Is Mayo Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mayo Township is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Mayo Township was a Seller's Market.

Key Takeaway

Mayo Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Mayo Township, NC

How much do homes in Mayo Township, NC cost?

Median Sold Price

$220,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$23,750(-9.7%)

Key Takeaway

Homes in Mayo Township have sold for 9.7% less than they did a year ago.

Summary: The median home sold price in Mayo Township was $220,000 in February 2024, down 9.7% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $55K$120K
+118.2%
2 $145K$124.9K
-13.9%
3 $267.4K$276.3K
+3.3%
4 $230K$213K
-7.4%
5+ $85K-
N/A

Summary: Mayo Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 118.2%, 2 bedroom homes decreased by 13.9%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Stoneville
+34.0%
Madison Township
+25.7%
Mayo Township
-9.7%

Housing Supply in Mayo Township, NC

How many homes are available in Mayo Township, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2220-9.1%

Summary: The Mayo Township real estate market had 20 homes for sale in February 2024, a 9.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 31
-66.7%
3 1918
-5.3%
4 01
+100.0%
5+ 00
0.0%

Summary: The Mayo Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mayo Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Mayo Township in February 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Mayo Township, NC

How long does it take to sell a home in Mayo Township, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
67 Days121 Days+80.7%

Summary: Homes in Mayo Township had an average of 121 days on market in Feb 2024, up by 80.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Mayo Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 3 homes were sold in Mayo Township; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% 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

Newest Listings in Mayo Township, NC

Nearby Markets to Mayo Township, NC

What housing markets are near Mayo Township, NC?