Is Red Springs, 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, Red Springs was a Seller's Market.
Key Takeaway
Red Springs 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 Red Springs, NC
How much do homes in Red Springs, NC cost?
Median Sold Price
$125,000
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Red Springs have sold for 16.1% less than they did a year ago.
Summary: The median home sold price in Red Springs was $125,000 in March 2024, down 16.1% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $55K | $121.5K | +120.9% |
| 3 Bedrooms | $147K | $111.5K | -24.1% |
| 4 Bedrooms | $267.5K | $243K | -9.2% |
| 5+ Bedrooms | - | $332.5K | N/A |
Summary: Red Springs 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 increased by 120.9%, 3 bedroom homes decreased by 24.1%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Red Springs | $149K | $125K | -16.1% |
| Red Springs Township | $149K | $125K | -16.1% |
Housing Supply in Red Springs, NC
How many homes are available in Red Springs, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The Red Springs real estate market had 18 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Red Springs 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 100%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Red Springs, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Red Springs in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Red Springs, NC
How long does it take to sell a home in Red Springs, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 124 Days | 26 Days | -78.5% |
Summary: Homes in Red Springs had an average of 26 days on market in Mar 2024, down by 78.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Red Springs are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Red Springs; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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