Is Gates County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gates County is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Gates County has remained a Seller's Market.

Key Takeaway

Gates County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gates County, NC

How much do homes in Gates County, NC cost?

Median Sold Price

$178,750

$107/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$112,250(-38.6%)

Key Takeaway

Homes in Gates County have sold for 38.6% less than they did a month ago.

Summary: The median home sold price in Gates County was $178,750 in May 2024, down 38.6% from last month, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 -$40.1K
N/A
3 $303K$277.5K
-8.4%
4 $289K$142.5K
-50.7%
5+ --
N/A

Summary: Gates County housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 50.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Perquimans County
+11.1%
Pasquotank County
-1.5%
Hertford County
-4.7%
Gates County
-38.6%

Housing Supply in Gates County, NC

How many homes are available in Gates County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3034+13.3%

Summary: The Gates County real estate market had 34 homes for sale in May 2024, a 13.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1920
+5.3%
4 69
+50.0%
5+ 00
0.0%

Summary: The Gates County 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 5.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
106-40.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gates County, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Gates County in May 2024, down by 40.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Gates County, NC

How long does it take to sell a home in Gates County, NC?

Average Sale Time

Apr 2024May 2024CHANGE
37 Days42 Days+13.2%

Summary: Homes in Gates County had an average of 42 days on market in May 2024, up by 13.2% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Gates County; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 Gates County, NC

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