Is McDowell County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, McDowell County was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $165K | -17.5% |
2 Bedrooms | $234.5K | $220K | -6.2% |
3 Bedrooms | $285K | $310K | +8.8% |
4 Bedrooms | $357.4K | $524.7K | +46.8% |
5+ Bedrooms | $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 | $241.4K | $280K | +16.0% |
McDowell County | $277.8K | $299.3K | +7.7% |
Rutherford County | $250K | $268.4K | +7.4% |
Yancey County | $330K | $350K | +6.1% |
Burke County | $241.3K | $254.9K | +5.6% |
Housing Supply in McDowell County, NC
How many homes are available in McDowell County, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
163 | 184 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 46 | 52 | +13.0% |
3 Bedrooms | 86 | 95 | +10.5% |
4 Bedrooms | 21 | 25 | +19.0% |
5+ Bedrooms | 5 | 6 | +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 2024 | May 2024 | CHANGE |
---|---|---|
39 | 21 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 104 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
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.