Cornelius Real Estate March 2024
Cornelius Real Estate March 2024 Highlights
Cornelius real estate March 2024 saw average and median home sale prices increase both month-over-month and year-over-year to their highest levels compared with March 2023 and 2022. The average sale price increased 41+% from February and almost 62% from March 2023. The number of properties sold increased both from one month ago and one year ago. Days on market increased nine days from February and also increased eight days compared with March one year ago. New listings were flat compared with one month ago and down 12.1% from one year ago. Inventory was flat compared with February 2024 and down almost 11% compared with March 2023. The months supply of inventory declined 1.18 months to 4.15 months, keeping Cornelius a balanced market between home buyers and sellers. Nonetheless, the list to sale price ratio of 99.69% provided Cornelius home buyers virtually no window of opportunity to negotiate on sale price.
Cornelius Real Estate March 2024 Snapshot
HOME SALE PRICES MIXED
Average sale price in March 2024 was $788,837, up 41.12% from $558,994 in the previous month of February. Year-over-year, the average home sale price was 61.98% higher than in March 2023 when it was $487,008. The March 2024 average sale price was at its highest level compared with March 2023 and 2022.
Median home sale price in March 2024 was $551,665, up 4.09% from $530,000 in the previous month of February. The median home sale price increased 28.29% from $430,000 in March 2023. The March 2024 median sale price was at its highest level compared with March 2023 and 2022.
Price per square foot in March 2024 was $292, down 2.34% from $299 in the most recent month of February. The price per square foot was 10.19% higher than the $265 in March one year ago.
DAYS ON MARKET UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
Average days on market in March 2024 were 37 days, increasing 32.14% from the previous month of February, which saw 38 days on market. Year-over-year, average days on market increased 27.59% from 29 days in March 2023. Compared with March 2022, current days on market were 22 days higher. March 2024 days on market were at their highest level compared with March 2023 and 2022.
CORNELIUS HOUSING INVENTORY MOSTLY FLAT MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of properties for sale in March 2024 was 195, essentially unchanged from February 2023, which had 193 properties for sale. Inventory was 10.96% lower than the 219 properties for sale in March one year ago. Inventory was higher than the 165 properties for sale in March 2022. The months supply of inventory declined to 4.15 months from 5.33 months in the previous month of February. Cornelius remained a balanced market between home buyers and home sellers in March 2024.
NEW LISTINGS FLAT MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of new listings in March 2024 was 51, down 1.92% from 52 new listings in the previous month of February. Compared with March 2023, new listings were 12.07% lower when new listings stood at 58 properties. March 2024 listings were also lower compared with March 2022, which had 71 new listings.
SALES INCREASED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Sales improved 27.03% in March 2024 to 47 from 37 in the previous month of February. March 2024 sales improved 27.03% from 37 in March 2023. Sales declined from 49 in March 2022.
LIST TO SALE RATIO JUST UNDER 100%
The selling price of 99.69% of list price improved 1.01% from 98.74% in February, increasing a third consecutive month. The list to sale price ratio also increased from 98.63% in March one year ago. Cornelius home buyers saw a very small window of opportunity to negotiate on price in March.
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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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