Is Mitchell County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mitchell County is a buyer's market

Buyer's
Market

Difference Since June 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

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$17,500(+7.0%)

Key Takeaway

Homes in Mitchell County have sold for 7% more than they did a year ago.

Summary: The median home sold price in Mitchell County was $267,500 in June 2024, up 7% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $175.3K$246.2K
+40.5%
2 $210K$235K
+11.9%
3 $272K$260K
-4.4%
4 $375K$368.4K
-1.7%
5+ $377.5K$444K
+17.6%

Summary: Mitchell County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.5%, 2 bedroom homes increased by 11.9%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 17.6%.

Median Sold Price Compared To Nearby Counties

Unicoi County
+14.4%
McDowell County
+10.1%
Mitchell County
+7.0%
Yancey County
+6.8%
Avery County
-14.7%

Housing Supply in Mitchell County, NC

How many homes are available in Mitchell County, NC?

Number of Homes For Sale

May 2024Jun 2024CHANGE
8490+7.1%

Summary: The Mitchell County real estate market had 90 homes for sale in June 2024, a 7.1% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 22
0.0%
2 2524
-4.0%
3 4546
+2.2%
4 811
+37.5%
5+ 47
+75.0%

Summary: The Mitchell County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

May 2024Jun 2024CHANGE
811+37.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mitchell County, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Mitchell County in June 2024, up by 37.5% month-over-month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% 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

Jun 2023Jun 2024CHANGE
68 Days76 Days+10.8%

Summary: Homes in Mitchell County had an average of 76 days on market in Jun 2024, up by 10.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 11 homes were sold in Mitchell County; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% 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 Mitchell County, NC

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