Is Shelby, 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, Shelby was a Seller's Market.
Key Takeaway
Shelby is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shelby, NC
How much do homes in Shelby, NC cost?
Median Sold Price
$241,500
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Shelby have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Shelby was $241,500 in March 2024, up 12.3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98.2K | $104K | +5.9% |
| 2 Bedrooms | $150K | $168.5K | +12.3% |
| 3 Bedrooms | $215K | $238.1K | +10.8% |
| 4 Bedrooms | $275K | $305K | +10.9% |
| 5+ Bedrooms | $323.4K | $347.5K | +7.4% |
Summary: Shelby housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.4%.
Housing Supply in Shelby, NC
How many homes are available in Shelby, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 238 | 261 | +9.7% |
Summary: The Shelby real estate market had 261 homes for sale in March 2024, a 9.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 39 | 42 | +7.7% |
| 3 Bedrooms | 124 | 140 | +12.9% |
| 4 Bedrooms | 52 | 58 | +11.5% |
| 5+ Bedrooms | 19 | 17 | -10.5% |
Summary: The Shelby 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 7.7%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Shelby in March 2024, up by 9.1% month-over-month. Of the 36 sold homes, 56% were sold under asking, 42% were sold at asking, and 3% were sold over asking.
Days on Market for Shelby, NC
How long does it take to sell a home in Shelby, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 46 Days | +1.8% |
Summary: Homes in Shelby had an average of 46 days on market in Mar 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelby are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 36 homes were sold in Shelby; 44% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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