Is Elm 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, Elm City was a Seller's Market.
Key Takeaway
Elm City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elm City, NC
How much do homes in Elm City, NC cost?
Median Sold Price
$238,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elm City have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Elm City was $238,000 in March 2024, up 7.7% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $70K | N/A |
| 2 Bedrooms | $88.7K | $170K | +91.7% |
| 3 Bedrooms | $240K | $235K | -2.1% |
| 4 Bedrooms | $220K | $393.2K | +78.8% |
| 5+ Bedrooms | $145K | $299.9K | +106.8% |
Summary: Elm 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 increased by 91.7%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 78.8%, and 5+ bedroom homes increased by 106.8%.
Median Sold Price Compared To Nearby Cities
| Toisnot Township | $190K | $219.9K | +15.7% |
| Elm City | $221K | $238K | +7.7% |
Housing Supply in Elm City, NC
How many homes are available in Elm City, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 22 | +83.3% |
Summary: The Elm City real estate market had 22 homes for sale in March 2024, a 83.3% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 22 | +83.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elm 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 remained the same, 3 bedroom homes increased by 83.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 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 Elm City, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Elm City in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Elm City, NC
How long does it take to sell a home in Elm City, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 19 Days | -36.7% |
Summary: Homes in Elm City had an average of 19 days on market in Mar 2024, down by 36.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elm City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Elm City; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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