Is Smithfield, 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, Smithfield has remained a Seller's Market.
Key Takeaway
Smithfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Smithfield, NC
How much do homes in Smithfield, NC cost?
Median Sold Price
$306,416
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Smithfield have sold for 4.2% less than they did a year ago.
Summary: The median home sold price in Smithfield was $306,416 in May 2024, down 4.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $162.5K | $179K | +10.2% |
| 3 Bedrooms | $300K | $299.2K | -0.3% |
| 4 Bedrooms | $394.9K | $372.5K | -5.7% |
| 5+ Bedrooms | $439.7K | $436.1K | -0.8% |
Summary: Smithfield 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 10.2%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Selma Township | $305.9K | $298K | -2.6% |
| Smithfield Township | $321.7K | $312.2K | -2.9% |
| Selma | $309K | $298.9K | -3.3% |
| Smithfield | $320K | $306.4K | -4.2% |
| Wilson Mills Township | $351.6K | $330K | -6.2% |
Housing Supply in Smithfield, NC
How many homes are available in Smithfield, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 141 | 139 | -1.4% |
Summary: The Smithfield real estate market had 139 homes for sale in May 2024, a 1.4% 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 | 4 | 8 | +100.0% |
| 3 Bedrooms | 96 | 87 | -9.4% |
| 4 Bedrooms | 36 | 39 | +8.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Smithfield 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 increased by 100%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 33 | +17.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smithfield, expect to pay close to the asking price. 51.5% of homes here sold near the asking price last month.
Summary: A total of 33 homes were sold or pending in Smithfield in May 2024, up by 17.9% month-over-month. Of the 33 sold homes, 30% were sold under asking, 52% were sold at asking, and 18% were sold over asking.
Days on Market for Smithfield, NC
How long does it take to sell a home in Smithfield, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 27 Days | -66.2% |
Summary: Homes in Smithfield had an average of 27 days on market in May 2024, down by 66.2% compared to last year.
Breakdown of Home Sale Times
24 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 Smithfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Smithfield; 73% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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