Is Spruce Pine, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Spruce Pine was a Seller's Market.
Key Takeaway
Spruce Pine is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Spruce Pine, NC
How much do homes in Spruce Pine, NC cost?
Median Sold Price
$264,250
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Spruce Pine have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Spruce Pine was $264,250 in May 2024, up 5.7% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.5K | $157.5K | +5.4% |
| 2 Bedrooms | $225K | $225K | 0.0% |
| 3 Bedrooms | $250K | $261K | +4.4% |
| 4 Bedrooms | $260K | $392.5K | +51.0% |
| 5+ Bedrooms | $327.5K | $745K | +127.5% |
Summary: Spruce Pine housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 51%, and 5+ bedroom homes increased by 127.5%.
Median Sold Price Compared To Nearby Cities
| Grassy Creek Township | $252K | $270K | +7.1% |
| Spruce Pine | $250K | $264.2K | +5.7% |
Housing Supply in Spruce Pine, NC
How many homes are available in Spruce Pine, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 43 | +16.2% |
Summary: The Spruce Pine real estate market had 43 homes for sale in May 2024, a 16.2% 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Spruce Pine 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 increased by 42.9%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spruce Pine, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Spruce Pine in May 2024, down by 57.1% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Spruce Pine, NC
How long does it take to sell a home in Spruce Pine, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 96 Days | +328.3% |
Summary: Homes in Spruce Pine had an average of 96 days on market in May 2024, up by 328.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spruce Pine has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Spruce Pine; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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