Is Selma, 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, Selma has remained a Seller's Market.
Housing Prices in Selma, NC
How much do homes in Selma, NC cost?
Median Sold Price
$298,950
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Selma was $298,950 in May 2024, down 3.3% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $167.5K | $145.4K | -13.2% |
3 Bedrooms | $305K | $299.9K | -1.7% |
4 Bedrooms | $339.4K | $425K | +25.2% |
5+ Bedrooms | $307.4K | $715K | +132.6% |
Summary: Selma 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 13.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 25.2%, and 5+ bedroom homes increased by 132.6%.
Median Sold Price Compared To Nearby Cities
Pine Level Township | $295K | $298K | +1.0% |
Selma Township | $305.9K | $298K | -2.6% |
Selma | $309K | $298.9K | -3.3% |
Smithfield | $320K | $306.4K | -4.2% |
Wilson Mills Township | $351.6K | $330K | -6.2% |
Housing Supply in Selma, NC
How many homes are available in Selma, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
85 | 93 | +9.4% |
Summary: The Selma real estate market had 93 homes for sale in May 2024, a 9.4% increase 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 | 7 | 9 | +28.6% |
3 Bedrooms | 69 | 73 | +5.8% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Selma 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 increased by 28.6%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 23 | +76.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Selma in May 2024, up by 76.9% month-over-month. Of the 23 sold homes, 39% were sold under asking, 52% were sold at asking, and 9% were sold over asking.
Days on Market for Selma, NC
How long does it take to sell a home in Selma, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
131 Days | 35 Days | -73.1% |
Summary: Homes in Selma had an average of 35 days on market in May 2024, down by 73.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Selma; 70% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.