Cornelius Real Estate August 2024
Cornelius Real Estate August 2024 Highlights
Cornelius real estate August 2024 saw both average and median home sale prices decline from one month ago and one year ago. The number of properties sold declined from the previous month, but were almost 35% higher than one year ago. Days on market increased month-over-month and year-over-year. New listings increased to their highest level since June 2022. Inventory increased to its highest level in the past three years. The months supply of inventory at 4.07 months nudged Cornelius towards a balanced market. The list to sale price ratio of 97.26% provided Cornelius home buyers with a small window of opportunity to negotiate on sale price.
Cornelius Real Estate August 2024 Snapshot
HOME SALE PRICES DECLINED IN AUGUST
Average home sale price in August 2024 was $857,864, down 25.19% from $1,146,690 in the previous month of July. Year-over-year, the average home sale price was 6.42% lower than in August 2023 when it was $916,699.
Median home sale price in August 2024 was $525,000, down 12.72% from $601,500 in the previous month of July. The median home sale price declined 17.32% from $635,000 in August 2023.
Price per square foot in August 2024 was $329, down 7.58% from $356 in the most recent month of July. The price per square foot was 1.54% higher than the $324 in August one year ago.
DAYS ON MARKET UP
Average days on market in August 2024 were 30 days, up from 23 days in the previous month. Year-over-year, average days on market increased 30.43% from 23 days in August 2023. Compared with August 2022, current days on market were 10 days higher.
CORNELIUS HOUSING INVENTORY UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of properties for sale in August 2024 was 236, up 5.36% from July 2024, which had 224 properties for sale. Inventory was 18% higher than the 200 properties for sale in August one year ago. Inventory was also higher than the 231 properties for sale in August 2022. August 2024 inventory was at its highest level in the past three years.
The months supply of inventory in August at 4.07 months increased from 3.52 months one month ago, pushing Cornelius towards a balanced market.
NEW LISTINGS UP A 3RD CONSECUTIVE MONTH
The number of new listings in August 2024 was 81, up 19.12% from 68 new listings in the previous month of July. Compared with August 2023, new listings were 47.27% higher when new listings stood at 55 properties. August 2024 listings were slightly higher compared with August 2022, which had 78 new listings. New listings were at their highest level since June 2022 when Cornelius had 103 new properties come on the market.
SALES DOWN MONTH-OVER-MONTH | UP YEAR-OVER-YEAR
Sales declined 7.94% in August 2024 to 58 from 63 in the previous month of July. August 2024 sales were 34.88% higher than in August 2023, which had 43 sales. Sales were higher by four properties compared with August two years ago.
LIST TO SALE RATIO DOWN SLIGHTLY
The selling price of 97.26% of list price declined from 98.26% in July. The list to sale price ratio was unchanged compared with August one year ago. Cornelius home buyers saw a small window of opportunity to negotiate on price in August.
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DID YOU KNOW…
Cornelius has been rated the 7th best suburb in the Charlotte metro area?
Cornelius has been rated the 13th with the best public schools in the Charlotte metro area?
Cornelius has been rated the 7th best suburb to raise a family in the Charlotte metro area?
Cornelius has been rated the 7th best suburb for young professionals in the Charlotte mtro area?
(rankings provided by niche.com)
CORNELIUS: A CHARMING RETREAT IN GREATER CHARLOTTE
Situated along the picturesque shores of Lake Norman, Cornelius, North Carolina, offers a serene and vibrant lifestyle that has captured the hearts of residents and visitors alike. Offering a perfect blend of natural beauty, recreational opportunities, and a thriving community spirit, people are drawn to this charming town less than 30 minutes from Charlotte. Cornelius has the perfect combination of natural beauty, small-town charm, and urban convenience. With its stunning lake views, strong sense of community, excellent schools, and thriving real estate market, it’s no wonder why people from all walks of life are choosing to call Cornelius home
A primary draw of Cornelius is its proximity to Lake Norman, the largest man-made lake in North Carolina. With over 520 miles of shoreline, the lake provides endless opportunities for outdoor recreation, including boating, fishing, water sports, and lakeside picnics. Cornelius residents enjoy easy access to marinas, boat launches, and waterfront parks, allowing them to fully embrace the lake lifestyle year-round.
Despite its tranquil ambiance, Cornelius is just a short drive away from the vibrant city of Charlotte, offering the best of both worlds. Residents can enjoy the peace and quiet of small-town living while still having access to all the amenities and cultural attractions of a major metropolitan area.
For families considering a move to Cornelius, the town boasts top-rated schools and a safe, family-friendly environment. With a variety of parks, playgrounds, and recreational facilities, there’s no shortage of activities to keep children entertained and engaged. Additionally, the low crime rate and well-maintained neighborhoods provide parents with peace of mind.
Contact Nina Hollander with Coldwell Banker Realty if you’d like more information about buying or selling a home in Cornelius (or in any Greater Charlotte neighborhood, for that matter). I’ve been opening doors for Cornelius home buyers and sellers since 1999.
WONDERING WHAT YOUR CORNELIUS HOME IS WORTH?
FREE Home Seller Guide: “Things To Consider When Selling Your House”
If you’re considering selling or purchasing a home in Cornelius, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
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PREVIOUS CORNELIUS REAL ESTATE REPORTS
Cornelius Real Estate Report July 2024
Cornelius Real Estate Report June 2024
Cornelius Real Estate Report May 2024
Cornelius Real Estate Report April 2024
Cornelius Real Estate Report March 2024
