Is Mill Spring, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mill Spring is a buyer's market

Buyer's
Market

Difference Since September 2023

Since last year, Mill Spring has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Mill Spring, NC

How much do homes in Mill Spring, NC cost?

Median Sold Price

$645,741

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$180,741(+38.9%)

Key Takeaway

Homes in Mill Spring have sold for 38.9% more than they did a year ago.

Summary: The median home sold price in Mill Spring was $645,741 in September 2024, up 38.9% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $261.6K$120K
-54.1%
2 $526.8K$595K
+12.9%
3 $435K$687.5K
+58.0%
4 $657.5K$875K
+33.1%
5+ $1.0M$762K
-27.4%

Summary: Mill Spring housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.1%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 58%, 4 bedroom homes increased by 33.1%, and 5+ bedroom homes decreased by 27.4%.

Median Sold Price Compared To Nearby Cities

Mill Spring
+38.9%
Cooper Gap Township
+19.7%
Chimney Rock Township
+17.0%
Columbus
+11.1%

Housing Supply in Mill Spring, NC

How many homes are available in Mill Spring, NC?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4047+17.5%

Summary: The Mill Spring real estate market had 47 homes for sale in September 2024, a 17.5% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 88
0.0%
3 2326
+13.0%
4 59
+80.0%
5+ 44
0.0%

Summary: The Mill Spring housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

3 Homes Were 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 Mill Spring, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Mill Spring in September 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for Mill Spring, NC

How long does it take to sell a home in Mill Spring, NC?

Average Sale Time

Sep 2023Sep 2024CHANGE
48 Days95 Days+97.5%

Summary: Homes in Mill Spring had an average of 95 days on market in Sep 2024, up by 97.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 5 homes were sold in Mill Spring; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 30 Days Ago

Newest Listings in Mill Spring, NC

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