Cornelius Real Estate July 2024
Cornelius Real Estate July 2024 Highlights
Cornelius real estate July 2024 saw the average home sale price increase to its highest level in the past three years. Median sale price increased 15.67% from one year ago. The number of properties sold increased 50% from one month ago and 43.18% from one year ago to their highest level since July 2022. Days on market declined sharply from one month ago — down 39.47% to 23 days. Year-over-year days on market declined two days. New listings increased slightly month-over-month, but increased 24.07% year-over-year. Inventory increased to its highest level since November 2022. Despite the higher inventory, the months supply of inventory declined to 3.52 months from 5.14 month in June, pushing Cornelius back into home seller “territory.” The list to sale price ratio of 98.26% provided Cornelius home buyers with a very small window of opportunity to negotiate on sale price.
Cornelius Real Estate July 2024 Snapshot
HOME SALE PRICES DOWN MONTH-OVER-MONTH | UP YEAR-OVER-YEAR
Average home sale price in July 2024 was $1,146,690, up 28.31% from $893,718 in the previous month of June. Year-over-year, the average home sale price was 9.07% higher than in July 2023 when it was $1,051,365. The July 2024 average sale price was at its highest level in the past three years.
Median home sale price in July 2024 was $601,500, down 3.18% from $621,250 in the previous month of June. The median home sale price increased 15.67% from $520,000 in July 2023. The July 2024 median sale price was at its highest level compared with July 2023 and 2022.
Price per square foot in July 2024 was $356, up 8.54% from $328 in the most recent month of June. The price per square foot was 2.89% higher than the $346 in July one year ago.
DAYS ON MARKET DROPPED SHARPLY
Average days on market in July 2024 were 23 days, down 39.47% from 38 days in the previous month. Year-over-year, average days on market declined 20.69% from 29 days in July 2023. Compared with July 2022, current days on market were 14 days higher. July’s days on market were at their lowest level since August 2023 when days on market also stood at 23 days.
CORNELIUS HOUSING INVENTORY UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of properties for sale in July 2024 was 222, up 2.78% from June 2024, which had 216 properties for sale. Inventory was 9.9% higher than the 202 properties for sale in July one year ago. Inventory was also higher than the 220 properties for sale in July 2022. July 2024 inventory was at its highest level since November 2022 when inventory stood at 225.
The months supply of inventory in July at 3.52 months declined from 5.14 months one month ago, pushing Cornelius back into a home seller’s market.
NEW LISTINGS INCREASED SLIGHTLY
The number of new listings in July 2024 was 67, up 3.08% from 65 new listings in the previous month of June. Compared with July 2023, new listings were 24.07% higher when new listings stood at 54 properties. July 2024 listings were slightly lower compared with July 2022, which had 70 new listings.
SALES UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
Sales increased 50% in July 2024 to 63 from 42 in the previous month of June. July 2024 sales increased 43.18% from 44 in July 2023. Sales were lower by three properties compared with July two years ago. July sales were at their highest level in two years.
LIST TO SALE RATIO DOWN SLIGHTLY
The selling price of 98.26% of list price increased from 97.8% in June. The list to sale price ratio was unchanged compared with July one year ago. Cornelius home buyers saw a very small window of opportunity to negotiate on price in July.
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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:
“The Right Broker Makes All The Difference.”
PREVIOUS CORNELIUS REAL ESTATE REPORTS
Cornelius Real Estate Report June 2024
Cornelius Real Estate Report May 2024
Cornelius Real Estate Report April 2024
Cornelius Real Estate Report March 2024
