Is 28216, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 28216 is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, 28216 has remained a Seller's Market.

Key Takeaway

28216 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 28216, NC

How much do homes in 28216, NC cost?

Median Sold Price

$345,000

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,250(+1.5%)

Key Takeaway

Homes in 28216 have sold for 1.5% more than they did a year ago.

Summary: The median home sold price in 28216 was $345,000 in May 2024, up 1.5% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $87K$80K
-8.0%
2 $244.5K$249.2K
+1.9%
3 $311.7K$326.1K
+4.6%
4 $392K$392.5K
0.1%
5+ $511.1K$529.9K
+3.7%

Summary: 28216 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 3.7%.

Median Sold Price Compared To Nearby Zip Codes

28206
+8.1%
28214
+3.8%
28202
+3.8%
28216
+1.5%
28208
-0.4%

Housing Supply in 28216, NC

How many homes are available in 28216, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
256245-4.3%

Summary: The 28216 real estate market had 245 homes for sale in May 2024, a 4.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 2828
0.0%
3 141131
-7.1%
4 7675
-1.3%
5+ 1111
0.0%

Summary: The 28216 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
6275+21.0%

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 28216, you may be able to get a good deal. 54.7% of homes here sold below asking price last month.

Summary: A total of 75 homes were sold or pending in 28216 in May 2024, up by 21.0% month-over-month. Of the 75 sold homes, 55% were sold under asking, 20% were sold at asking, and 25% were sold over asking.

Days on Market for 28216, NC

How long does it take to sell a home in 28216, NC?

Average Sale Time

May 2023May 2024CHANGE
39 Days25 Days-35.0%

Summary: Homes in 28216 had an average of 25 days on market in May 2024, down by 35% compared to last year.

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 28216 are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 75 homes were sold in 28216; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 28216, NC

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