Tag Archives: prices
2016 Cornelius Real Estate Market Review
2016 Cornelius Real Estate Market Review
With the start of the New Year, it’s now time to look back at the 2016 Cornelius real estate market and see what happened over the last 12 months.
The biggest highlight of the year is that 2016 marks the 8th straight year of recovery as the average sales price increased 8.7% from the 2015 average sales price and reached the highest level on record.
Total sales increased 12.7% to 551 in 2015. This is the highest total since 2006.
The average sales price, $513,984 increased 8.7% from 2015. Its the highest average sales price on record for Cornelius.
The median sales price, $350,000, increased 6.7% from 2015. I do not put much stock in median sales price as it is just the middle homes (#276) selling price and does not take into account location, size, etc.
The average price per square foot, $162, increased 3.8% from 2015 and was the 7th straight year with an increase. It was also the highest price per square foot on record!
The average days on the market increased slightly to 65, a 4.8% increase from 2014.
2017 Cornelius Real Estate Market Predictions
- Pricing should continue to have an upward trend but at a lower rate. I’m anticipating price increases of 2-4% for single family homes.
- Mortgage rates will head higher and will be closer to 5.25% by the end of 2017.
- 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 2016
Cornelius Waterfront Real Estate Stats for December 2016
Cornelius Waterfront Homes
In December 2016 8 Cornelius waterfront homes sold, a 100% increase from the 4 Cornelius waterfront homes sold in November. December 2016 waterfront sales figures increased 100% from December 2015 when 4 Cornelius waterfront homes sold.
The average sales price decreased 17% from $1,684,375 in November to $1,398,625 in December. The December 2016 average sales price decreased 5.5% from the December 2015 average sales price which was $1,480,000.
Average days on the market decreased from 228 in November to 224 in December, a .9% decrease in market time. The December 2015 average days on the market were 137, a 63.5% increase in market time.
Currently there are 49 active Cornelius waterfront homes listed in the MLS with 12 more under contract, up 9.1% from December. The average list price is $1,536,056 down .4% from December. The current lowest priced Cornelius waterfront home is listed at $599,900 and the current highest priced active Cornelius waterfront home is listed at $3,899,900.
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 2016 4 Cornelius waterfront condo or townhome sold in the Lake Norman area, a 20% decrease from the 5 Cornelius waterfront condos sold in November. December 2016 sales figures increased 100% from December 2015 when 2 Cornelius waterfront condos sold.
The average sales price decreased 1.4% from $237,900 in November to $234,500 in December. The December 2016 average sales price decreased 41.4% from the December 2015 average sales price which was $400,250.
Average days on the market decreased 38.9% from 54 in November to 33 in December. The December 2015 average days on the market were 58, a 43.1% decrease in market time from one year ago.
Currently there are 10 active Cornelius waterfront condos listed in the MLS with 6 more under contract, a 20% increase from December. The average list price is $345,468, up 2% from last month. The lowest priced active Cornelius waterfront condo is listed at $195,000 and the highest priced Cornelius waterfront condo is listed at $699,888.
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 2016 2 Cornelius waterfront lot sold in the Lake Norman area, a 60% decrease from the 5 Cornelius waterfront lots sold in November. December 2016 sales figures increased 200% from December 2015 when 0 Cornelius waterfront lots sold.
The December average sales price was $1,300,000, up 80.3% from the November average sales price which was $721,000. The average sales price increased N/A% from the December 2015 average sales price of $N/A.
The average days on the market decreased 49.6% from November, from 129 to 65 days on the market in December. Days on the market were up N/A% from December 2015 when the average was N/A days on the market.
Currently there are 13 active Cornelius waterfront lots listed in the MLS with 4 others under contract, up 33% from December. The average list price is 986,876, down 7.4% from last month. The lowest priced Cornelius waterfront lot is listed at $248,500 and the highest priced Cornelius waterfront lot is listed at $1,875,000.
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
