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 neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, McDowell County was a Seller's Market.

Key Takeaway

McDowell County 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 McDowell County, NC

How much do homes in McDowell County, NC cost?

Median Sold Price

$295,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$15,500(+5.5%)

Key Takeaway

Homes in McDowell County have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in McDowell County was $295,000 in March 2024, up 5.5% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $192.5K$167K
-13.2%
2 $227K$225K
-0.9%
3 $285.6K$299.7K
+4.9%
4 $350K$452K
+29.1%
5+ $345K$341.2K
-1.1%

Summary: McDowell County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.2%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Counties

Mitchell County
+13.8%
Rutherford County
+6.4%
McDowell County
+5.5%
Yancey County
+5.3%
Burke County
+5.0%

Housing Supply in McDowell County, NC

How many homes are available in McDowell County, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
160171+6.9%

Summary: The McDowell County real estate market had 171 homes for sale in March 2024, a 6.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 4450
+13.6%
3 8187
+7.4%
4 2124
+14.3%
5+ 107
-30.0%

Summary: The McDowell County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3326-21.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

5 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. 50% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in McDowell County in March 2024, down by 21.2% month-over-month. Of the 26 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% 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

Mar 2023Mar 2024CHANGE
58 Days67 Days+15.4%

Summary: Homes in McDowell County had an average of 67 days on market in Mar 2024, up by 15.4% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

5 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 March 2024, 26 homes were sold in McDowell County; 50% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 31% 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 18 Days Ago

Newest Listings in McDowell County, NC

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