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The Cornelius real estate market, though competitive, offers a diverse range of properties in a picturesque community. In August 2023, the market saw a slight decline, with the median sale price dropping to $472,000, marking a 5.6% decrease from the previous year. Additionally, the median sale price per square foot stands at $294, down by 0.34% from the previous year, reflecting the nuanced dynamics of the market.
As of August 2023, Cornelius homes are taking slightly longer to sell, averaging 12 days on the market compared to 8 days in the previous year. Despite the increased duration, the market remains competitive, with some homes receiving multiple offers. On average, properties are selling for approximately 1% below the list price. Particularly sought-after homes are swiftly going pending within a mere 4 days, underscoring the demand for well-priced and appealing properties in Cornelius.
Cornelius is witnessing a dynamic influx of homebuyers and residents. In the recent quarter, 20% of homebuyers explored opportunities outside Cornelius, while 80% opted to remain within the metropolitan area, highlighting the local appeal of the community.
Analyzing the sources of newcomers, 2% of homebuyers nationwide expressed an interest in relocating to Cornelius from outside metropolitan areas. Notably, residents from San Francisco led the trend, with a significant number making the move, followed closely by individuals from Los Angeles and Seattle.
For those departing Cornelius, 80% chose to remain within the metropolitan area, indicating a preference for the local lifestyle. Bend emerged as the most popular destination among departing residents, showcasing its allure, followed by Astoria and Phoenix.
In essence, Cornelius' real estate market exhibits a blend of competitiveness and opportunity. While prices have experienced a slight dip, the market remains vibrant, attracting both local and national interest. The migration patterns signify a dynamic community, with residents making informed choices about their living environments, further enriching the diversity and appeal of Cornelius.*
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