Is Hope Mills, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hope Mills is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Hope Mills has remained a Seller's Market.

Key Takeaway

Hope Mills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hope Mills, NC

How much do homes in Hope Mills, NC cost?

Median Sold Price

$268,250

$144/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$13,250(+5.2%)

Key Takeaway

Homes in Hope Mills have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Hope Mills was $268,250 in May 2024, up 5.2% from last year, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $140K$140.5K
0.4%
3 $215.8K$235.7K
+9.2%
4 $312K$315K
+1.0%
5+ $375K$382.5K
+2.0%

Summary: Hope Mills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 2%.

Median Sold Price Compared To Nearby Cities

Pearces Mill Township
+10.5%
Rockfish Township
+6.6%
Hope Mills
+5.2%
Fayetteville
+4.9%

Housing Supply in Hope Mills, NC

How many homes are available in Hope Mills, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
227220-3.1%

Summary: The Hope Mills real estate market had 220 homes for sale in May 2024, a 3.1% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 97
-22.2%
3 115105
-8.7%
4 8894
+6.8%
5+ 1514
-6.7%

Summary: The Hope Mills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6156-8.2%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hope Mills, expect to pay close to the asking price. 44.6% of homes here sold near the asking price last month.

Summary: A total of 56 homes were sold or pending in Hope Mills in May 2024, down by 8.2% month-over-month. Of the 56 sold homes, 27% were sold under asking, 45% were sold at asking, and 29% were sold over asking.

Days on Market for Hope Mills, NC

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

Average Sale Time

May 2023May 2024CHANGE
66 Days21 Days-67.6%

Summary: Homes in Hope Mills had an average of 21 days on market in May 2024, down by 67.6% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 56 homes were sold in Hope Mills; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 9% 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 18 Days Ago

Newest Listings in Hope Mills, NC

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