Is Colfax Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Colfax Township was a Seller's Market.
Key Takeaway
Colfax Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Colfax Township, NC
How much do homes in Colfax Township, NC cost?
Median Sold Price
$300,050
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Colfax Township have sold for 23.1% less than they did a year ago.
Summary: The median home sold price in Colfax Township was $300,050 in May 2024, down 23.1% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $52.5K | -70.8% |
| 2 Bedrooms | $200K | $176.9K | -11.6% |
| 3 Bedrooms | $262.5K | $281.2K | +7.1% |
| 4 Bedrooms | $430.6K | $474.9K | +10.3% |
| 5+ Bedrooms | $464.7K | $505K | +8.7% |
Summary: Colfax Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.8%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Cool Spring Township | $193.5K | $217K | +12.1% |
| High Shoals Township | $197.4K | $191.7K | -2.9% |
| Logan Store Township | $273K | $249K | -8.8% |
| Ellenboro | $217.4K | $181K | -16.8% |
| Colfax Township | $390K | $300K | -23.1% |
Housing Supply in Colfax Township, NC
How many homes are available in Colfax Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 49 | 0.0% |
Summary: The Colfax Township real estate market had 49 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 22 | 27 | +22.7% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Colfax Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 8 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colfax Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Colfax Township in May 2024, down by 50.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Colfax Township, NC
How long does it take to sell a home in Colfax Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 57 Days | +163.6% |
Summary: Homes in Colfax Township had an average of 57 days on market in May 2024, up by 163.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colfax Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Colfax Township; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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