Is Burke County, 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, Burke County has remained a Seller's Market.
Key Takeaway
Burke County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burke County, NC
How much do homes in Burke County, NC cost?
Median Sold Price
$252,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Burke County have sold for 5% more than they did a year ago.
Summary: The median home sold price in Burke County was $252,000 in March 2024, up 5% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $148K | $193.7K | +30.9% |
| 2 Bedrooms | $166.6K | $182.5K | +9.5% |
| 3 Bedrooms | $249.7K | $259.6K | +4.0% |
| 4 Bedrooms | $302K | $375K | +24.2% |
| 5+ Bedrooms | $380K | $425K | +11.8% |
Summary: Burke County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.9%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Counties
| Catawba County | $266.1K | $289.6K | +8.9% |
| Caldwell County | $225K | $241.6K | +7.4% |
| McDowell County | $279.5K | $295K | +5.5% |
| Burke County | $240K | $252K | +5.0% |
| Cleveland County | $225K | $234.8K | +4.4% |
Housing Supply in Burke County, NC
How many homes are available in Burke County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 237 | 283 | +19.4% |
Summary: The Burke County real estate market had 283 homes for sale in March 2024, a 19.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 50 | 55 | +10.0% |
| 3 Bedrooms | 138 | 170 | +23.2% |
| 4 Bedrooms | 37 | 42 | +13.5% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Burke County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 23.2%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 54 | +42.1% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burke County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 54 homes were sold or pending in Burke County in March 2024, up by 42.1% month-over-month. Of the 54 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% were sold over asking.
Days on Market for Burke County, NC
How long does it take to sell a home in Burke County, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 37 Days | +3.6% |
Summary: Homes in Burke County had an average of 37 days on market in Mar 2024, up by 3.6% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burke County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 54 homes were sold in Burke County; 67% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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