Is Troutman, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Troutman is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Troutman, NC

How much do homes in Troutman, NC cost?

Median Sold Price

$383,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$19,500(-4.8%)

Key Takeaway

Homes in Troutman have sold for 4.8% less than they did a year ago.

Summary: The median home sold price in Troutman was $383,000 in May 2024, down 4.8% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$227.5K
N/A
2 $68K$247.5K
+264.0%
3 $343.9K$359.9K
+4.7%
4 $449.1K$401.7K
-10.6%
5+ $445K$470K
+5.6%

Summary: Troutman 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 264%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 5.6%.

Median Sold Price Compared To Nearby Cities

Statesville Township
+15.0%
Barringer Township
-0.6%
Fallstown Township
-1.7%
Troutman
-4.8%

Housing Supply in Troutman, NC

How many homes are available in Troutman, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
150167+11.3%

Summary: The Troutman real estate market had 167 homes for sale in May 2024, a 11.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 34
+33.3%
3 6479
+23.4%
4 5962
+5.1%
5+ 2321
-8.7%

Summary: The Troutman 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 33.3%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 8.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2531+24.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Troutman, you may be able to get a good deal. 51.6% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Troutman in May 2024, up by 24.0% month-over-month. Of the 31 sold homes, 52% were sold under asking, 39% were sold at asking, and 10% were sold over asking.

Days on Market for Troutman, NC

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

Average Sale Time

May 2023May 2024CHANGE
53 Days66 Days+23.9%

Summary: Homes in Troutman had an average of 66 days on market in May 2024, up by 23.9% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 31 homes were sold in Troutman; 42% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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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