Is Mill Spring, 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, Mill Spring has remained a Seller's Market.
Key Takeaway
Mill Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mill Spring, NC
How much do homes in Mill Spring, NC cost?
Median Sold Price
$469,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mill Spring have sold for 5.5% less than they did a year ago.
Summary: The median home sold price in Mill Spring was $469,000 in May 2024, down 5.5% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $261.6K | $120K | -54.1% |
| 2 Bedrooms | $499K | $440K | -11.8% |
| 3 Bedrooms | $358K | $572K | +59.8% |
| 4 Bedrooms | $850K | $802.5K | -5.6% |
| 5+ Bedrooms | $1.5M | $329K | -78.1% |
Summary: Mill Spring housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.1%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 59.8%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 78.1%.
Median Sold Price Compared To Nearby Cities
| Columbus | $320K | $410K | +28.1% |
| Cooper Gap Township | $499K | $595K | +19.2% |
| Chimney Rock Township | $450K | $492.5K | +9.4% |
| Mill Spring | $496.5K | $469K | -5.5% |
| White Oak Township | $362.4K | $338K | -6.8% |
Housing Supply in Mill Spring, NC
How many homes are available in Mill Spring, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 43 | +22.9% |
Summary: The Mill Spring real estate market had 43 homes for sale in May 2024, a 22.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Mill Spring 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mill Spring, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Mill Spring in May 2024, up by 28.6% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Mill Spring, NC
How long does it take to sell a home in Mill Spring, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 71 Days | 93 Days | +31.8% |
Summary: Homes in Mill Spring had an average of 93 days on market in May 2024, up by 31.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mill Spring are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Mill Spring; 56% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.
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