Is Commonwealth Park, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Commonwealth Park has remained a Seller's Market.
Key Takeaway
Commonwealth Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Commonwealth Park, NC
How much do homes in Commonwealth Park, NC cost?
Median Sold Price
$612,500
$344/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Commonwealth Park have sold for 5.6% more than they did a month ago.
Summary: The median home sold price in Commonwealth Park was $612,500 in April 2024, up 5.6% from last month, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $255K | N/A |
| 3 Bedrooms | $580K | $668.5K | +15.3% |
| 4 Bedrooms | - | $615K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Commonwealth Park housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Commonwealth Park | $580K | $612.5K | +5.6% |
| Cambridge Townhome Apartments | $279.9K | $282.5K | +0.9% |
Housing Supply in Commonwealth Park, NC
How many homes are available in Commonwealth Park, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Summary: The Commonwealth Park real estate market had 10 homes for sale in April 2024, a 9.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Commonwealth Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Commonwealth Park, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Commonwealth Park in April 2024, up by 200.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Commonwealth Park, NC
How long does it take to sell a home in Commonwealth Park, NC?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 23 Days | +64.3% |
Summary: Homes in Commonwealth Park had an average of 23 days on market in Apr 2024, up by 64.3% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Commonwealth Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Commonwealth Park; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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