Is King, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, King has remained a Seller's Market.
Key Takeaway
King is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in King, NC
How much do homes in King, NC cost?
Median Sold Price
$264,250
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in King have sold for 9.7% less than they did a year ago.
Summary: The median home sold price in King was $264,250 in March 2024, down 9.7% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $116K | N/A |
| 2 Bedrooms | $192.4K | $201K | +4.4% |
| 3 Bedrooms | $280K | $248.5K | -11.3% |
| 4 Bedrooms | $369.9K | $373.9K | +1.1% |
| 5+ Bedrooms | $434.9K | $419.9K | -3.4% |
Summary: King 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 4.4%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Tobaccoville | $243K | $289.9K | +19.3% |
| Old Richmond Township | $248.5K | $277.5K | +11.7% |
| Bethania Township | $254K | $258K | +1.6% |
| Yadkin Township | $285K | $261.5K | -8.2% |
| King | $292.5K | $264.2K | -9.7% |
Housing Supply in King, NC
How many homes are available in King, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 60 | 0.0% |
Summary: The King real estate market had 60 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 18 | 17 | -5.6% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The King 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 decreased by 12.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in King, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in King in March 2024, down by 10.5% month-over-month. Of the 17 sold homes, 35% were sold under asking, 18% were sold at asking, and 47% were sold over asking.
Days on Market for King, NC
How long does it take to sell a home in King, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 41 Days | -13.1% |
Summary: Homes in King had an average of 41 days on market in Mar 2024, down by 13.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in King are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in King; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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