Is 27407, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 27407 has remained a Seller's Market.
Key Takeaway
27407 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 27407, NC
How much do homes in 27407, NC cost?
Median Sold Price
$259,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 27407 have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in 27407 was $259,000 in March 2024, up 12.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $96.4K | - | N/A |
| 2 Bedrooms | $166K | $183.5K | +10.5% |
| 3 Bedrooms | $227K | $250.5K | +10.4% |
| 4 Bedrooms | $360.5K | $362.7K | +0.6% |
| 5+ Bedrooms | $442.5K | $413K | -6.7% |
Summary: 27407 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 6.7%.
Housing Supply in 27407, NC
How many homes are available in 27407, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 118 | 117 | -0.8% |
Summary: The 27407 real estate market had 117 homes for sale in March 2024, a 0.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 29 | 30 | +3.4% |
| 3 Bedrooms | 57 | 55 | -3.5% |
| 4 Bedrooms | 28 | 27 | -3.6% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 27407 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 40 | +42.9% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 27407, you may be able to get a good deal. 57.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in 27407 in March 2024, up by 42.9% month-over-month. Of the 40 sold homes, 57% were sold under asking, 15% were sold at asking, and 28% were sold over asking.
Days on Market for 27407, NC
How long does it take to sell a home in 27407, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 40 Days | +38.0% |
Summary: Homes in 27407 had an average of 40 days on market in Mar 2024, up by 38% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 27407 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 40 homes were sold in 27407; 60% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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