Is Richlands, 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, Richlands has remained a Seller's Market.
Housing Prices in Richlands, NC
How much do homes in Richlands, NC cost?
Median Sold Price
$257,175
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richlands was $257,175 in May 2024, up 5.8% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $45K | - | N/A |
2 Bedrooms | $127.5K | $175K | +37.3% |
3 Bedrooms | $240K | $250K | +4.2% |
4 Bedrooms | $281K | $297K | +5.7% |
5+ Bedrooms | $315K | $381.8K | +21.2% |
Summary: Richlands 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 increased by 37.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 21.2%.
Median Sold Price Compared To Nearby Cities
Richlands Township | $245K | $260.5K | +6.4% |
Richlands | $243K | $257.1K | +5.8% |
Housing Supply in Richlands, NC
How many homes are available in Richlands, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
168 | 180 | +7.1% |
Summary: The Richlands real estate market had 180 homes for sale in May 2024, a 7.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 112 | 118 | +5.4% |
4 Bedrooms | 38 | 41 | +7.9% |
5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Richlands housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 45 | +45.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Richlands in May 2024, up by 45.2% month-over-month. Of the 45 sold homes, 22% were sold under asking, 67% were sold at asking, and 11% were sold over asking.
Days on Market for Richlands, NC
How long does it take to sell a home in Richlands, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 51 Days | +102.9% |
Summary: Homes in Richlands had an average of 51 days on market in May 2024, up by 102.9% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 45 homes were sold in Richlands; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.