Is Erwin, 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, Erwin has remained a Seller's Market.
Key Takeaway
Erwin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Erwin, NC
How much do homes in Erwin, NC cost?
Median Sold Price
$240,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Erwin have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Erwin was $240,000 in May 2024, up 5.1% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $106.2K | - | N/A |
| 2 Bedrooms | $160K | $155.5K | -2.8% |
| 3 Bedrooms | $235.5K | $250K | +6.2% |
| 4 Bedrooms | $347.3K | $367.5K | +5.8% |
| 5+ Bedrooms | $760K | $490K | -35.5% |
Summary: Erwin 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 decreased by 2.8%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 35.5%.
Median Sold Price Compared To Nearby Cities
| Averasboro Township | $210K | $240K | +14.3% |
| Duke Township | $195K | $220K | +12.8% |
| Dunn | $235K | $255.6K | +8.8% |
| Dunn | $236.6K | $255.9K | +8.1% |
| Erwin | $228.4K | $240K | +5.1% |
Housing Supply in Erwin, NC
How many homes are available in Erwin, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 47 | +2.2% |
Summary: The Erwin real estate market had 47 homes for sale in May 2024, a 2.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 26 | 27 | +3.8% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Erwin 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 12.5%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 15 | +114.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Erwin, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Erwin in May 2024, up by 114.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 33% were sold at asking, and 27% were sold over asking.
Days on Market for Erwin, NC
How long does it take to sell a home in Erwin, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 111 Days | 80 Days | -27.5% |
Summary: Homes in Erwin had an average of 80 days on market in May 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Erwin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Erwin; 67% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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