Is Richmond County, 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, Richmond County has remained a Seller's Market.
Key Takeaway
Richmond County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richmond County, NC
How much do homes in Richmond County, NC cost?
Median Sold Price
$170,000
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Richmond County have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Richmond County was $170,000 in May 2024, up 6.8% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $47.5K | -64.8% |
| 2 Bedrooms | $100.2K | $106.7K | +6.5% |
| 3 Bedrooms | $169.9K | $180K | +5.9% |
| 4 Bedrooms | $245K | $284.9K | +16.3% |
| 5+ Bedrooms | $250K | $299.9K | +20.0% |
Summary: Richmond County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.8%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Counties
| Anson County | $153.5K | $172K | +12.1% |
| Montgomery County | $214.7K | $233.1K | +8.6% |
| Moore County | $420.3K | $449.4K | +6.9% |
| Richmond County | $159.2K | $170K | +6.8% |
| Scotland County | $189.9K | $169.3K | -10.8% |
Housing Supply in Richmond County, NC
How many homes are available in Richmond County, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 106 | 105 | -0.9% |
Summary: The Richmond County real estate market had 105 homes for sale in May 2024, a 0.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 25 | 23 | -8.0% |
| 3 Bedrooms | 58 | 59 | +1.7% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Richmond County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond County, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Richmond County in May 2024, down by 4.3% month-over-month. Of the 22 sold homes, 41% were sold under asking, 32% were sold at asking, and 27% were sold over asking.
Days on Market for Richmond County, NC
How long does it take to sell a home in Richmond County, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 44 Days | +37.6% |
Summary: Homes in Richmond County had an average of 44 days on market in May 2024, up by 37.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Richmond County; 59% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.
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