Is King, 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, King has remained a Seller's Market.
Key Takeaway
King is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in King, NC
How much do homes in King, NC cost?
Median Sold Price
$272,400
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in King have sold for 6% less than they did a year ago.
Summary: The median home sold price in King was $272,400 in April 2024, down 6% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $116K | N/A |
| 2 Bedrooms | $239.9K | $200K | -16.6% |
| 3 Bedrooms | $272.5K | $250K | -8.3% |
| 4 Bedrooms | $375K | $379K | +1.1% |
| 5+ Bedrooms | $404.9K | $419.9K | +3.7% |
Summary: King 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 16.6%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Tobaccoville | $244K | $288K | +18.0% |
| Old Richmond Township | $248.5K | $267.4K | +7.6% |
| Bethania Township | $255K | $259.5K | +1.8% |
| King | $289.9K | $272.4K | -6.0% |
| Yadkin Township | $290K | $268.9K | -7.3% |
Housing Supply in King, NC
How many homes are available in King, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 59 | -1.7% |
Summary: The King real estate market had 59 homes for sale in April 2024, a 1.7% decrease 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 | 7 | 6 | -14.3% |
| 3 Bedrooms | 31 | 33 | +6.5% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The King 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 14.3%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in King, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in King in April 2024, down by 35.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 55% were sold at asking, and 9% were sold over asking.
Days on Market for King, NC
How long does it take to sell a home in King, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 77 Days | +57.0% |
Summary: Homes in King had an average of 77 days on market in Apr 2024, up by 57% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in King are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in King; 45% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.