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 March 2023

At the same time last year, Mill Spring was a Seller'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

$520,000

$261/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$95,000(+22.4%)

Key Takeaway

Homes in Mill Spring have sold for 22.4% more than they did a year ago.

Summary: The median home sold price in Mill Spring was $520,000 in March 2024, up 22.4% from last year, and the median price per square foot was $261.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $261.6K$165.1K
-36.9%
2 $473K$595K
+25.8%
3 $315K$520K
+65.1%
4 $850K$503.5K
-40.8%
5+ $1.5M-
N/A

Summary: Mill Spring housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.9%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 65.1%, 4 bedroom homes decreased by 40.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Cooper Gap Township
+36.8%
Columbus
+34.5%
Mill Spring
+22.4%
White Oak Township
+8.7%
Chimney Rock Township
+1.1%

Housing Supply in Mill Spring, NC

How many homes are available in Mill Spring, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2930+3.4%

Summary: The Mill Spring real estate market had 30 homes for sale in March 2024, a 3.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 88
0.0%
3 1110
-9.1%
4 67
+16.7%
5+ 33
0.0%

Summary: The Mill Spring housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

2 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. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Mill Spring in March 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Mar 2023Mar 2024CHANGE
64 Days78 Days+21.6%

Summary: Homes in Mill Spring had an average of 78 days on market in Mar 2024, up by 21.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 4 homes were sold in Mill Spring; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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 Mill Spring, NC

Nearby Markets to Mill Spring, NC

What housing markets are near Mill Spring, NC?