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Sarah Mitchell
Compass Real Estate · ZIP 28031
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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28031 ZIP Code Housing Market
$630,500median sale price
What is the 28031 housing market like right now?
The median home sale price in ZIP code 28031 is $630,500, up 15.7% year-over-year. Homes sell in an average of 44 days with 247 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 28031 ZIP code a buyer's or seller's market?
ZIP code 28031 is currently a balanced market and homes selling in about 44 days. How we determine this →
What are the latest 28031 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $630,500 |
| Median list price | $625,000 |
| Year-over-year price change | +15.7% |
| Average days on market | 44 days |
| Active inventory | 247 listings |
| Sale-to-list price ratio | 98.0% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 28031 zip code, located in Cornelius, NC, is currently classified as a balanced market. The median sale price stands at $630,500, representing a +15.7% change year over year. Homes in this area spend an average of 44 days on the market before going under contract. There are currently 247 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 28031 sits in the Cornelius, NC area, roughly 0.7 miles from downtown Cornelius. Because home prices are set street by street, this ZIP can move differently from Cornelius's citywide averages. The figures below reflect 28031 specifically — drawn from Redfin transactions, U.S. Census data for its 31,733 residents, and Zillow value estimates.
Homes sold
156
Last 12 weeks
Days on market
44
Average pace
Active listings
247
Sale-to-list
98.0%
Below asking
What is driving the 28031 housing market?
The 28031 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 98.0% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 28031 have increased +15.7% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 28031 stands at $548,733, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,722 per month. This gives a price-to-rent ratio of approximately 26.6, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 28031?
Population
31,733
Median income
$113,368/yr
Median age
44.6 years
Owner-occupied
71.6%
College grads
62.4%
Avg commute
22.01 min
What is it like living in 28031?
Zip code 28031 is home to approximately 31,733 residents. The median household income is $113,368 per year, which shapes the types of homes and amenities available in the area. With a median age of 44.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 71.6% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 62.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 22.01 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 28031.
Which public schools serve ZIP 28031?
5 schools tracked · 5,472 students
The largest public schools serving ZIP code 28031 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
William Amos Hough High
Grades 9-12 · 2,503 students
Bailey Middle
Grades 6-8 · 1,325 students
J.V. Washam Elementary
Grades K-5 · 810 students
Cornelius Elementary
Grades K-5 · 556 students
Lakeside Charter Academy
Grades K-8 · 278 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 28031
What is the median home price in 28031?
The current median sale price in 28031 is $630,500, based on recent Redfin transaction data. Prices have changed +15.7% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 28031 a buyer's or seller's market?
The 28031 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 28031?
Zip code 28031 has a population of approximately 31,733 residents. The median household income is $113,368 per year. About 71.6% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 28031?
Properties Incorporated provides comprehensive data for 28031 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 28031 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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