Is Lake Lure, 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, Lake Lure has remained a Seller's Market.
Key Takeaway
Lake Lure is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Lure, NC
How much do homes in Lake Lure, NC cost?
Median Sold Price
$482,500
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Lure have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Lake Lure was $482,500 in May 2024, up 3.8% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $134.5K | $150K | +11.5% |
| 2 Bedrooms | $395K | $380K | -3.8% |
| 3 Bedrooms | $585K | $550K | -6.0% |
| 4 Bedrooms | $899K | $980K | +9.0% |
| 5+ Bedrooms | $1.3M | $1.5M | +19.2% |
Summary: Lake Lure housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Cities
| Chimney Rock Township | $450K | $492.5K | +9.4% |
| Lake Lure | $465K | $482.5K | +3.8% |
| Mill Spring | $496.5K | $469K | -5.5% |
Housing Supply in Lake Lure, NC
How many homes are available in Lake Lure, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 110 | +17.0% |
Summary: The Lake Lure real estate market had 110 homes for sale in May 2024, a 17.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 24 | 30 | +25.0% |
| 3 Bedrooms | 50 | 54 | +8.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Lake Lure housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 19 | +90.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Lure, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Lake Lure in May 2024, up by 90.0% month-over-month. Of the 19 sold homes, 74% were sold under asking, 16% were sold at asking, and 11% were sold over asking.
Days on Market for Lake Lure, NC
How long does it take to sell a home in Lake Lure, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 86 Days | +66.6% |
Summary: Homes in Lake Lure had an average of 86 days on market in May 2024, up by 66.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Lure are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Lake Lure; 58% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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