Is Summerfield, 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, Summerfield has remained a Seller's Market.
Key Takeaway
Summerfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summerfield, NC
How much do homes in Summerfield, NC cost?
Median Sold Price
$585,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Summerfield have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Summerfield was $585,000 in May 2024, up 1.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145.5K | $180K | +23.7% |
| 2 Bedrooms | $275K | $207.4K | -24.6% |
| 3 Bedrooms | $422.9K | $420K | -0.7% |
| 4 Bedrooms | $700K | $750K | +7.1% |
| 5+ Bedrooms | $920K | $682.8K | -25.8% |
Summary: Summerfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.7%, 2 bedroom homes decreased by 24.6%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 25.8%.
Median Sold Price Compared To Nearby Cities
| Oak Ridge | $566.7K | $678.4K | +19.7% |
| Stokesdale | $440K | $460K | +4.5% |
| Bruce Township | $563K | $580K | +3.0% |
| Center Grove Township | $625K | $635K | +1.6% |
| Summerfield | $577.5K | $585K | +1.3% |
Housing Supply in Summerfield, NC
How many homes are available in Summerfield, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 74 | 79 | +6.8% |
Summary: The Summerfield real estate market had 79 homes for sale in May 2024, a 6.8% increase 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 48 | 49 | +2.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Summerfield 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 50%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 19 | +46.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summerfield, you could pay more than the asking price. 42.1% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Summerfield in May 2024, up by 46.2% month-over-month. Of the 19 sold homes, 37% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for Summerfield, NC
How long does it take to sell a home in Summerfield, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 40 Days | -24.3% |
Summary: Homes in Summerfield had an average of 40 days on market in May 2024, down by 24.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summerfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Summerfield; 74% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
