Is Mill Spring, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mill Spring is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Mill Spring, NC

How much do homes in Mill Spring, NC cost?

Median Sold Price

$532,000

$259/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$78,000(+17.2%)

Key Takeaway

Homes in Mill Spring have sold for 17.2% more than they did a year ago.

Summary: The median home sold price in Mill Spring was $532,000 in April 2024, up 17.2% from last year, and the median price per square foot was $259.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $261.6K$165.1K
-36.9%
2 $473K$595K
+25.8%
3 $358K$467K
+30.4%
4 $800K$802.5K
0.3%
5+ $1.5M-
N/A

Summary: Mill Spring housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.9%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Cooper Gap Township
+45.5%
Columbus
+30.6%
Mill Spring
+17.2%
Chimney Rock Township
+5.5%
White Oak Township
-13.3%

Housing Supply in Mill Spring, NC

How many homes are available in Mill Spring, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2937+27.6%

Summary: The Mill Spring real estate market had 37 homes for sale in April 2024, a 27.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 87
-12.5%
3 1119
+72.7%
4 66
0.0%
5+ 24
+100.0%

Summary: The Mill Spring housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 72.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mill Spring, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Mill Spring in April 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for Mill Spring, NC

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

Average Sale Time

Apr 2023Apr 2024CHANGE
50 Days87 Days+73.7%

Summary: Homes in Mill Spring had an average of 87 days on market in Apr 2024, up by 73.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 7 homes were sold in Mill Spring; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% 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 11 Days Ago

Newest Listings in Mill Spring, NC

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