Is Black Mountain, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Black Mountain has remained a Seller's Market.
Key Takeaway
Black Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Black Mountain, NC
How much do homes in Black Mountain, NC cost?
Median Sold Price
$530,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Black Mountain have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in Black Mountain was $530,000 in May 2024, up 19.9% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $381.5K | $442.5K | +16.0% |
| 2 Bedrooms | $360K | $413.5K | +14.9% |
| 3 Bedrooms | $444.9K | $494.3K | +11.1% |
| 4 Bedrooms | $620K | $876.1K | +41.3% |
| 5+ Bedrooms | $845K | $962.5K | +13.9% |
Summary: Black Mountain housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 41.3%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Cities
| Black Mountain | $441.9K | $530K | +19.9% |
| Black Mountain Township | $449.5K | $530K | +17.9% |
| Swannanoa | $388.5K | $395K | +1.7% |
Housing Supply in Black Mountain, NC
How many homes are available in Black Mountain, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 99 | 112 | +13.1% |
Summary: The Black Mountain real estate market had 112 homes for sale in May 2024, a 13.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 15 | 20 | +33.3% |
| 3 Bedrooms | 54 | 56 | +3.7% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Black Mountain housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Black Mountain, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Black Mountain in May 2024, down by 12.5% month-over-month. Of the 21 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Black Mountain, NC
How long does it take to sell a home in Black Mountain, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 39 Days | +156.9% |
Summary: Homes in Black Mountain had an average of 39 days on market in May 2024, up by 156.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Black Mountain are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Black Mountain; 62% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.