Is Richlands, 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, Richlands has remained a Seller's Market.
Key Takeaway
Richlands is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richlands, NC
How much do homes in Richlands, NC cost?
Median Sold Price
$255,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Richlands have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Richlands was $255,000 in April 2024, up 6.3% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $127.5K | $169.5K | +32.9% |
| 3 Bedrooms | $237.8K | $250K | +5.1% |
| 4 Bedrooms | $281K | $292K | +3.9% |
| 5+ Bedrooms | $318.7K | $325K | +2.0% |
Summary: Richlands 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 32.9%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Richlands Township | $241.4K | $260K | +7.7% |
| Richlands | $240K | $255K | +6.3% |
Housing Supply in Richlands, NC
How many homes are available in Richlands, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 125 | 122 | -2.4% |
Summary: The Richlands real estate market had 122 homes for sale in April 2024, a 2.4% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 108 | 102 | -5.6% |
| 4 Bedrooms | 13 | 17 | +30.8% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Richlands 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 remained the same, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 31 | -27.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richlands, expect to pay close to the asking price. 61.3% of homes here sold near the asking price last month.
Summary: A total of 31 homes were sold or pending in Richlands in April 2024, down by 27.9% month-over-month. Of the 31 sold homes, 23% were sold under asking, 61% were sold at asking, and 16% were sold over asking.
Days on Market for Richlands, NC
How long does it take to sell a home in Richlands, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 38 Days | +13.5% |
Summary: Homes in Richlands had an average of 38 days on market in Apr 2024, up by 13.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richlands are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 31 homes were sold in Richlands; 65% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
