Is Spring Hope, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2022
Since last year, Spring Hope has remained a Buyer's Market.
Key Takeaway
Spring Hope is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices
How much do homes in Spring Hope, NC cost?
Median Sold Price
$282,200
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2022
Key Takeaway
Homes in Spring Hope have sold for 42.5% more than they did a year ago.
Summary: The median home sold price in Spring Hope was $282,200 in September 2023, up 42.5% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $133.5K | $160K | +19.9% |
| 3 Bedrooms | $198K | $298K | +50.5% |
| 4 Bedrooms | $280K | $289.9K | +3.5% |
| 5+ Bedrooms | $235.4K | $324.9K | +38.0% |
Summary: Spring Hope housing prices by bedroom type for September 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 50.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 38%.
Median Sold Price Compared To Nearby Cities
| Spring Hope | $198K | $282.2K | +42.5% |
| Mannings Township | $217.5K | $215K | -1.1% |
Housing Supply
How many homes are available in Spring Hope, NC?
Number of Homes For Sale
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 34 | 37 | +8.8% |
Summary: The Spring Hope real estate market had 37 homes for sale in September 2023, a 8.8% increase compared to August 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Spring Hope housing inventory by bedroom type for September 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Spring Hope, 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 Spring Hope in September 2023, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market
How long does it take to sell a home in Spring Hope, NC?
Average Sale Time
| Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|
| 2 Days | 28 Days | +1325.0% |
Summary: Homes in Spring Hope had an average of 28 days on market in Sep 2023, up by 1325% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spring Hope are selling fast, if you're buying plan to act quickly.
Summary: During September 2023, 4 homes were sold in Spring Hope; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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