Is South Mills, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, South Mills was a Buyer's Market.
Key Takeaway
South Mills 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 South Mills, NC
How much do homes in South Mills, NC cost?
Median Sold Price
$365,000
$220/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in South Mills have sold for 8.7% less than they did a month ago.
Summary: The median home sold price in South Mills was $365,000 in March 2024, down 8.8% from last month, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | - | N/A |
| 3 Bedrooms | $400K | $365K | -8.8% |
| 4 Bedrooms | $460K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: South Mills housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 8.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| South Mills Township | $307.5K | $365K | +18.7% |
| South Mills | $400K | $365K | -8.8% |
Housing Supply in South Mills, NC
How many homes are available in South Mills, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Summary: The South Mills real estate market had 25 homes for sale in March 2024, a 4.2% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The South Mills 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 decreased by 100%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was 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 Mills, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in South Mills in March 2024, up by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Mills, NC
How long does it take to sell a home in South Mills, NC?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 51 Days | +6.8% |
Summary: Homes in South Mills had an average of 51 days on market in Mar 2024, up by 6.8% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Mills are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in South Mills; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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