Is South Albemarle Township, 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, South Albemarle Township has remained a Seller's Market.
Key Takeaway
South Albemarle Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Albemarle Township, NC
How much do homes in South Albemarle Township, NC cost?
Median Sold Price
$255,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Albemarle Township have sold for 2% more than they did a year ago.
Summary: The median home sold price in South Albemarle Township was $255,000 in April 2024, up 2% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $190K | -30.9% |
| 2 Bedrooms | $141.5K | $145K | +2.5% |
| 3 Bedrooms | $251K | $269.9K | +7.5% |
| 4 Bedrooms | $323.3K | $315.5K | -2.4% |
| 5+ Bedrooms | $320K | $232.5K | -27.3% |
Summary: South Albemarle Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.9%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 27.3%.
Median Sold Price Compared To Nearby Cities
| Albemarle | $237K | $250.4K | +5.7% |
| Center Township | $246.7K | $260K | +5.4% |
| North Albemarle Township | $233.5K | $239.8K | +2.7% |
| South Albemarle Township | $249.9K | $255K | +2.0% |
Housing Supply in South Albemarle Township, NC
How many homes are available in South Albemarle Township, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 62 | 0.0% |
Summary: The South Albemarle Township real estate market had 62 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 41 | 40 | -2.4% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The South Albemarle Township 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 25%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Albemarle Township, expect to pay close to the asking price. 43.8% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in South Albemarle Township in April 2024, up by 23.1% month-over-month. Of the 16 sold homes, 31% were sold under asking, 44% were sold at asking, and 25% were sold over asking.
Days on Market for South Albemarle Township, NC
How long does it take to sell a home in South Albemarle Township, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 62 Days | 63 Days | +2.0% |
Summary: Homes in South Albemarle Township had an average of 63 days on market in Apr 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South Albemarle Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 16 homes were sold in South Albemarle Township; 31% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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