Is Mills River, 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, Mills River has remained a Seller's Market.
Key Takeaway
Mills River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mills River, NC
How much do homes in Mills River, NC cost?
Median Sold Price
$615,000
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mills River have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Mills River was $615,000 in May 2024, up 14.4% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $250K | -2.0% |
| 2 Bedrooms | $293.5K | $365K | +24.4% |
| 3 Bedrooms | $510K | $637K | +24.9% |
| 4 Bedrooms | $862.5K | $675K | -21.7% |
| 5+ Bedrooms | $810K | $1.1M | +39.8% |
Summary: Mills River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 24.9%, 4 bedroom homes decreased by 21.7%, and 5+ bedroom homes increased by 39.8%.
Median Sold Price Compared To Nearby Cities
| Horse Shoe | $450.1K | $601.5K | +33.6% |
| Mills River | $537.5K | $615K | +14.4% |
| Mills River Township | $445K | $473.6K | +6.4% |
| Arden | $470.5K | $456.8K | -2.9% |
| Etowah | $406K | $387.5K | -4.6% |
Housing Supply in Mills River, NC
How many homes are available in Mills River, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 44 | -2.2% |
Summary: The Mills River real estate market had 44 homes for sale in May 2024, a 2.2% decrease 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 26 | 26 | 0.0% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Mills River 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mills River, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Mills River in May 2024, the same as the previous month. Of the 8 sold homes, 38% were sold under asking, 63% were sold at asking, and 0% were sold over asking.
Days on Market for Mills River, NC
How long does it take to sell a home in Mills River, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 37 Days | +37.5% |
Summary: Homes in Mills River had an average of 37 days on market in May 2024, up by 37.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mills River are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Mills River; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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