Is Browns Summit, 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, Browns Summit has remained a Seller's Market.
Key Takeaway
Browns Summit is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Browns Summit, NC
How much do homes in Browns Summit, NC cost?
Median Sold Price
$329,900
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Browns Summit have sold for 3.7% less than they did a year ago.
Summary: The median home sold price in Browns Summit was $329,900 in May 2024, down 3.7% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $186K | N/A |
| 2 Bedrooms | $140K | $175K | +25.0% |
| 3 Bedrooms | $325K | $315K | -3.1% |
| 4 Bedrooms | $386.2K | $460K | +19.1% |
| 5+ Bedrooms | $338.7K | $471.5K | +39.2% |
Summary: Browns Summit 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 25%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 39.2%.
Median Sold Price Compared To Nearby Cities
| Washington Township | $247K | $265K | +7.3% |
| Madison Township | $259.9K | $277K | +6.6% |
| Mc Leansville | $292.5K | $305K | +4.3% |
| Monroe Township | $375K | $382.8K | +2.1% |
| Browns Summit | $342.7K | $329.9K | -3.7% |
Housing Supply in Browns Summit, NC
How many homes are available in Browns Summit, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 40 | +8.1% |
Summary: The Browns Summit real estate market had 40 homes for sale in May 2024, a 8.1% 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 | 1 | 0.0% |
| 3 Bedrooms | 13 | 19 | +46.2% |
| 4 Bedrooms | 22 | 19 | -13.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Browns Summit 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 increased by 46.2%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Browns Summit, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Browns Summit in May 2024, up by 62.5% month-over-month. Of the 13 sold homes, 54% were sold under asking, 15% were sold at asking, and 31% were sold over asking.
Days on Market for Browns Summit, NC
How long does it take to sell a home in Browns Summit, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 22 Days | -8.9% |
Summary: Homes in Browns Summit had an average of 22 days on market in May 2024, down by 8.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Browns Summit are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Browns Summit; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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