Is Colfax, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Colfax has remained a Seller's Market.
Key Takeaway
Colfax is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colfax, NC
How much do homes in Colfax, NC cost?
Median Sold Price
$406,245
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Colfax have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Colfax was $406,245 in April 2024, down 4.4% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $329.1K | $230K | -30.1% |
| 3 Bedrooms | $300.3K | $315K | +4.9% |
| 4 Bedrooms | $441.5K | $465K | +5.3% |
| 5+ Bedrooms | $460.7K | $505K | +9.6% |
Summary: Colfax housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 30.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Oak Ridge Township | $529.8K | $599K | +13.0% |
| Oak Ridge | $570K | $639.9K | +12.3% |
| Kernersville | $325K | $339.9K | +4.6% |
| Deep River Township | $398K | $381.1K | -4.2% |
| Colfax | $425K | $406.2K | -4.4% |
Housing Supply in Colfax, NC
How many homes are available in Colfax, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 27 | +12.5% |
Summary: The Colfax real estate market had 27 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Colfax housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Colfax, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Colfax in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 56% were sold at asking, and 11% were sold over asking.
Days on Market for Colfax, NC
How long does it take to sell a home in Colfax, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 21 Days | -51.1% |
Summary: Homes in Colfax had an average of 21 days on market in Apr 2024, down by 51.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colfax are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Colfax; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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