Is Elkin Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkin Township is a neutral's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Elkin Township 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 Elkin Township, NC

How much do homes in Elkin Township, NC cost?

Median Sold Price

$232,500

$157/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since May 2023.

Key Takeaway

The sold price of homes in Elkin Township has remained the same since last year.

Summary: The median home sold price in Elkin Township was $232,500 in May 2024, the same as last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$172K
N/A
2 $160.5K$172K
+7.2%
3 $246K$282.4K
+14.8%
4 $309K$334.2K
+8.2%
5+ $355K$311K
-12.4%

Summary: Elkin Township 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 7.2%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 12.4%.

Median Sold Price Compared To Nearby Cities

Elkin Township
0.0%
Elkin
-3.4%

Housing Supply in Elkin Township, NC

How many homes are available in Elkin Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3944+12.8%

Summary: The Elkin Township real estate market had 44 homes for sale in May 2024, a 12.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 99
0.0%
3 2126
+23.8%
4 77
0.0%
5+ 00
0.0%

Summary: The Elkin Township 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 23.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkin Township, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Elkin Township in May 2024, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.

Days on Market for Elkin Township, NC

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

Average Sale Time

May 2023May 2024CHANGE
44 Days12 Days-73.0%

Summary: Homes in Elkin Township had an average of 12 days on market in May 2024, down by 73% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 7 homes were sold in Elkin Township; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Elkin Township, NC

Nearby Markets to Elkin Township, NC

What housing markets are near Elkin Township, NC?