Is Efland, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Efland has remained a Seller's Market.
Key Takeaway
Efland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Efland, NC
How much do homes in Efland, NC cost?
Median Sold Price
$400,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Efland have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Efland was $400,000 in May 2024, down 0.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $337.5K | $340K | +0.7% |
| 3 Bedrooms | $360K | $365K | +1.4% |
| 4 Bedrooms | $695K | $745K | +7.2% |
| 5+ Bedrooms | $517.5K | $1.0M | +93.2% |
Summary: Efland housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 93.2%.
Median Sold Price Compared To Nearby Cities
| Bingham Township | $437.5K | $540K | +23.4% |
| Cedar Grove Township | $444.2K | $464.5K | +4.6% |
| Cheeks Township | $375.1K | $375K | 0% |
| Efland | $402.5K | $400K | -0.6% |
| Cedar Grove | $402.5K | $359.5K | -10.7% |
Housing Supply in Efland, NC
How many homes are available in Efland, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Summary: The Efland real estate market had 16 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Efland housing inventory by bedroom type for May 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Efland, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Efland in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Efland, NC
How long does it take to sell a home in Efland, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 7 Days | -78.1% |
Summary: Homes in Efland had an average of 7 days on market in May 2024, down by 78.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Efland are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Efland; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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