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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkin is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Elkin, NC

How much do homes in Elkin, NC cost?

Median Sold Price

$209,000

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$18,250(-8.0%)

Key Takeaway

Homes in Elkin have sold for 8% less than they did a year ago.

Summary: The median home sold price in Elkin was $209,000 in April 2024, down 8% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $134.5K$172K
+27.9%
3 $246K$260K
+5.7%
4 $309K$288K
-6.8%
5+ $355K$311K
-12.4%

Summary: Elkin 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 increased by 27.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes decreased by 12.4%.

Median Sold Price Compared To Nearby Cities

State Road
+52.7%
Jonesville
-2.0%
Elkin Township
-5.3%
Elkin
-8.0%
North Knobs Township
-18.6%

Housing Supply in Elkin, NC

How many homes are available in Elkin, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3433-2.9%

Summary: The Elkin real estate market had 33 homes for sale in April 2024, a 2.9% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 02
+100.0%
2 138
-38.5%
3 1416
+14.3%
4 77
0.0%
5+ 00
0.0%

Summary: The Elkin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 38.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkin, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Elkin in April 2024, down by 18.2% month-over-month. Of the 9 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Elkin, NC

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

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days47 Days+151.3%

Summary: Homes in Elkin had an average of 47 days on market in Apr 2024, up by 151.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 9 homes were sold in Elkin; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% 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 19 Days Ago

Newest Listings in Elkin, NC

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