Is Richlands Township, 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, Richlands Township has remained a Seller's Market.
Key Takeaway
Richlands Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richlands Township, NC
How much do homes in Richlands Township, NC cost?
Median Sold Price
$260,583
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Richlands Township have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Richlands Township was $260,583 in May 2024, up 6.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $45K | - | N/A |
| 2 Bedrooms | $127.5K | $175K | +37.3% |
| 3 Bedrooms | $239.9K | $254.6K | +6.1% |
| 4 Bedrooms | $302K | $317.5K | +5.1% |
| 5+ Bedrooms | $382.5K | $399.9K | +4.6% |
Summary: Richlands Township 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 37.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Richlands Township | $245K | $260.5K | +6.4% |
| Richlands | $243K | $257.1K | +5.8% |
| Jacksonville Township | $236K | $249.2K | +5.6% |
| Hofmann Forest | $340K | $359K | +5.6% |
Housing Supply in Richlands Township, NC
How many homes are available in Richlands Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 227 | 243 | +7.0% |
Summary: The Richlands Township real estate market had 243 homes for sale in May 2024, a 7.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 151 | 162 | +7.3% |
| 4 Bedrooms | 55 | 57 | +3.6% |
| 5+ Bedrooms | 19 | 18 | -5.3% |
Summary: The Richlands Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 61 | +27.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richlands Township, expect to pay close to the asking price. 55.7% of homes here sold near the asking price last month.
Summary: A total of 61 homes were sold or pending in Richlands Township in May 2024, up by 27.1% month-over-month. Of the 61 sold homes, 31% were sold under asking, 56% were sold at asking, and 13% were sold over asking.
Days on Market for Richlands Township, NC
How long does it take to sell a home in Richlands Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 44 Days | +73.0% |
Summary: Homes in Richlands Township had an average of 44 days on market in May 2024, up by 73% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richlands Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 61 homes were sold in Richlands Township; 57% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
