Is McDowell County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McDowell County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, McDowell County has remained a Seller's Market.

Key Takeaway

McDowell County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in McDowell County, NC

How much do homes in McDowell County, NC cost?

Median Sold Price

$290,000

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$7,500(+2.7%)

Key Takeaway

Homes in McDowell County have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in McDowell County was $290,000 in February 2024, up 2.7% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $192.5K$168.5K
-12.5%
2 $228.4K$227.5K
-0.4%
3 $286K$299K
+4.5%
4 $352.4K$391K
+10.9%
5+ $465K$345K
-25.8%

Summary: McDowell County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 25.8%.

Median Sold Price Compared To Nearby Counties

Mitchell County
+21.1%
Burke County
+4.3%
Rutherford County
+3.7%
Yancey County
+2.9%
McDowell County
+2.7%

Housing Supply in McDowell County, NC

How many homes are available in McDowell County, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
156159+1.9%

Summary: The McDowell County real estate market had 159 homes for sale in February 2024, a 1.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 44
0.0%
2 4045
+12.5%
3 8280
-2.4%
4 2121
0.0%
5+ 99
0.0%

Summary: The McDowell County 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 increased by 12.5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3129-6.5%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McDowell County, you may be able to get a good deal. 72.4% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in McDowell County in February 2024, down by 6.5% month-over-month. Of the 29 sold homes, 72% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for McDowell County, NC

How long does it take to sell a home in McDowell County, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
36 Days61 Days+69.9%

Summary: Homes in McDowell County had an average of 61 days on market in Feb 2024, up by 69.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 29 homes were sold in McDowell County; 48% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 28% 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 McDowell County, NC

Nearby Markets to McDowell County, NC

What housing markets are near McDowell County, NC?