Is Hot Springs, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Hot Springs has remained a Neutral Market.
Key Takeaway
Hot Springs is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Hot Springs, NC
How much do homes in Hot Springs, NC cost?
Median Sold Price
$434,500
$174/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Hot Springs have sold for 8% less than they did a month ago.
Summary: The median home sold price in Hot Springs was $434,500 in May 2024, down 8% from last month, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $345K | $434.5K | +25.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $600K | - | N/A |
Summary: Hot Springs housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 25.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Hot Springs, NC
How many homes are available in Hot Springs, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Summary: The Hot Springs real estate market had 14 homes for sale in May 2024, a 16.7% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Hot Springs 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hot Springs, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Hot Springs in May 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Hot Springs, NC
How long does it take to sell a home in Hot Springs, NC?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 69 Days | 158 Days | +129.0% |
Summary: Homes in Hot Springs had an average of 158 days on market in May 2024, up by 129% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Hot Springs are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 2 homes were sold in Hot Springs; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
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