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 June 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

$302,725

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$27,725(+10.1%)

Key Takeaway

Homes in McDowell County have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in McDowell County was $302,725 in June 2024, up 10.1% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $200K$122.7K
-38.6%
2 $238K$219.9K
-7.6%
3 $276K$315.5K
+14.3%
4 $365K$597.5K
+63.7%
5+ $465K$367.5K
-21.0%

Summary: McDowell County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.6%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 63.7%, and 5+ bedroom homes decreased by 21%.

Median Sold Price Compared To Nearby Counties

McDowell County
+10.1%
Rutherford County
+7.6%
Burke County
+7.1%
Mitchell County
+7.0%
Yancey County
+6.8%

Housing Supply in McDowell County, NC

How many homes are available in McDowell County, NC?

Number of Homes For Sale

May 2024Jun 2024CHANGE
181206+13.8%

Summary: The McDowell County real estate market had 206 homes for sale in June 2024, a 13.8% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 56
+20.0%
2 5254
+3.8%
3 94109
+16.0%
4 2428
+16.7%
5+ 69
+50.0%

Summary: The McDowell County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

May 2024Jun 2024CHANGE
2234+54.5%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

1 Home Was 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. 61.8% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in McDowell County in June 2024, up by 54.5% month-over-month. Of the 34 sold homes, 62% were sold under asking, 35% were sold at asking, and 3% 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

Jun 2023Jun 2024CHANGE
25 Days37 Days+45.6%

Summary: Homes in McDowell County had an average of 37 days on market in Jun 2024, up by 45.6% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

4 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 June 2024, 34 homes were sold in McDowell County; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% 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 26 Days Ago

Newest Listings in McDowell County, NC

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