Is Elkin, 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, Elkin has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $134.5K | $172K | +27.9% |
3 Bedrooms | $246K | $260K | +5.7% |
4 Bedrooms | $309K | $288K | -6.8% |
5+ Bedrooms | $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 | $205K | $313K | +52.7% |
Jonesville | $193.9K | $190K | -2.0% |
Elkin Township | $235K | $222.5K | -5.3% |
Elkin | $227.2K | $209K | -8.0% |
North Knobs Township | $204K | $166K | -18.6% |
Housing Supply in Elkin, NC
How many homes are available in Elkin, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 33 | -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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 13 | 8 | -38.5% |
3 Bedrooms | 14 | 16 | +14.3% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 0 | 0 | 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 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 9 | -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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 47 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
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.