Is South Albemarle 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, South Albemarle Township was a Neutral Market.
Key Takeaway
South Albemarle Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Albemarle Township, NC
How much do homes in South Albemarle Township, NC cost?
Median Sold Price
$249,200
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in South Albemarle Township has remained the same since last year.
Summary: The median home sold price in South Albemarle Township was $249,200 in March 2024, down 0.3% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $190K | -30.9% |
| 2 Bedrooms | $144K | $145K | +0.7% |
| 3 Bedrooms | $251.9K | $262.4K | +4.2% |
| 4 Bedrooms | $315.3K | $315.5K | 0.0% |
| 5+ Bedrooms | $320K | $290K | -9.4% |
Summary: South Albemarle Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.9%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 9.4%.
Median Sold Price Compared To Nearby Cities
| Albemarle | $234.4K | $250.1K | +6.7% |
| Center Township | $246K | $260K | +5.7% |
| North Albemarle Township | $229.6K | $242K | +5.4% |
| South Albemarle Township | $250K | $249.2K | -0.3% |
Housing Supply in South Albemarle Township, NC
How many homes are available in South Albemarle Township, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The South Albemarle Township real estate market had 61 homes for sale in March 2024, a 3.4% increase 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 | 11 | 11 | 0.0% |
| 3 Bedrooms | 37 | 40 | +8.1% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The South Albemarle 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 increased by 8.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Albemarle Township, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in South Albemarle Township in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 91% were sold under asking, 0% were sold at asking, and 9% were sold over asking.
Days on Market for South Albemarle Township, NC
How long does it take to sell a home in South Albemarle Township, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 48 Days | -14.0% |
Summary: Homes in South Albemarle Township had an average of 48 days on market in Mar 2024, down by 14% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Albemarle Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in South Albemarle Township; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.