Is Elm City, 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, Elm City was a Seller's Market.
Key Takeaway
Elm City 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 Elm City, NC
How much do homes in Elm City, NC cost?
Median Sold Price
$192,500
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elm City have sold for 19.8% less than they did a year ago.
Summary: The median home sold price in Elm City was $192,500 in May 2024, down 19.8% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $70K | N/A |
| 2 Bedrooms | $112.8K | $162.5K | +44.0% |
| 3 Bedrooms | $246K | $192.5K | -21.7% |
| 4 Bedrooms | $250K | $393.2K | +57.3% |
| 5+ Bedrooms | $145K | $299.9K | +106.8% |
Summary: Elm City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 44%, 3 bedroom homes decreased by 21.7%, 4 bedroom homes increased by 57.3%, and 5+ bedroom homes increased by 106.8%.
Median Sold Price Compared To Nearby Cities
| Toisnot Township | $224.9K | $189.9K | -15.6% |
| Elm City | $240K | $192.5K | -19.8% |
Housing Supply in Elm City, NC
How many homes are available in Elm City, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Summary: The Elm City real estate market had 28 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elm City 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 remained the same, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elm City, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Elm City in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Elm City, NC
How long does it take to sell a home in Elm City, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 14 Days | -45.6% |
Summary: Homes in Elm City had an average of 14 days on market in May 2024, down by 45.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elm City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Elm City; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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