Is Preston, 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, Preston has remained a Seller's Market.
Key Takeaway
Preston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Preston, NC
How much do homes in Preston, NC cost?
Median Sold Price
$660,000
$286/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Preston have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Preston was $660,000 in May 2024, up 3.3% from last year, and the median price per square foot was $286.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $431K | N/A |
| 2 Bedrooms | $360K | $426K | +18.3% |
| 3 Bedrooms | $610K | $620K | +1.6% |
| 4 Bedrooms | $900K | $1.0M | +19.0% |
| 5+ Bedrooms | $1.2M | $1.2M | +6.3% |
Summary: Preston 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 18.3%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 6.3%.
Housing Supply in Preston, NC
How many homes are available in Preston, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 36 | 0.0% |
Summary: The Preston real estate market had 36 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 6 | 15 | +150.0% |
| 4 Bedrooms | 16 | 11 | -31.3% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Preston 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 40%, 3 bedroom homes increased by 150%, 4 bedroom homes decreased by 31.3%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Preston, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Preston in May 2024, down by 44.4% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Preston, NC
How long does it take to sell a home in Preston, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 45 Days | 9 Days | -78.6% |
Summary: Homes in Preston had an average of 9 days on market in May 2024, down by 78.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Preston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Preston; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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