Is Elizabeth City, 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, Elizabeth City was a Seller's Market.
Key Takeaway
Elizabeth City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elizabeth City, NC
How much do homes in Elizabeth City, NC cost?
Median Sold Price
$291,250
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elizabeth City have sold for 9% more than they did a year ago.
Summary: The median home sold price in Elizabeth City was $291,250 in March 2024, up 9% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $131.5K | N/A |
| 2 Bedrooms | $165K | $152.5K | -7.6% |
| 3 Bedrooms | $238K | $277.2K | +16.5% |
| 4 Bedrooms | $360.9K | $355K | -1.6% |
| 5+ Bedrooms | $392.2K | $374K | -4.7% |
Summary: Elizabeth City 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 7.6%, 3 bedroom homes increased by 16.5%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Nixonton Township | $296.8K | $345K | +16.2% |
| Elizabeth City | $267.2K | $291.2K | +9.0% |
| Elizabeth City Township | $269.9K | $291.2K | +7.9% |
| Providence Township | $308.3K | $305K | -1.1% |
Housing Supply in Elizabeth City, NC
How many homes are available in Elizabeth City, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 338 | 379 | +12.1% |
Summary: The Elizabeth City real estate market had 379 homes for sale in March 2024, a 12.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 208 | 231 | +11.1% |
| 4 Bedrooms | 97 | 110 | +13.4% |
| 5+ Bedrooms | 20 | 21 | +5.0% |
Summary: The Elizabeth City 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 33.3%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 57 | -12.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elizabeth City, you may be able to get a good deal. 39.5% of homes here sold below asking price last month.
Summary: A total of 57 homes were sold or pending in Elizabeth City in March 2024, down by 12.3% month-over-month. Of the 38 sold homes, 39% were sold under asking, 37% were sold at asking, and 24% were sold over asking.
Days on Market for Elizabeth City, NC
How long does it take to sell a home in Elizabeth City, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 59 Days | +50.7% |
Summary: Homes in Elizabeth City had an average of 59 days on market in Mar 2024, up by 50.7% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elizabeth City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 57 homes were sold in Elizabeth City; 51% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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