Is Wallace, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Wallace was a Seller's Market.
Key Takeaway
Wallace is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wallace, NC
How much do homes in Wallace, NC cost?
Median Sold Price
$264,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wallace have sold for 22.8% more than they did a year ago.
Summary: The median home sold price in Wallace was $264,000 in May 2024, up 22.8% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $147.5K | $138K | -6.4% |
| 3 Bedrooms | $200K | $253K | +26.5% |
| 4 Bedrooms | $557.5K | $625.5K | +12.2% |
| 5+ Bedrooms | $390K | $700K | +79.5% |
Summary: Wallace 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 6.4%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 79.5%.
Median Sold Price Compared To Nearby Cities
| Union Township | $227.5K | $291.9K | +28.3% |
| Island Creek Township | $199.9K | $252K | +26.1% |
| Wallace | $215K | $264K | +22.8% |
| Willard | $220K | $265K | +20.5% |
Housing Supply in Wallace, NC
How many homes are available in Wallace, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 70 | +18.6% |
Summary: The Wallace real estate market had 70 homes for sale in May 2024, a 18.6% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 30 | 31 | +3.3% |
| 4 Bedrooms | 25 | 31 | +24.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Wallace 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 200%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wallace, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Wallace in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Wallace, NC
How long does it take to sell a home in Wallace, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 58 Days | 45 Days | -22.1% |
Summary: Homes in Wallace had an average of 45 days on market in May 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wallace are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Wallace; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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