Is Locust, 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, Locust has remained a Seller's Market.
Key Takeaway
Locust is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Locust, NC
How much do homes in Locust, NC cost?
Median Sold Price
$396,090
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Locust have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Locust was $396,090 in March 2024, up 5.1% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $59.5K | -55.9% |
| 2 Bedrooms | $255.9K | $300K | +17.2% |
| 3 Bedrooms | $371K | $360K | -3.0% |
| 4 Bedrooms | $440.7K | $427.8K | -2.9% |
| 5+ Bedrooms | $491K | $412.9K | -15.9% |
Summary: Locust housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.9%, 2 bedroom homes increased by 17.2%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Furr Township | $356.8K | $379.2K | +6.3% |
| Locust | $377K | $396K | +5.1% |
| Midland | $381.2K | $390.1K | +2.3% |
Housing Supply in Locust, NC
How many homes are available in Locust, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 72 | 0.0% |
Summary: The Locust real estate market had 72 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 | 2 | 2 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 31 | 26 | -16.1% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Locust 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 100%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust, expect to pay close to the asking price. 43.8% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in Locust in March 2024, the same as the previous month. Of the 16 sold homes, 38% were sold under asking, 44% were sold at asking, and 19% were sold over asking.
Days on Market for Locust, NC
How long does it take to sell a home in Locust, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 92 Days | +39.3% |
Summary: Homes in Locust had an average of 92 days on market in Mar 2024, up by 39.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Locust are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 16 homes were sold in Locust; 31% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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