Is Spring Hope, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Hope is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Spring Hope has remained a Seller's Market.

Key Takeaway

Spring Hope is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Spring Hope, NC

How much do homes in Spring Hope, NC cost?

Median Sold Price

$296,750

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$3,150(-1.1%)

Key Takeaway

Homes in Spring Hope have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in Spring Hope was $296,750 in May 2024, down 1.1% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $160K$115K
-28.1%
3 $322.2K$287K
-10.9%
4 $294.3K$302.4K
+2.8%
5+ $320.4K$389.9K
+21.7%

Summary: Spring Hope 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 28.1%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 21.7%.

Median Sold Price Compared To Nearby Cities

Mannings Township
+25.6%
Spring Hope
-1.1%

Housing Supply in Spring Hope, NC

How many homes are available in Spring Hope, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3635-2.8%

Summary: The Spring Hope real estate market had 35 homes for sale in May 2024, a 2.8% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 22
0.0%
3 2222
0.0%
4 1211
-8.3%
5+ 00
0.0%

Summary: The Spring Hope 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 remained the same, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
58+60.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

7 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Hope, expect to pay close to the asking price. 87.5% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in Spring Hope in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 13% were sold under asking, 88% were sold at asking, and 0% were sold over asking.

Days on Market for Spring Hope, NC

How long does it take to sell a home in Spring Hope, NC?

Average Sale Time

May 2023May 2024CHANGE
78 Days14 Days-81.3%

Summary: Homes in Spring Hope had an average of 14 days on market in May 2024, down by 81.3% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Spring Hope are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 8 homes were sold in Spring Hope; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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