Is 27587, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 27587 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 27587 has remained a Seller's Market.

Key Takeaway

27587 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 27587, NC

How much do homes in 27587, NC cost?

Median Sold Price

$540,318

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$9,967(-1.8%)

Key Takeaway

Homes in 27587 have sold for 1.8% less than they did a year ago.

Summary: The median home sold price in 27587 was $540,318 in February 2024, down 1.8% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $272K$282K
+3.7%
2 $408.5K$349.8K
-14.4%
3 $425K$407.7K
-4.1%
4 $622.5K$637.6K
+2.4%
5+ $673.1K$655K
-2.7%

Summary: 27587 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes decreased by 14.4%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 2.7%.

Median Sold Price Compared To Nearby Zip Codes

27596
+2.2%
27614
0.5%
27571
-1.7%
27587
-1.8%
27616
-5.1%

Housing Supply in 27587, NC

How many homes are available in 27587, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
421432+2.6%

Summary: The 27587 real estate market had 432 homes for sale in February 2024, a 2.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1618
+12.5%
3 135154
+14.1%
4 177175
-1.1%
5+ 9385
-8.6%

Summary: The 27587 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 14.1%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 8.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5887+50.0%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 27587, you may be able to get a good deal. 54% of homes here sold below asking price last month.

Summary: A total of 87 homes were sold or pending in 27587 in February 2024, up by 50.0% month-over-month. Of the 87 sold homes, 54% were sold under asking, 29% were sold at asking, and 17% were sold over asking.

Days on Market for 27587, NC

How long does it take to sell a home in 27587, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
135 Days106 Days-21.2%

Summary: Homes in 27587 had an average of 106 days on market in Feb 2024, down by 21.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

43 Homes Were Sold
In 30 - 90 Days

39 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 27587 has remained consistent over time.

Summary: During February 2024, 87 homes were sold in 27587; 6% of homes were sold within 30 days, 49% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 27587, NC

Nearby Markets to 27587, NC