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 - 20 of 45   next

18507 Vineyard Point Lane -- 2 BR, 2.1 BA
Price: $635,000 (1679 sqft)
Complex: Vineyard Point
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Jim Nickerson | MLS # 3625963 | Active
21407 Catawba Avenue -- 2 BR, 2.1 BA
Price: $264,900 (1585 sqft)
Complex: Cornelius Live Work Townhomes
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Cyndi Newton | MLS # 3591095 | Active
19901 Henderson Road -- 2 BR, 2 BA
Price: $213,000 (1026 sqft)
Complex: Windward
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Jeannie Coyer | MLS # 3600264 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,550,000 (3062 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3567407 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,162,719 (3103 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3568192 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,162,719 (3062 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3559998 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,146,950 (3018 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3558362 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,146,950 (3018 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3567423 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,133,814 (3103 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3561970 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,123,814 (3103 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3568211 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,119,956 (3062 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3560001 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,109,814 (3058 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3555546 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,015,990 (3009 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3565475 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $1,015,990 (3009 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3556766 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $896,760 (2820 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3565424 | Active
19329 Watermark Drive -- 3 BR, 3.1 BA
Price: $896,760 (2820 sqft)
Complex: Watermark
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Premier Sothebys | MLS # 3556773 | Active
18015 Kings Pointe Drive -- 3 BR, 2 BA
Price: $493,000 (1511 sqft)
Complex: Baybridge
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Rosso Group LLC | MLS # 3416092 | Active
20347 Harborgate Court -- 3 BR, 2 BA
Price: $489,000 (1351 sqft)
Complex: Harborgate
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RE/MAX Executive | MLS # 3597093 | Active
Mt Zion Parkway -- 3 BR, 3 BA
Price: $475,000 (1915 sqft)
Complex: Cornelius Woods
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The Allen Team Inc | MLS # 3544766 | Active
20347 Harborgate Court -- 2 BR, 2 BA
Price: $379,900 (1258 sqft)
Complex: Harborgate
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Choquette Properties | MLS # 3584415 | Active

Listings 1 - 20 of 45   next

Lake Norman Area Active Adult Communities 55+

Listings 1 - 20 of 25   next

225 Stone Mountain Way -- 2 BR, 2.1 BA
Price: $725,000 (2881 sqft)
Subdivision: Trilogy Lake Norman
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David Henderson | MLS # 3596506 | Active
18339 Glenealy Drive -- 5 BR, 3 BA
Price: $639,900 (3498 sqft)
Subdivision: Baileys Glen
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South Creek Homes, LLC | MLS # 3613874 | Active
14012 Cameryn Elise Drive -- 3 BR, 2 BA
Price: $600,000 (2393 sqft)
Subdivision: Baileys Glen
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South Creek Homes, LLC | MLS # 3543673 | Active
333 Stone Mountain Way -- 3 BR, 3 BA
Price: $595,000 (2717 sqft)
Subdivision: Trilogy Lake Norman
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Lawrie Lawrence Real | MLS # 3594784 | Active
6719 Shoal Creek Drive -- 3 BR, 2.1 BA
Price: $595,000 (2417 sqft)
Subdivision: Trilogy Lake Norman
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Allen Tate Lake Norman | MLS # 3599358 | Active
207 Stone Mountain Way -- 3 BR, 2.1 BA
Price: $580,000 (2175 sqft)
Subdivision: Trilogy Lake Norman
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Mark Spain Real Estate | MLS # 3603666 | Active
4950 Looking Glass Trail -- 3 BR, 2 BA
Price: $555,000 (1924 sqft)
Subdivision: Trilogy Lake Norman
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Lake Norman Realty, | MLS # 3616602 | Active
8028 Parknoll Drive -- 4 BR, 4 BA
Price: $525,000 (3648 sqft)
Subdivision: The Courtyards of Huntersville
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Carolina Real Estate | MLS # 3607136 | Active
5567 Elk Knob Court -- 2 BR, 2 BA
Price: $485,000 (2201 sqft)
Subdivision: Trilogy Lake Norman
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Lake Norman Realty, | MLS # 3579268 | Active
12404 Meetinghouse Drive -- 3 BR, 2 BA
Price: $479,900 (2550 sqft)
Subdivision: Baileys Glen
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Realty ONE Group | MLS # 3557450 | Active
15114 Reese Finley Lane -- 3 BR, 3 BA
Price: $442,830 (2126 sqft)
Subdivision: Baileys Glen
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South Creek Homes, LLC | MLS # 3594694 | Active
139 Chimney Rock Court -- 2 BR, 2 BA
Price: $435,000 (1900 sqft)
Subdivision: Trilogy Lake Norman
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Lake Norman Realty, | MLS # 3584960 | Active
4807 Looking Glass Trail -- 2 BR, 2 BA
Price: $425,000 (1932 sqft)
Subdivision: Trilogy Lake Norman
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Puma & Associates | MLS # 3587846 | Active
4735 Looking Glass Trail -- 3 BR, 3.1 BA
Price: $419,900 (2238 sqft)
Subdivision: Trilogy Lake Norman
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Allen Tate | MLS # 3596662 | Active
6248 Raven Rock Drive -- 2 BR, 2 BA
Price: $414,541 (1866 sqft)
Subdivision: Trilogy Lake Norman
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Homes of the South Inc | MLS # 3523293 | Active
11123 Bailey Park Nature Drive -- 3 BR, 2 BA
Price: $399,000 (1930 sqft)
Subdivision: Baileys Glen
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JP & Associates, | MLS # 3621101 | Active
6220 Raven Rock Drive -- 3 BR, 2 BA
Price: $396,772 (1850 sqft)
Subdivision: Trilogy Lake Norman
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Shea Communities | MLS # 3616312 | Active
207 Flat Rock Drive -- 2 BR, 2 BA
Price: $349,000 (1595 sqft)
Subdivision: Trilogy Lake Norman
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Helen Adams Realty | MLS # 3591711 | Active
5063 Looking Glass Trail -- 2 BR, 2 BA
Price: $347,820 (1569 sqft)
Subdivision: Trilogy Lake Norman
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Shea Communities | MLS # 3614211 | Active
153 Flat Rock Drive -- 2 BR, 2 BA
Price: $345,000 (1600 sqft)
Subdivision: Trilogy Lake Norman
→ More info
Helen Adams Realty | MLS # 3617928 | Active

Listings 1 - 20 of 25   next

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!

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