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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colfax is a seller's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in Colfax, NC cost?

Median Sold Price

$397,237

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$69,237(+21.1%)

Key Takeaway

Homes in Colfax have sold for 21.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 $250K$197.4K
-21.0%
3 $270K$303.8K
+12.5%
4 $380K$461K
+21.3%
5+ $372K$470K
+26.3%

Median Sold Price Compared To Nearby Cities

Colfax
+21.1%
Deep River Township
+20.7%
Kernersville
+19.2%
Kernersville Township
+16.2%
Oak Ridge
+14.7%

How many homes are available in Colfax, NC?

Number of Homes For Sale

Sep 2022Oct 2022%
1823+27.8%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 00
0.0%
3 47
+75.0%
4 1213
+8.3%
5+ 23
+50.0%

Number of Homes Sold

Sep 2022Oct 2022%
36+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colfax, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
107 Days30 Days-71.4%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Colfax, NC

Number of homes for sale in Colfax, NC real estate market have reached 23. The number of listings in Colfax, NC increased by 27.8% between September 2022 and October 2022. In October 2022 median list price was $397,237 and the average listing age was 30 days. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, the cost of 2 bedrooms properties went down by 21%, prices of 3 bedrooms properties went up by 12.5%, 4 bedrooms properties prices increased by 21.3%, prices of 5 bedrooms properties increased by 26.3%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, 2 bedrooms homes inventory did not change, volume of 3 bedrooms homes went up by 75%, 4 bedrooms homes became 8.3% more available, volume of 5 bedrooms homes went up by 50%. In October 2022 more than 3 listings in Colfax, NC were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 2 were sold below.

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