Is Mars Hill, 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, Mars Hill has remained a Seller's Market.
Key Takeaway
Mars Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mars Hill, NC
How much do homes in Mars Hill, NC cost?
Median Sold Price
$420,995
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mars Hill have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in Mars Hill was $420,995 in May 2024, down 0.9% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $216K | $217.5K | +0.7% |
| 2 Bedrooms | $291.5K | $310K | +6.3% |
| 3 Bedrooms | $410K | $415K | +1.2% |
| 4 Bedrooms | $595K | $601.5K | +1.1% |
| 5+ Bedrooms | $650K | - | N/A |
Summary: Mars Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes did not change.
Housing Supply in Mars Hill, NC
How many homes are available in Mars Hill, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 67 | +6.3% |
Summary: The Mars Hill real estate market had 67 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mars Hill 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 decreased by 18.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mars Hill, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Mars Hill in May 2024, the same as the previous month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% were sold over asking.
Days on Market for Mars Hill, NC
How long does it take to sell a home in Mars Hill, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 68 Days | +52.9% |
Summary: Homes in Mars Hill had an average of 68 days on market in May 2024, up by 52.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mars Hill are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Mars Hill; 42% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.