Is Northwest Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Northwest Township was a Seller's Market.
Key Takeaway
Northwest 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 Northwest Township, NC
How much do homes in Northwest Township, NC cost?
Median Sold Price
$356,412
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest Township have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Northwest Township was $356,412 in May 2024, up 1.8% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $249.7K | -0.1% |
| 3 Bedrooms | $323K | $335K | +3.7% |
| 4 Bedrooms | $379.9K | $555K | +46.1% |
| 5+ Bedrooms | $440K | $440K | 0% |
Summary: Northwest 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 decreased by 0.1%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 46.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Leland | $372.4K | $404.6K | +8.7% |
| Northwest Township | $350K | $356.4K | +1.8% |
Housing Supply in Northwest Township, NC
How many homes are available in Northwest Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 113 | 108 | -4.4% |
Summary: The Northwest Township real estate market had 108 homes for sale in May 2024, a 4.4% decrease 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 63 | 62 | -1.6% |
| 4 Bedrooms | 42 | 39 | -7.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Northwest 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 decreased by 20%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 17 | -26.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Township, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Northwest Township in May 2024, down by 26.1% month-over-month. Of the 17 sold homes, 53% were sold under asking, 35% were sold at asking, and 12% were sold over asking.
Days on Market for Northwest Township, NC
How long does it take to sell a home in Northwest Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 62 Days | -5.8% |
Summary: Homes in Northwest Township had an average of 62 days on market in May 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Northwest Township; 53% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
