Is Colfax, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Colfax was a Seller's Market.
Key Takeaway
Colfax is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Colfax, NC
How much do homes in Colfax, NC cost?
Median Sold Price
$421,250
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Colfax have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Colfax was $421,250 in March 2024, up 5.3% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $279.9K | $215K | -23.2% |
| 3 Bedrooms | $285K | $307.5K | +7.9% |
| 4 Bedrooms | $461.2K | $454.4K | -1.5% |
| 5+ Bedrooms | $501.9K | $490.6K | -2.2% |
Summary: Colfax 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 decreased by 23.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Oak Ridge | $583K | $640K | +9.8% |
| Colfax | $400K | $421.2K | +5.3% |
| Oak Ridge Township | $559.9K | $587.5K | +4.9% |
| Deep River Township | $374.9K | $390K | +4.0% |
| Kernersville | $325K | $330.4K | +1.7% |
Housing Supply in Colfax, NC
How many homes are available in Colfax, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Summary: The Colfax real estate market had 22 homes for sale in March 2024, a 29.4% increase 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Colfax 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 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colfax, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Colfax in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Colfax, NC
How long does it take to sell a home in Colfax, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 323 Days | +725.6% |
Summary: Homes in Colfax had an average of 323 days on market in Mar 2024, up by 725.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Colfax are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 2 homes were sold in Colfax; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
