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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shelby is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Shelby was a Seller's Market.

Key Takeaway

Shelby is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Shelby, NC

How much do homes in Shelby, NC cost?

Median Sold Price

$239,700

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$19,700(+9.0%)

Key Takeaway

Homes in Shelby have sold for 9% more than they did a year ago.

Summary: The median home sold price in Shelby was $239,700 in April 2024, up 9% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $71.2K$73K
+2.5%
2 $153.5K$168.5K
+9.8%
3 $225K$236.5K
+5.1%
4 $278.7K$305K
+9.4%
5+ $290.5K$377.5K
+29.9%

Summary: Shelby housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 29.9%.

Housing Supply in Shelby, NC

How many homes are available in Shelby, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
249287+15.3%

Summary: The Shelby real estate market had 287 homes for sale in April 2024, a 15.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 44
0.0%
2 3848
+26.3%
3 136152
+11.8%
4 5361
+15.1%
5+ 1822
+22.2%

Summary: The Shelby 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 increased by 26.3%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3948+23.1%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shelby, you may be able to get a good deal. 53.2% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Shelby in April 2024, up by 23.1% month-over-month. Of the 47 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.

Days on Market for Shelby, NC

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

Average Sale Time

Apr 2023Apr 2024CHANGE
55 Days43 Days-20.6%

Summary: Homes in Shelby had an average of 43 days on market in Apr 2024, down by 20.6% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 48 homes were sold in Shelby; 48% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 15% 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 9 Days Ago

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