Is Spring Lake, 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, Spring Lake has remained a Seller's Market.
Housing Prices in Spring Lake, NC
How much do homes in Spring Lake, NC cost?
Median Sold Price
$304,500
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Spring Lake was $304,500 in March 2024, up 8.9% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $200K | $200K | 0.0% |
3 Bedrooms | $235.5K | $215K | -8.7% |
4 Bedrooms | $335K | $350K | +4.5% |
5+ Bedrooms | $390.7K | $390K | -0.2% |
Summary: Spring Lake 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 did not change, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
Manchester Township | $149.5K | $172.5K | +15.4% |
Spring Lake | $279.6K | $304.5K | +8.9% |
Spring Lake | $288.5K | $305K | +5.7% |
Housing Supply in Spring Lake, NC
How many homes are available in Spring Lake, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
118 | 115 | -2.5% |
Summary: The Spring Lake real estate market had 115 homes for sale in March 2024, a 2.5% 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 | 7 | 6 | -14.3% |
3 Bedrooms | 51 | 51 | 0.0% |
4 Bedrooms | 52 | 48 | -7.7% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Spring Lake 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 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 23 | -30.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Spring Lake in March 2024, down by 30.3% month-over-month. Of the 23 sold homes, 26% were sold under asking, 57% were sold at asking, and 17% were sold over asking.
Days on Market for Spring Lake, NC
How long does it take to sell a home in Spring Lake, NC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
67 Days | 68 Days | +1.9% |
Summary: Homes in Spring Lake had an average of 68 days on market in Mar 2024, up by 1.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in Spring Lake; 26% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.