Is King, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, King has remained a Seller's Market.

Key Takeaway

King is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in King, NC

How much do homes in King, NC cost?

Median Sold Price

$275,500

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$9,500(-3.3%)

Key Takeaway

Homes in King have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in King was $275,500 in May 2024, down 3.3% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $127.5K$116K
-9.0%
2 $239.9K$200K
-16.6%
3 $275K$250K
-9.1%
4 $376.9K$370K
-1.8%
5+ $404.9K$402.4K
-0.6%

Summary: King housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9%, 2 bedroom homes decreased by 16.6%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 0.6%.

Median Sold Price Compared To Nearby Cities

Tobaccoville
+14.5%
Old Richmond Township
+6.5%
Bethania Township
+1.2%
King
-3.3%
Yadkin Township
-6.9%

Housing Supply in King, NC

How many homes are available in King, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6167+9.8%

Summary: The King real estate market had 67 homes for sale in May 2024, a 9.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 3441
+20.6%
4 1718
+5.9%
5+ 32
-33.3%

Summary: The King 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 14.3%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1118+63.6%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in King, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in King in May 2024, up by 63.6% month-over-month. Of the 18 sold homes, 61% were sold under asking, 22% were sold at asking, and 17% were sold over asking.

Days on Market for King, NC

How long does it take to sell a home in King, NC?

Average Sale Time

May 2023May 2024CHANGE
42 Days38 Days-8.6%

Summary: Homes in King had an average of 38 days on market in May 2024, down by 8.6% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in King are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 18 homes were sold in King; 72% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in King, NC

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