Is Smithfield, 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, Smithfield has remained a Seller's Market.
Key Takeaway
Smithfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Smithfield, NC
How much do homes in Smithfield, NC cost?
Median Sold Price
$305,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Smithfield have sold for 5.8% less than they did a year ago.
Summary: The median home sold price in Smithfield was $305,000 in April 2024, down 5.8% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $180K | +12.5% |
| 3 Bedrooms | $299.9K | $299.9K | 0.0% |
| 4 Bedrooms | $396K | $369.9K | -6.6% |
| 5+ Bedrooms | $399.6K | $499.7K | +25.0% |
Summary: Smithfield 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 12.5%, 3 bedroom homes did not change, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 25%.
Median Sold Price Compared To Nearby Cities
| Selma | $307.6K | $309.6K | +0.6% |
| Selma Township | $303.1K | $302K | -0.4% |
| Smithfield Township | $327K | $309.5K | -5.4% |
| Smithfield | $323.7K | $305K | -5.8% |
| Wilson Mills Township | $356.9K | $330K | -7.6% |
Housing Supply in Smithfield, NC
How many homes are available in Smithfield, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 108 | 114 | +5.6% |
Summary: The Smithfield real estate market had 114 homes for sale in April 2024, a 5.6% increase 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 | 5 | 3 | -40.0% |
| 3 Bedrooms | 77 | 81 | +5.2% |
| 4 Bedrooms | 23 | 27 | +17.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Smithfield 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 40%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smithfield, expect to pay close to the asking price. 55.2% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Smithfield in April 2024, up by 7.4% month-over-month. Of the 29 sold homes, 34% were sold under asking, 55% were sold at asking, and 10% were sold over asking.
Days on Market for Smithfield, NC
How long does it take to sell a home in Smithfield, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 92 Days | 64 Days | -30.2% |
Summary: Homes in Smithfield had an average of 64 days on market in Apr 2024, down by 30.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Smithfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 29 homes were sold in Smithfield; 52% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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