2016 Mooresville Real Estate Market Stats
Mooresville Home Sales Statistics
Home sales in 2016 increased 5.5% from the 2015 totals, aided by low interest rates, Millennials entering the market and foreclosure recovery buyers reentering the market. It was the highest number of home sales, 1601, on record.
The average sales price increased 4.9% from the 2015 average sales price. The 2016 Mooresville average sales price was $369,495. This can be attributed to lower inventory creating higher demand and multiple offer situations.
The median sales price increased 4.2% from the 2015 median sales price. The 2016 median sales price, $280,100 was the highest ever for the Mooresville real estate market. I do not put much stock in median sales price as it is just the sales price of the middle (#801) home sold if arranged by sales price.
The average price per square foot in Mooresville, $129, increased 5.7% from 2015. It was the highest sales price per square foot since 2007.
The average days on the market in Mooresville, 71, decreased 7.8% from 2015 and was the lowest marketing time since 2008. It was the 5th straight year of decreased days on the market, a strong indication that the real estate market is at full recovery.
Low inventory continues to push prices up in every sector of the Mooresville real estate market. Low interest rates will continue to entice buyers off the fence. We are predicting similar gains this year but lower appreciation in the luxury markets.
If you would like to be updated on the Mooresville real estate market visit our website, MooresvilleHomePrices.com for automatic monthly market reports and daily new listing alerts and sold property notifications. Its free and it is all automated.