Is Mitchell County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Mitchell County was a Seller's Market.
Key Takeaway
Mitchell County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mitchell County, NC
How much do homes in Mitchell County, NC cost?
Median Sold Price
$267,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mitchell County have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Mitchell County was $267,500 in March 2024, up 13.8% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174.9K | $196.2K | +12.2% |
| 2 Bedrooms | $199.5K | $217K | +8.8% |
| 3 Bedrooms | $280K | $262.5K | -6.3% |
| 4 Bedrooms | $355K | $384K | +8.2% |
| 5+ Bedrooms | $289K | $579.2K | +100.4% |
Summary: Mitchell County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 100.4%.
Median Sold Price Compared To Nearby Counties
| Mitchell County | $235K | $267.5K | +13.8% |
| Unicoi County | $220K | $240K | +9.1% |
| McDowell County | $279.5K | $295K | +5.5% |
| Yancey County | $337K | $355K | +5.3% |
| Avery County | $385.2K | $343.5K | -10.8% |
Housing Supply in Mitchell County, NC
How many homes are available in Mitchell County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 70 | +20.7% |
Summary: The Mitchell County real estate market had 70 homes for sale in March 2024, a 20.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 18 | 21 | +16.7% |
| 3 Bedrooms | 27 | 34 | +25.9% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Mitchell County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mitchell County, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Mitchell County in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mitchell County, NC
How long does it take to sell a home in Mitchell County, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 85 Days | +202.1% |
Summary: Homes in Mitchell County had an average of 85 days on market in Mar 2024, up by 202.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mitchell County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Mitchell County; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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