Iredell County’s Real Estate Market Update for March 2023
Provided by Lisa Cernuto, Mooresville Realty
The Canopy Realtor® Association has provided a Local Market Update for March 2023 for Iredell County, North Carolina. The report includes key metrics such as new listings, pending sales, closed sales, median sales price, average sales price, percent of original list price received, list to close, days on market until sale, cumulative days on market until sale, average list price, inventory of homes for sale, and months supply of inventory.
In March 2023, there were 383 new listings, an increase of 3.8% from the previous year. Pending sales increased by 2.9% to 321, while closed sales decreased by 16.9% to 241. The median sales price also decreased by 2.9% to $366,500, while the average sales price increased by 2.3% to $484,047. The percent of original list price received decreased by 5.5% to 96.2%, and the list to close time increased by 45.7% to 102 days. The days on market until sale increased by 112.0% to 53 days, while the cumulative days on market until sale increased by 150.0% to 60 days. The average list price increased by 24.1% to $553,676, and the inventory of homes for sale increased by 109.5% to 509. The months supply of inventory also increased from 0.8 to 1.9, a 137.5% increase.
Looking at the year-to-date figures from January through March, there were 903 new listings, an increase of 6.7% compared to the previous year. Pending sales decreased by 2.9% to 796, while closed sales decreased by 24.8% to 594. The median sales price decreased by 1.0% to $365,750, while the average sales price increased slightly by 0.1% to $456,811. The percent of original list price received decreased by 5.1% to 95.2%, and the list to close time increased by 41.6% to 109 days. The days on market until sale increased by 92.6% to 52 days, while the cumulative days on market until sale increased by 119.2% to 57 days. The average list price increased by 9.4% to $506,794.
The report also includes a rolling 12-month calculation of median sales price, which shows a decrease of 16.9% in closed sales and a decrease of 2.9% in median sales price. The months supply of inventory for Iredell County was 1.9, indicating a seller’s market. The report is current as of April 5, 2023, and all data is from Canopy MLS, Inc. View the full report here.
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