Is Old Richmond Township, 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, Old Richmond Township was a Seller's Market.
Key Takeaway
Old Richmond Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Old Richmond Township, NC
How much do homes in Old Richmond Township, NC cost?
Median Sold Price
$277,500
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Old Richmond Township have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Old Richmond Township was $277,500 in March 2024, up 11.7% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82.5K | - | N/A |
| 2 Bedrooms | $180K | $137.5K | -23.6% |
| 3 Bedrooms | $244K | $283.5K | +16.2% |
| 4 Bedrooms | $319.9K | $400K | +25.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Old Richmond Township housing prices by bedroom type for March 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 16.2%, 4 bedroom homes increased by 25%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Tobaccoville | $243K | $289.9K | +19.3% |
| Old Richmond Township | $248.5K | $277.5K | +11.7% |
| Pfafftown | $331.8K | $340K | +2.4% |
| Bethania Township | $254K | $258K | +1.6% |
| King | $292.5K | $264.2K | -9.7% |
Housing Supply in Old Richmond Township, NC
How many homes are available in Old Richmond Township, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Summary: The Old Richmond Township real estate market had 13 homes for sale in March 2024, a 18.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Old Richmond Township 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 remained the same, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Old Richmond Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Old Richmond Township in March 2024, down by 75.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 37 Days | +68.2% |
Summary: Homes in Old Richmond Township had an average of 37 days on market in Mar 2024, up by 68.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Old Richmond Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Old Richmond Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
