Is Mars Hill, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mars Hill is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Mars Hill has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Mars Hill, NC

How much do homes in Mars Hill, NC cost?

Median Sold Price

$399,250

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$45,500(-10.2%)

Key Takeaway

Homes in Mars Hill have sold for 10.2% less than they did a year ago.

Summary: The median home sold price in Mars Hill was $399,250 in February 2024, down 10.2% from last year, and the median price per square foot was $252.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$217.2K
N/A
2 $386.7K$285K
-26.3%
3 $449.5K$400K
-11.0%
4 $589K$612.5K
+4.0%
5+ $399K$1.0M
+150.6%

Summary: Mars Hill housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26.3%, 3 bedroom homes decreased by 11%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 150.6%.

Housing Supply in Mars Hill, NC

How many homes are available in Mars Hill, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4651+10.9%

Summary: The Mars Hill real estate market had 51 homes for sale in February 2024, a 10.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 20
-100.0%
2 810
+25.0%
3 3134
+9.7%
4 57
+40.0%
5+ 00
0.0%

Summary: The Mars Hill housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
103-70.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mars Hill, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Mars Hill in February 2024, down by 70.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Mars Hill, NC

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

Average Sale Time

Feb 2023Feb 2024CHANGE
40 Days86 Days+115.0%

Summary: Homes in Mars Hill had an average of 86 days on market in Feb 2024, up by 115% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 3 homes were sold in Mars Hill; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 28 Days Ago

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