Is Midtown, 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, Midtown has remained a Seller's Market.
Key Takeaway
Midtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Midtown, NC
How much do homes in Midtown, NC cost?
Median Sold Price
$341,900
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Midtown have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Midtown was $341,900 in May 2024, up 10.3% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.5K | $212.5K | +60.4% |
| 2 Bedrooms | $223.7K | $250K | +11.7% |
| 3 Bedrooms | $319.3K | $400K | +25.3% |
| 4 Bedrooms | $617.5K | $530.5K | -14.1% |
| 5+ Bedrooms | $1.2M | $726.5K | -43.7% |
Summary: Midtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60.4%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 25.3%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 43.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Devon Park | $265K | $314K | +18.5% |
| Midtown | $310K | $341.9K | +10.3% |
Housing Supply in Midtown, NC
How many homes are available in Midtown, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 103 | +6.2% |
Summary: The Midtown real estate market had 103 homes for sale in May 2024, a 6.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 28 | 32 | +14.3% |
| 3 Bedrooms | 49 | 47 | -4.1% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Midtown 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 14.3%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Midtown in May 2024, down by 12.0% month-over-month. Of the 22 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Midtown, NC
How long does it take to sell a home in Midtown, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 21 Days | +122.9% |
Summary: Homes in Midtown had an average of 21 days on market in May 2024, up by 122.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Midtown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Midtown; 68% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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