Is Old Richmond Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Richmond Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Old Richmond Township has remained a Seller's Market.

Key Takeaway

Old Richmond Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Old Richmond Township, NC

How much do homes in Old Richmond Township, NC cost?

Median Sold Price

$269,990

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$16,490(+6.5%)

Key Takeaway

Homes in Old Richmond Township have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Old Richmond Township was $269,990 in May 2024, up 6.5% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $82.5K-
N/A
2 $180K$137.5K
-23.6%
3 $255K$270K
+5.9%
4 $333.4K$319.9K
-4.1%
5+ --
N/A

Summary: Old Richmond Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.6%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Tobaccoville
+14.5%
Old Richmond Township
+6.5%
Pfafftown
+1.5%
Bethania Township
+1.2%
King
-3.3%

Housing Supply in Old Richmond Township, NC

How many homes are available in Old Richmond Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
20200.0%

Summary: The Old Richmond Township real estate market had 20 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 1616
0.0%
4 43
-25.0%
5+ 00
0.0%

Summary: The Old Richmond Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
550.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Richmond Township, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Old Richmond Township in May 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for Old Richmond Township, NC

How long does it take to sell a home in Old Richmond Township, NC?

Average Sale Time

May 2023May 2024CHANGE
122 Days36 Days-70.6%

Summary: Homes in Old Richmond Township had an average of 36 days on market in May 2024, down by 70.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Old Richmond Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 5 homes were sold in Old Richmond Township; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% 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 Old Richmond Township, NC

Nearby Markets to Old Richmond Township, NC

What housing markets are near Old Richmond Township, NC?