Is Black Mountain, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Black Mountain is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Black Mountain was a Seller's Market.

Key Takeaway

Black Mountain is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Black Mountain, NC

How much do homes in Black Mountain, NC cost?

Median Sold Price

$515,520

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$70,570(+15.9%)

Key Takeaway

Homes in Black Mountain have sold for 15.9% more than they did a year ago.

Summary: The median home sold price in Black Mountain was $515,520 in March 2024, up 15.9% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $381.5K$350K
-8.3%
2 $366K$398K
+8.7%
3 $444.9K$492.5K
+10.7%
4 $605K$870K
+43.8%
5+ $807.5K$875K
+8.4%

Summary: Black Mountain housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes increased by 8.4%.

Median Sold Price Compared To Nearby Cities

Black Mountain
+15.9%
Black Mountain Township
+12.9%
Swannanoa
-1.6%

Housing Supply in Black Mountain, NC

How many homes are available in Black Mountain, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
8697+12.8%

Summary: The Black Mountain real estate market had 97 homes for sale in March 2024, a 12.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 32
-33.3%
2 1717
0.0%
3 4349
+14.0%
4 1214
+16.7%
5+ 1115
+36.4%

Summary: The Black Mountain housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 36.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2111-47.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Black Mountain, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Black Mountain in March 2024, down by 47.6% month-over-month. Of the 11 sold homes, 73% were sold under asking, 0% were sold at asking, and 27% were sold over asking.

Days on Market for Black Mountain, NC

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

Average Sale Time

Mar 2023Mar 2024CHANGE
39 Days55 Days+40.8%

Summary: Homes in Black Mountain had an average of 55 days on market in Mar 2024, up by 40.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 11 homes were sold in Black Mountain; 55% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 36% 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 18 Days Ago

Newest Listings in Black Mountain, NC

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