Is McDowell County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McDowell County is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, McDowell County was a Seller's Market.

Key Takeaway

McDowell County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in McDowell County, NC

How much do homes in McDowell County, NC cost?

Median Sold Price

$299,333

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$21,499(+7.7%)

Key Takeaway

Homes in McDowell County have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in McDowell County was $299,333 in May 2024, up 7.7% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $200K$165K
-17.5%
2 $234.5K$220K
-6.2%
3 $285K$310K
+8.8%
4 $357.4K$524.7K
+46.8%
5+ $465K$341.2K
-26.6%

Summary: McDowell County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.5%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 46.8%, and 5+ bedroom homes decreased by 26.6%.

Median Sold Price Compared To Nearby Counties

Mitchell County
+16.0%
McDowell County
+7.7%
Rutherford County
+7.4%
Yancey County
+6.1%
Burke County
+5.6%

Housing Supply in McDowell County, NC

How many homes are available in McDowell County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
163184+12.9%

Summary: The McDowell County real estate market had 184 homes for sale in May 2024, a 12.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 56
+20.0%
2 4652
+13.0%
3 8695
+10.5%
4 2125
+19.0%
5+ 56
+20.0%

Summary: The McDowell County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3921-46.2%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McDowell County, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in McDowell County in May 2024, down by 46.2% month-over-month. Of the 21 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for McDowell County, NC

How long does it take to sell a home in McDowell County, NC?

Average Sale Time

May 2023May 2024CHANGE
24 Days104 Days+328.4%

Summary: Homes in McDowell County had an average of 104 days on market in May 2024, up by 328.4% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in McDowell County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 21 homes were sold in McDowell County; 48% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in McDowell County, NC

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