Is Spruce Pine, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Spruce Pine was a Seller's Market.
Key Takeaway
Spruce Pine 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 Spruce Pine, NC
How much do homes in Spruce Pine, NC cost?
Median Sold Price
$260,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Spruce Pine have sold for 4% more than they did a year ago.
Summary: The median home sold price in Spruce Pine was $260,000 in April 2024, up 4% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.5K | $157.5K | +5.4% |
| 2 Bedrooms | $225K | $226K | 0.4% |
| 3 Bedrooms | $247.8K | $250K | +0.9% |
| 4 Bedrooms | $355K | $335K | -5.6% |
| 5+ Bedrooms | $327.5K | $745K | +127.5% |
Summary: Spruce Pine housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 127.5%.
Median Sold Price Compared To Nearby Cities
| Grassy Creek Township | $253K | $267.5K | +5.7% |
| Spruce Pine | $250K | $260K | +4.0% |
Housing Supply in Spruce Pine, NC
How many homes are available in Spruce Pine, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 40 | +5.3% |
Summary: The Spruce Pine real estate market had 40 homes for sale in April 2024, a 5.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 24 | 25 | +4.2% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Spruce Pine 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 increased by 4.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spruce Pine, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Spruce Pine in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Spruce Pine, NC
How long does it take to sell a home in Spruce Pine, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 132 Days | 64 Days | -51.3% |
Summary: Homes in Spruce Pine had an average of 64 days on market in Apr 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Spruce Pine has remained consistent over time.
Summary: During April 2024, 6 homes were sold in Spruce Pine; 17% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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