Senior Living

Housing Options for Seniors in Cornelius Who Are Downsizing

Cornelius, NC Real Estate Townhomes for Sale – for Seniors

Housing-Options-for-Seniors-in-Cornelius-Who-Are-Downsizing

Housing Options for Seniors in Cornelius Who Are Downsizing:

The Census Bureau estimates that nearly 10,000 baby boomers turn 65 every day. America’s senior population has hit 50 million and in Cornelius, North Carolina, 10% of the population is comprised of mature adults. Sooner or later, most of these people will look to downsize and if that is something that’s on the agenda for your parents or loved ones, there is plenty of help available to find an appropriate home.

The Housing Market in Cornelius, North Carolina

Trulia reports that the housing price trends in Cornelius show a 5% year-on-year rise. The average median sales price of a house is $276,000 while the price per square foot is $165. Rents have also increased by 2% annually, with the average rent at $1625. The median income of a senior household is at $51,246 according to stats from Census Bureau. It is safe to infer that seniors in Cornelius Single Family Homes have the financial capability to buy a property and this is supported by evidence that home ownership is high among senior households. However, roughly 12% of older households still rent and the average social security income is just over $20,000 a year, which is 50% less than the median income. There is still a significant number of seniors that rely on incomes of less than 10-20k per year.

Can Seniors Afford to Buy a Smaller Property?

With 88% of senior households owning homes, it is reasonable to assume that they can sell their property at a good price and have enough to buy something smaller, such as Cornelius, NC Townhomes and Condos for Sale. The median price of a home in Cornelius represents one of the highest in the state of North Carolina. Under the assumption that a senior will be able to sell their home at the going median price or more, we can infer that they will be able to relocate to a smaller property. Most will probably opt for the convenience of living in an apartment or a townhouse which is smaller in size, cheaper to maintain and has amenities for seniors such as lifts and ramps. The average size of an apartment in the US is 889 square feet which puts its value at roughly $160,000 – which is more than the selling price of a Cornelius home. The elderly have several choices whether to swap their home for retirement communities or live in smaller houses. Adult communities will cost between 200-400k while small houses start at 150k.

Real Estate in Cornelius is booming with prices increasing steadily. Seniors who own a home will be able to sell their property at good prices, buy a smaller place to live and still have something left over. However, for those who are renting, prices are also increasing each year and those living on lower annual incomes will probably find it difficult to buy a property.

Housing Options for Seniors in Cornelius Who Are Downsizing has another great option on the greater Lake Norman area along with Cornelius are Active Adult Communities 55+  Subdivisions.  Some located in Cornelius is Baileys Glen Homes 55+, The Courtyards on Lake Norman and The Courtyards at Jetton.  All of these homes are Ranch built homes and just 2-3 bedrooms, but many have full service amenities on property, such as Pool, Community Center, Recreational areas, Games, Gyms and much much more.

See below for local 55+ Active Adult Homes for Sale

Cornelius, NC Townhomes and Condos for Sale

Cornelius condos

Listings 1 - 17 of 17

18615 Vineyard Point Lane -- 3 BR, 2 BA
Price: $569,900 (1264 sqft)
Complex: Vineyard Point
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Michael Toste | MLS # 3683630 | Active
18816 Nautical Drive -- 3 BR, 2 BA
Price: $399,000 (1333 sqft)
Complex: Admirals Quarters
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Paul Yancey | MLS # 3685657 | Active
18730 Nautical Drive -- 2 BR, 2 BA
Price: $249,900 (1016 sqft)
Complex: Cypress Point
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Debi Gallo | MLS # 3682735 | Active
18716 Nautical Drive -- 3 BR, 2.1 BA
Price: $749,900 (1847 sqft)
Complex: Commodores Landing
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Allen Tate Lake Norman | MLS # 3670368 | Active
17810 Half Moon Lane -- 3 BR, 2 BA
Price: $489,000 (1464 sqft)
Complex: Half Moon Bay
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Coldwell Banker Realty | MLS # 3654503 | Active
1 Mt Zion Parkway -- 3 BR, 3 BA
Price: $475,900 (2047 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676528 | Active
Mt Zion Parkway -- 2 BR, 2 BA
Price: $460,900 (2047 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676519 | Active
19509 Crosstrees Lane -- 3 BR, 2.1 BA
Price: $399,000 (2022 sqft)
Complex: Harborside Townhomes
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Keller Williams | MLS # 3678616 | Active
18817 Silver Quay Drive -- 3 BR, 2.1 BA
Price: $305,700 (1570 sqft)
Complex: Silver Quay
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JM Wheeler | MLS # 3625540 | Active
9015 Rosalyn Glen Road -- 3 BR, 2 BA
Price: $295,000 (1879 sqft)
Complex: Edinburgh Square
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Lantern Realty & | MLS # 3680883 | Active
9111 Washam Potts Road -- 3 BR, 2.2 BA
Price: $269,999 (1901 sqft)
Complex: Oakhurst
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Han Realty | MLS # 3670108 | Active
19408 E Battery Street -- 3 BR, 2.1 BA
Price: $269,900 (1355 sqft)
Complex: St Philip Square
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LKN Property Pros LLC | MLS # 3679505 | Active
1 Mt Zion Parkway -- 2 BR, 2 BA
Price: $262,900 (1167 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676565 | Active
18805 Cloverstone Circle -- 2 BR, 2 BA
Price: $239,900 (1280 sqft)
Complex: Edinburgh Square
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Crites Properties LLC | MLS # 3685993 | Active
Mt Zion Parkway -- 1 BR, 1 BA
Price: $217,900 (966 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3676550 | Active
18801 Nautical Drive -- 2 BR, 2 BA
Price: $201,990 (1026 sqft)
Complex: Admirals Quarters
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EXP REALTY LLC | MLS # 3687907 | Active
18817 Nautical Drive -- 2 BR, 2 BA
Price: $199,500 (965 sqft)
Complex: Admirals Quarters
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Keller Williams | MLS # 3674713 | Active

Listings 1 - 17 of 17

Lake Norman Area Active Adult Communities 55+

Listings 1 - 18 of 18

14012 Cameryn Elise Drive -- 3 BR, 2 BA
Price: $645,000 (2393 sqft)
Subdivision: Baileys Glen
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South Creek Homes, LLC | MLS # 3543673 | Active
6448 Iron Wind Drive -- 3 BR, 3 BA
Price: $546,686 (2372 sqft)
Subdivision: Trilogy Lake Norman
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Shea Communities | MLS # 3687657 | Active
8032 Parknoll Drive -- 3 BR, 3 BA
Price: $487,000 (2769 sqft)
Subdivision: The Courtyards of Huntersville
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Hendrix Properties | MLS # 3661640 | Active
5071 Looking Glass Trail -- 3 BR, 2.1 BA
Price: $481,339 (2195 sqft)
Subdivision: Trilogy Lake Norman
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Shea Communities | MLS # 3681941 | Active
5567 Elk Knob Court -- 2 BR, 2 BA
Price: $465,000 (2201 sqft)
Subdivision: Trilogy Lake Norman
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Lake Norman Realty, | MLS # 3579268 | Active
508 Granite Lake Court -- 2 BR, 2 BA
Price: $460,000 (1758 sqft)
Subdivision: Trilogy Lake Norman
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Era Z Realty | MLS # 3662686 | Active
221 Stone Mountain Way -- 2 BR, 2 BA
Price: $455,000 (1762 sqft)
Subdivision: Carolina Ridge
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Mark Spain Real Estate | MLS # 3687589 | Active
8023 Parknoll Drive -- 3 BR, 3 BA
Price: $439,500 (2205 sqft)
Subdivision: The Courtyards of Huntersville
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EXP REALTY LLC | MLS # 3664097 | Active
5137 Looking Glass Trail -- 3 BR, 2 BA
Price: $401,102 (1850 sqft)
Subdivision: Trilogy Lake Norman
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Shea Communities | MLS # 3682083 | Active
4119 Woodland View Drive -- 2 BR, 2 BA
Price: $385,407 (1772 sqft)
Subdivision: Cresswind
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McLendon Real Estate | MLS # 3681746 | Active
14937 Dewpoint Place -- 2 BR, 2 BA
Price: $385,000 (1771 sqft)
Subdivision: The Courtyards of Huntersville
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Dickens Mitchener & | MLS # 3627446 | Active
4715 Looking Glass Trail -- 2 BR, 2 BA
Price: $375,000 (1645 sqft)
Subdivision: Trilogy Lake Norman
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Helen Adams Realty | MLS # 3673914 | Active
6131 Raven Rock Drive -- 2 BR, 2 BA
Price: $369,900 (1696 sqft)
Subdivision: Trilogy Lake Norman
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EXP REALTY LLC | MLS # 3619011 | Active
18203 Ebenezer Drive -- 3 BR, 2 BA
Price: $364,900 (1458 sqft)
Subdivision: Baileys Glen
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Realty Boutique | MLS # 3666958 | Active
207 Flat Rock Drive -- 2 BR, 2 BA
Price: $339,000 (1595 sqft)
Subdivision: Trilogy Lake Norman
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Helen Adams Realty | MLS # 3591711 | Active
5259 Looking Glass Trail -- 2 BR, 2 BA
Price: $337,500 (1473 sqft)
Subdivision: Trilogy Lake Norman
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EXP REALTY LLC | MLS # 3677279 | Active
322 Flat Rock Drive -- 2 BR, 2 BA
Price: $289,900 (1377 sqft)
Subdivision: Trilogy Lake Norman
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Keller Williams | MLS # 3671453 | Active
109 Oak Village Parkway -- 2 BR, 2 BA
Price: $255,000 (1312 sqft)
Subdivision: The Villages at Oak Tree
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Lake Norman Realty, | MLS # 3678478 | Active

Listings 1 - 18 of 18

THE MARTIN REAL ESTATE TEAM OF LAKE NORMAN

The Martin Real Estate Team is here to help and answer all of your Real Estate Needs and Questions 7 days a week.

Questions, or would you like to receive more information about a Buying a Home for Sale, or interested in Listing your Home for Sale, simply fill out the Our Contact Form or for a faster response you can also call the Cornelius / Lake Norman / Charlotte Real Estate Specialists at 704-900-1619 right now!

See Also: Cornelius, NC Real Estate Blogmartin-real-estate-team-of lake-norman

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