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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Locust is a seller's market

Buyer's
Market

Difference Since June 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

$399,900

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$14,900(+3.9%)

Key Takeaway

Homes in Locust have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Locust was $399,900 in June 2024, up 3.9% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $135K$59.5K
-55.9%
2 $264.5K$305K
+15.3%
3 $353K$361.5K
+2.4%
4 $419.5K$430K
+2.5%
5+ $447.5K$410.2K
-8.3%

Summary: Locust housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.9%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 8.3%.

Median Sold Price Compared To Nearby Cities

Furr Township
+5.0%
Locust
+3.9%
Stanfield
0.0%
Midland
-1.5%

Housing Supply in Locust, NC

How many homes are available in Locust, NC?

Number of Homes For Sale

May 2024Jun 2024CHANGE
7361-16.4%

Summary: The Locust real estate market had 61 homes for sale in June 2024, a 16.4% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 11
0.0%
3 2720
-25.9%
4 3429
-14.7%
5+ 1010
0.0%

Summary: The Locust housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25.9%, 4 bedroom homes decreased by 14.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
1811-38.9%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Locust, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Locust in June 2024, down by 38.9% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% 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

Jun 2023Jun 2024CHANGE
36 Days48 Days+31.3%

Summary: Homes in Locust had an average of 48 days on market in Jun 2024, up by 31.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Locust has remained consistent over time.

Summary: During June 2024, 11 homes were sold in Locust; 36% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 18% 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 24 Days Ago

Newest Listings in Locust, NC

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