Tag Archives: home prices
2015 Cornelius Real Estate Market Review
With the start of the New Year, it’s now time to look back at the 2015 Cornelius real estate market and see what happened over the last 12 months.
The biggest highlight of the year is that 2015 marks the 7th straight year of recovery as the median sales price increased 4.4% from the 2014 median sales price. And the average price per square foot increased for the 6th consecutive year.
Total sales dropped 6.7% to 489 in 2015. Limited inventory was the main reason as interest rates continued to stay near record lows.
The average sales price, $472,718 dropped 6.7% from 2014.
The median sales price, $327,900, increased 4.4% from 2014.
The average price per square foot, $156, increased 3.3% from 2014 and was the 6th straight year with an increase. It was also the highest price per square foot over the last 10 years!
The average days on the market fell to 62, a 15.1% decrease from 2014. It decreased for the 5th year in a row and is the lowest since 2008.
2016 Cornelius Real Estate Market Predictions
- Pricing should have an upward trend. I’m anticipating price increases of 1-3% for single family homes.
- Mortgage rates will head higher and will be closer to 5% by the end of 2016.
- A higher number of millennials (born between 1981 and 2000) will enter the real estate market.
- There will be a rise in new construction starts this year.
- There will be fewer Short Sales and Foreclosures on the market.
- Market rents will increase, especially long term rental rates.
Please feel free to call or email me anytime to discuss market conditions in your neighborhood as I would love to talk and provide you with additional insight, discuss listing your property or talk about purchasing real estate in Cornelius and the Lake Norman area.
Stay up to date on the Cornelius real estate market with our free market snapshot reports: Free Cornelius Real Estate Market Updates
Cornelius Waterfront Real Estate Market Update December 2015
December 2015 Cornelius Waterfront Real Estate Update
Cornelius Waterfront Homes
In December 2015 4 Cornelius waterfront homes sold, a 20% decrease from the 5 Cornelius waterfront homes sold in November 2015. December 2015 waterfront sales figures decreased 42.9% from December 2014 when 7 Cornelius waterfront homes sold.
The average sales price increased 73.5% from $853,100 in November to $1,480,000 in December 2015. The December 2015 average sales price increased 7.5% from the December 2014 average sales price which was $1,376,786.
Average days on the market decreased from 84 in November to 137 in December 2015, a 63.1% increase in market time. December 2014 average days on the market were 121, a 13.2% increase in market time.
Currently there are 58 Cornelius waterfront homes listed in the MLS with 15 of those under contract, down 14.7% from December. The average list price is $1,863,452 up 2.4% from December. The current lowest priced Cornelius waterfront home is listed at $429,000 and the current highest priced Cornelius waterfront home is listed at $4,399,000.
Use our free listing service to see the current Cornelius waterfront homes for sale: Cornelius waterfront homes for sale
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Cornelius Waterfront Condos & Townhomes
In December 2015 2 Cornelius waterfront condos or townhomes sold in the Lake Norman area, a 33% decrease from the 3 Cornelius waterfront condos sold in November 2015. December 2015 sales figures increased 100% from December 2014 when 1 Cornelius waterfront condos sold.
The average sales price increased 106% from $194,167 in November to $400,250 in December 2015. December 2015 average sales price decreased 18.3% from the December 2014 average sales price which was $490,000.
Average days on the market decreased 26.6% from 79 in November to 58 in December 2015. December 2014 average days on the market were 1, a 5700% increase in market time.
Currently there are 27 Cornelius waterfront condos listed in the MLS with 2 of those under contract, a 100% increase from December. The average list price is $292,948, up 3% from last month. The lowest priced activeCornelius waterfront condo is listed at $152,000 and the highest priced Cornelius waterfront condo is listed at $729,000.
Use our free listing service to see the current Lake Norman waterfront condos for sale in Cornelius: Cornelius waterfront condos for sale
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Cornelius Waterfront Lots
In December 2015 0 Cornelius waterfront lot sold in the Lake Norman area, a 100% decrease from the 1 Cornelius waterfront lots sold in November. The average sales price was $N/A, down 100% from the November average sales price which was $800,000. December 2015 sales figures decreased 100% from December 2014 when 3 Cornelius waterfront lot sold. The average sales price decreased 100% from the December 2014 average sales price of $586,333.
The average days on the market decreased N/A% from November, from 123 to N/A days on the market in December. Days on the market were up N/A% from December 2014 when the average was 192 days on the market.
Currently there are 16 Cornelius waterfront lots listed in the MLS with 0 of those under contract, down 0% from December. The average list price is $968,494, up 5.4% from last month. The lowest priced Cornelius waterfront lot is listed at $375,000 and the highest priced Cornelius waterfront lot is listed at $1,650,000.
Use our free listing service to see the current Lake Norman waterfront lots for sale in Cornelius: Cornelius waterfront lots for sale
Stay up to date on the Cornelius real estate market with our free market snapshot reports: Free Cornelius Real Estate Market Updates
