Is Pearces Mill Township, 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, Pearces Mill Township has remained a Seller's Market.
Key Takeaway
Pearces Mill Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pearces Mill Township, NC
How much do homes in Pearces Mill Township, NC cost?
Median Sold Price
$210,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pearces Mill Township have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Pearces Mill Township was $210,000 in May 2024, up 10.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $136.5K | $124K | -9.2% |
| 3 Bedrooms | $185K | $206.5K | +11.6% |
| 4 Bedrooms | $240K | $247K | +2.9% |
| 5+ Bedrooms | $233.5K | $235K | +0.6% |
Summary: Pearces Mill Township 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 9.2%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Pearces Mill Township | $190K | $210K | +10.5% |
| Rockfish Township | $235K | $250.4K | +6.6% |
| Cross Creek Township | $208.8K | $220K | +5.3% |
| Hope Mills | $255K | $268.2K | +5.2% |
| Fayetteville | $214.6K | $225K | +4.9% |
Housing Supply in Pearces Mill Township, NC
How many homes are available in Pearces Mill Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 79 | 72 | -8.9% |
Summary: The Pearces Mill Township real estate market had 72 homes for sale in May 2024, a 8.9% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 48 | 45 | -6.3% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Pearces Mill Township 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 33.3%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pearces Mill Township, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Pearces Mill Township in May 2024, up by 20.0% month-over-month. Of the 24 sold homes, 33% were sold under asking, 21% were sold at asking, and 46% were sold over asking.
Days on Market for Pearces Mill Township, NC
How long does it take to sell a home in Pearces Mill Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 21 Days | -50.0% |
Summary: Homes in Pearces Mill Township had an average of 21 days on market in May 2024, down by 50% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pearces Mill Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 24 homes were sold in Pearces Mill Township; 83% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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