Is Elizabeth, 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, Elizabeth has remained a Seller's Market.
Key Takeaway
Elizabeth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elizabeth, NC
How much do homes in Elizabeth, NC cost?
Median Sold Price
$795,000
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elizabeth have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Elizabeth was $795,000 in May 2024, up 15.7% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $272.5K | $314.5K | +15.4% |
| 2 Bedrooms | $315K | $321.5K | +2.1% |
| 3 Bedrooms | $738.2K | $856.2K | +16.0% |
| 4 Bedrooms | $940.8K | $1.0M | +7.5% |
| 5+ Bedrooms | $919K | $1.2M | +38.7% |
Summary: Elizabeth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 38.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Elizabeth | $686.9K | $795K | +15.7% |
| Chantilly | $915K | $996.7K | +8.9% |
| Belmont | $681K | $652.5K | -4.2% |
| Commonwealth-Morning Side | $497.5K | $457.5K | -8.0% |
Housing Supply in Elizabeth, NC
How many homes are available in Elizabeth, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 23 | -30.3% |
Summary: The Elizabeth real estate market had 23 homes for sale in May 2024, a 30.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 17 | 9 | -47.1% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Elizabeth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 47.1%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 7 | -56.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elizabeth, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Elizabeth in May 2024, down by 56.3% month-over-month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Elizabeth, NC
How long does it take to sell a home in Elizabeth, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 19 Days | +751.0% |
Summary: Homes in Elizabeth had an average of 19 days on market in May 2024, up by 751% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elizabeth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Elizabeth; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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