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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Drexel is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Drexel, NC

How much do homes in Drexel, NC cost?

Median Sold Price

$214,500

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$5,000(+2.4%)

Key Takeaway

Homes in Drexel have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Drexel was $214,500 in March 2024, up 2.4% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $163K$170K
+4.3%
3 $207.5K$233.5K
+12.5%
4 $340K$283K
-16.8%
5+ $315K$311.5K
-1.1%

Summary: Drexel 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 increased by 4.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 16.8%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Cities

Valdese
+6.4%
Morganton Township
+4.4%
Drexel
+2.4%
Drexel Township
+2.2%

Housing Supply in Drexel, NC

How many homes are available in Drexel, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
611+83.3%

Summary: The Drexel real estate market had 11 homes for sale in March 2024, a 83.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 26
+200.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Drexel 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 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Drexel, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Drexel in March 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Drexel, NC

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

Average Sale Time

Mar 2023Mar 2024CHANGE
38 Days226 Days+490.8%

Summary: Homes in Drexel had an average of 226 days on market in Mar 2024, up by 490.8% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Drexel are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 1 homes were sold in Drexel; 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.

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

Report Updated 24 Days Ago

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