Is Locust, 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, Locust has remained a Seller's Market.
Key Takeaway
Locust is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Locust, NC
How much do homes in Locust, NC cost?
Median Sold Price
$398,090
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Locust have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Locust was $398,090 in May 2024, up 5.2% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $59.5K | -55.9% |
| 2 Bedrooms | $264.5K | $305K | +15.3% |
| 3 Bedrooms | $359K | $360K | 0.3% |
| 4 Bedrooms | $425K | $427K | 0.5% |
| 5+ Bedrooms | $512K | $407.2K | -20.5% |
Summary: Locust housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.9%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 20.5%.
Median Sold Price Compared To Nearby Cities
| Furr Township | $365K | $385K | +5.5% |
| Locust | $378.5K | $398K | +5.2% |
| Midland | $389K | $390K | 0.3% |
| Stanfield | $394K | $387K | -1.8% |
Housing Supply in Locust, NC
How many homes are available in Locust, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 71 | 0.0% |
Summary: The Locust real estate market had 71 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 32 | 31 | -3.1% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Locust 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 decreased by 50%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in Locust in May 2024, up by 23.1% month-over-month. Of the 16 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Locust, NC
How long does it take to sell a home in Locust, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 76 Days | 36 Days | -52.6% |
Summary: Homes in Locust had an average of 36 days on market in May 2024, down by 52.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Locust are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Locust; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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