Breakdown of Home Sale Times

50 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

16 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 April 2024, 90 homes were sold in Lexington; 56% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 18% 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 10 Days Ago

Newest Listings in Lexington, NC

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