Is Farmington Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Farmington Township was a Seller's Market.
Housing Prices in Farmington Township, NC
How much do homes in Farmington Township, NC cost?
Median Sold Price
$368,250
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Farmington Township was $368,250 in April 2024, up 9.8% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | - | N/A |
2 Bedrooms | $172.5K | $186.9K | +8.4% |
3 Bedrooms | $329K | $375K | +14.0% |
4 Bedrooms | $426.5K | $622.5K | +46.0% |
5+ Bedrooms | $471K | $689K | +46.3% |
Summary: Farmington Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 46%, and 5+ bedroom homes increased by 46.3%.
Median Sold Price Compared To Nearby Cities
Bermuda Run | $240K | $271.7K | +13.2% |
Farmington Township | $335.5K | $368.2K | +9.8% |
Shady Grove Township | $400K | $418K | +4.5% |
Advance | $370K | $385.7K | +4.3% |
Mocksville Township | $263.4K | $260K | -1.3% |
Housing Supply in Farmington Township, NC
How many homes are available in Farmington Township, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 55 | 0.0% |
Summary: The Farmington Township real estate market had 55 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 17 | 14 | -17.6% |
3 Bedrooms | 24 | 18 | -25.0% |
4 Bedrooms | 10 | 18 | +80.0% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Farmington Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 80%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 9 | -40.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Farmington Township in April 2024, down by 40.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Farmington Township, NC
How long does it take to sell a home in Farmington Township, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
73 Days | 54 Days | -25.0% |
Summary: Homes in Farmington Township had an average of 54 days on market in Apr 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Farmington Township; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.