Cornelius Real Estate February 2024
Cornelius Real Estate February 2024 Highlights
Cornelius real estate February 2024 saw home sale prices mixed. Average sale prices were at their lowest levels compared with February 2023 and 2022, while the median sale prices were at their highest levels compared with February 2023 and 2022. The number of properties sold declined both from one month ago and one year ago. Homes sold quickly in 25 days with days on market declining significantly — 35.9% from January and 45.7% from February one year ago. New listings decreased month-over-month, but were higher year-over-year. Inventory was flat compared with January 2024 and down compared with February 2023. The months supply of inventory was 5.33, shifting Cornelius towards a balanced market between home buyers and sellers. List to sale price ratio improved to 98.74%, providing home buyers a small window of opportunity to negotiate on sale price.
Cornelius Real Estate February 2024 Snapshot
HOME SALE PRICES MIXED
Average sale price in February 2024 was $559,966 down 30.54% from $806,153 in the previous month of January. Year-over-year, the average home sale price was 24.49% lower than in February 2023 when it was $741,539. The February 2024 average sale price was at its lowest level compared with February 2023 and 2022.
Median home sale price in February 2024 was $532,500, down 7.39% from $575,000 in the previous month of January. The median home sale price increased 3.9% from $512,000 in February 2023. The February 2024 median sale price was at its highest level compared with February 2023 and 2022.
Price per square foot in February 2024 was $300, down 2.91% from $309 in the most recent month of January. The price per square foot was 2.04% higher than the $294 in February one year ago.
DAYS ON MARKET DECLINED ALMOST 36% MONTH-OVER-MONTH & 45.65% YEAR-OVER-YEAR
Average days on market in February 2024 were 25 days, declining 35.9% from the previous month of January, which saw 39 days on market. Year-over-year, average days on market declined 45.65% from 46 days in February 2023. Compared with February 2022, current days on market were eight days lower. February’s days on market were at their second lowest level since December 2023. Only April 2024 had lower days on market at 23 days.
CORNELIUS HOUSING INVENTORY MOSTLY FLAT MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of properties for sale in February 2024 was 192, essentially unchanged from January 2023, which had 190 properties for sale. Inventory was 8.57% lower than the 210 properties for sale in February one year ago. Inventory was higher than the 167 properties for sale in February 2022. With 5.33 months supply of inventory, Cornelius definitely turned the corner becoming a balanced market between home buyers and home sellers.
NEW LISTINGS DOWN MONTH-OVER-MONTH | UP YEAR-OVER-YEAR
The number of new listings in February 2024 was 51, down 5.56% from 54 new listings in the previous month of January. Compared with February 2023, new listings were 15.91% higher when new listings stood at 44 properties. February 2024 listings were slightly lower compared with February 2022, which had 56 new listings.
SALES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Sales declined 14.29% in February 2024 to 36 from 42 in the previous month of January. After increasing some 68% in the most recent month of January, February 2024 sales declined 18.18% from 44 in February 2023. Sales also declined from 42 in February 2022. February 2024 closed sales were at their second lowest level in 12 months and at their lowest level compared with February 2023 and 2022.
LIST TO SALE RATIO UP MONTH-OVER-MONTH | FLAT YEAR-OVER-YEAR
The selling price of 98.74% of list price improved 1.65% from 97.09% in January. Buyers saw a very small window of opportunity to negotiate on price in February.
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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.
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