Is 28202, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 28202 was a Seller's Market.
Key Takeaway
28202 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 28202, NC
How much do homes in 28202, NC cost?
Median Sold Price
$399,750
$409/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 28202 have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in 28202 was $399,750 in May 2024, up 3.8% from last year, and the median price per square foot was $409.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $305K | +3.4% |
| 2 Bedrooms | $443.5K | $500K | +12.7% |
| 3 Bedrooms | $740K | $664.2K | -10.2% |
| 4 Bedrooms | $825K | $1.6M | +105.8% |
| 5+ Bedrooms | $962.5K | - | N/A |
Summary: 28202 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 12.7%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes increased by 105.8%, and 5+ bedroom homes did not change.
Housing Supply in 28202, NC
How many homes are available in 28202, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 120 | +16.5% |
Summary: The 28202 real estate market had 120 homes for sale in May 2024, a 16.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 41 | 50 | +22.0% |
| 2 Bedrooms | 46 | 54 | +17.4% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 28202 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 28202, you may be able to get a good deal. 65% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 28202 in May 2024, down by 9.1% month-over-month. Of the 20 sold homes, 65% were sold under asking, 15% were sold at asking, and 20% were sold over asking.
Days on Market for 28202, NC
How long does it take to sell a home in 28202, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 27 Days | +4.2% |
Summary: Homes in 28202 had an average of 27 days on market in May 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 28202 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in 28202; 60% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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