Is Richlands, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Richlands has remained a Seller's Market.
Key Takeaway
Richlands is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richlands, NC
How much do homes in Richlands, NC cost?
Median Sold Price
$251,793
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Richlands have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Richlands was $251,793 in March 2024, up 4.9% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $127K | $169.5K | +33.5% |
| 3 Bedrooms | $237K | $249.9K | +5.4% |
| 4 Bedrooms | $278K | $288K | +3.6% |
| 5+ Bedrooms | $318.7K | $325K | +2.0% |
Summary: Richlands 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 33.5%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Richlands Township | $240K | $258.5K | +7.7% |
| Richlands | $240K | $251.7K | +4.9% |
Housing Supply in Richlands, NC
How many homes are available in Richlands, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 125 | 119 | -4.8% |
Summary: The Richlands real estate market had 119 homes for sale in March 2024, a 4.8% 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 | 2 | +100.0% |
| 3 Bedrooms | 113 | 102 | -9.7% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Richlands 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 9.7%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 42 | +44.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richlands, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 42 homes were sold or pending in Richlands in March 2024, up by 44.8% month-over-month. Of the 42 sold homes, 24% were sold under asking, 57% were sold at asking, and 19% were sold over asking.
Days on Market for Richlands, NC
How long does it take to sell a home in Richlands, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 38 Days | +1.5% |
Summary: Homes in Richlands had an average of 38 days on market in Mar 2024, up by 1.5% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richlands are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 42 homes were sold in Richlands; 76% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
