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Mooresville Housing Market Trends

Market trends for Mooresville, NC vary depending on location. You’ll find more expensive homes west of I-77, which is the area along the shores of Lake Norman. The market trends show an increase of 1 percent in median home sales for the entire area for 2016, and the average price per square foot rose from $118 to $125 during the same period.

Market Inventory

The inventory available dictates the rise and fall of prices. If the area has less real estate inventory, homes will sell for more, and they’ll sell more quickly. This is known as a seller’s market. If the market is saturated with inventory, prices will be lower and it may take longer to sell your property. This is known as a buyer’s market.

To find out what the market is like, divide the number of sold homes in the past month by the number of active listings. Currently, Mooresville has about 620 active single family listings on the MLS. In May 2017, 146 transactions were closed. That means that there is about 4.25 months of inventory available, not including new construction. When you add new construction, the MLS shows 863 single family listings, giving you 5.9 months of inventory. If you don’t count new inventory, you are definitely in a seller’s market. However, if you add new inventory, the market is teetering toward being a buyer’s market.


When the market trend favors sellers because of the shortage of inventory, people are able to command and receive more for their homes. When following the market, if you see a lower inventory, you can be assured that prices are going up if they haven’t gone up already. This depends on how close to the start of the switch to a seller’s market you are looking. It may take a few months for pricing to catch up to the market trends if the market is swinging to a seller’s market.

The opposite is true when the market becomes saturated. If more people put their homes on the market, thus increasing inventory, prices will eventually – and sooner rather than later – drop, due to the competition in the market.

Current Statistics

Currently, according to, the median price of a home in Mooresville, NC is $352,000 and for new construction, about $114 per square foot. The median closing price is much smaller at $262,000. This could mean several things including a combination of more of the lower-priced homes selling or that buyers are not paying the list price for the property.

The are has some of the best schools, which could create an influx of people. Furthermore, Mooresville is growing. Furthermore, several companies are moving into the area and many already call the town home, including:

  • More than 60 NASCAR teams;
  • More than 100 race-related suppliers;
  • One INDY car team;
  • Lakeside Park;
  • Two wind tunnels;
  • Two automotive museums;
  • Ingersoll-Rand Company;
  • BestCo, Inc.;
  • NGK Ceramics USA Inc.; and
  • Penske Racing, Inc.

Additionally, several industrial parks are located east of I-77, ensuring that there are plenty of jobs for residents of Mooresville.

Contact On Point Carolinas Realty

If you are living in Mooresville, and you are considering selling your home, now is the time to take advantage of the market – you’ll get a higher price for your home and it will sell quicker. And, if you are interested in moving to the area, you’ll find that Mooresville has plenty of job opportunities. And, it’s only about 20 miles from Charlotte, where there are more opportunities. Contact our office to set up an appointment to list your home or to get a list of current homes for sale.

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About The Author
Gus Testa

Gus Testa, Top Realtor with On Point Carolinas Realty, LLC, has been in real estate sales and management since 1977. In 1993, after leaving family, friends and his owned real estate franchise firm behind, he and his wife Beth made the decision to “head South” with their 2 sons. Since that time there has been no looking back. Gus immediately began working for a local and well respected new home builder, building beautiful neighborhoods in and around the Charlotte area. In his first year of new home sales he was awarded “Rookie of the Year” for the highest volume of sales for the company. Then in 2002, it was time to move on and Gus joined major developer Crescent Resources as one of their Residential Sales Associates. From 2002 through 2012, Gus along with his business partner Kim McBee, continually sold several million dollars in volume and became very familiar with the movers and shakers in the Real Estate industry in and around the Lake Norman area, the Charlotte area and the Northern most portions of South Carolina. In 2013 Gus and Kim partnered with a local developer to open On Point Carolinas Realty, LLC; a full service real estate company, listing and selling new and re-sale homes and home sites. Gus holds licenses in both North and South Carolina.

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