Is 28031, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 28031 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 28031 has remained a Seller's Market.

Key Takeaway

28031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 28031, NC

How much do homes in 28031, NC cost?

Median Sold Price

$522,653

$268/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$35,340(+7.3%)

Key Takeaway

Homes in 28031 have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in 28031 was $522,653 in March 2024, up 7.3% from last year, and the median price per square foot was $268.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $194.2K$403K
+107.5%
2 $325K$320K
-1.5%
3 $450K$500K
+11.1%
4 $655K$757.6K
+15.7%
5+ $1.2M$1.5M
+21.6%

Summary: 28031 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 107.5%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 21.6%.

Median Sold Price Compared To Nearby Zip Codes

28031
+7.3%
28117
+6.4%
28078
+5.4%
28036
+3.7%
28037
-3.3%

Housing Supply in 28031, NC

How many homes are available in 28031, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
155158+1.9%

Summary: The 28031 real estate market had 158 homes for sale in March 2024, a 1.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 3532
-8.6%
3 5957
-3.4%
4 3948
+23.1%
5+ 2221
-4.5%

Summary: The 28031 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 decreased by 8.6%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 4.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3642+16.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 28031, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in 28031 in March 2024, up by 16.7% month-over-month. Of the 42 sold homes, 45% were sold under asking, 31% were sold at asking, and 24% were sold over asking.

Days on Market for 28031, NC

How long does it take to sell a home in 28031, NC?

Average Sale Time

Mar 2023Mar 2024CHANGE
30 Days61 Days+101.0%

Summary: Homes in 28031 had an average of 61 days on market in Mar 2024, up by 101% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 28031 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 42 homes were sold in 28031; 69% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 17% 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 25 Days Ago

Newest Listings in 28031, NC

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