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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garner is a buyer's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Garner, NC

How much do homes in Garner, NC cost?

Median Sold Price

$400,971

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$5,710(+1.4%)

Key Takeaway

Homes in Garner have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Garner was $400,971 in September 2024, up 1.4% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$249.5K
N/A
2 $267.5K$289.8K
+8.4%
3 $354.5K$370K
+4.4%
4 $450K$453K
+0.7%
5+ $526K$541.7K
+3.0%

Summary: Garner housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 3%.

Median Sold Price Compared To Nearby Cities

Raleigh
+6.1%
Swift Creek Township
+4.6%
Saint Marys Township
+2.7%
Garner
+1.4%
Panther Branch Township
0.0%

Housing Supply in Garner, NC

How many homes are available in Garner, NC?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
241243+0.8%

Summary: The Garner real estate market had 243 homes for sale in September 2024, a 0.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 1515
0.0%
3 122129
+5.7%
4 8379
-4.8%
5+ 2019
-5.0%

Summary: The Garner housing inventory by bedroom type for September 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 5.7%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6333-47.6%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garner, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Garner in September 2024, down by 47.6% month-over-month. Of the 33 sold homes, 52% were sold under asking, 18% were sold at asking, and 30% were sold over asking.

Days on Market for Garner, NC

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

Average Sale Time

Sep 2023Sep 2024CHANGE
62 Days41 Days-33.3%

Summary: Homes in Garner had an average of 41 days on market in Sep 2024, down by 33.3% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Garner are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 33 homes were sold in Garner; 48% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 3% 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 30 Days Ago

Newest Listings in Garner, NC

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