Cornelius Real Estate January 2024
Cornelius Real Estate January 2024 Highlights
Cornelius real estate January 2024 saw home sale prices mixed. Median sale price was up both month-over-month and year-over-year. Average sale price declined from one month ago, but improved from one year ago. The number of properties sold increased 27+% from December and 68% from January one year ago. Days on market were unchanged at 39 days from one month ago, but were 17 days higher than in January 2023. New listings increased month-over-month and year-over-year. Inventory was flat compared with December 2023 and down compared with January 2023. The months supply of inventory was 4.45 shifting Cornelius towards a balanced market between home buyers and sellers. List to sale price ratio was just under 97.09%, providing home buyers a small window of opportunity to negotiate on sale price. The list to sale price ratio remained steady compared with one month ago and one year ago
Cornelius Real Estate January 2024 Snapshot
HOME SALE PRICES MIXED
Average sale price in January 2024 was $806,153 down 20.87% from $1,018,777 in December. Year-over-year, the average home sale price was 19.44% higher than in January 2023 when it was $674,917. The January 2024 average sale price was at its highest level compared with January 2023 and 2022.
Median home sale price in January 2024 was $575,000, up 2.31 % from $562,000 in the previous month of December. The median home sale price increased 18.56% from $485,000 in January 2023. The January 2024 median sale price was at its highest level compared with January 2023 and 2022.
Price per square foot in January 2024 was $309, down 7.76% from $335 in December 2023. The price per square foot was 19.31% higher than the $259 in January one year ago.
DAYS ON MARKET UNCHANGED MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
Average days on market in January 2024 were 39 days, unchanged from December 2023. Year-over-year, average days on market declined 31.58% from 57 days in January 2023. Compared with January 2022, current days on market were six days higher.
CORNELIUS HOUSING INVENTORY FLAT MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of properties for sale in January 2024 was 187 essentially unchanged from December 2023, which had 188 properties for sale. Inventory was 13.02% lower than the 215 properties for sale in January one year ago. Inventory was higher than the 167 properties for sale in January 2022. With 4.45 months supply of inventory, Cornelius has turned the corner becoming a balanced market between home buyers and home sellers.
NEW LISTINGS INCREASED MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of new listings in January 2024 was 54, up from 24 new listings in the previous month of December. Compared with January 2023, new listings were 20% higher when new listings stood at 45 properties. January 2024 listings were slightly lower compared with January 2022, which had 56 new listings.
SALES INCREASED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Sales increased 27.27% in January 2024 to 42 from 33 in December 2023. Sales increased 68% from 25 in January 2023. Sales also improved from 39 in January 2022.
LIST TO SALE RATIO FLAT YEAR-OVER-YEAR & MONTH-OVER-MONTH
The selling price of 97.09% of list price was essentially flat month-over-month and year-over-year. Buyers saw seeing a small window of opportunity to negotiate on price in January.
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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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