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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mitchell County is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Mitchell County, NC

How much do homes in Mitchell County, NC cost?

Median Sold Price

$280,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$38,600(+16.0%)

Key Takeaway

Homes in Mitchell County have sold for 16% more than they did a year ago.

Summary: The median home sold price in Mitchell County was $280,000 in May 2024, up 16% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $169K$242.5K
+43.5%
2 $210K$235K
+11.9%
3 $280K$260K
-7.1%
4 $299.7K$392.5K
+31.0%
5+ $275K$594.5K
+116.2%

Summary: Mitchell County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.5%, 2 bedroom homes increased by 11.9%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 116.2%.

Median Sold Price Compared To Nearby Counties

Mitchell County
+16.0%
Unicoi County
+12.9%
McDowell County
+7.7%
Yancey County
+6.1%
Avery County
-13.0%

Housing Supply in Mitchell County, NC

How many homes are available in Mitchell County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7186+21.1%

Summary: The Mitchell County real estate market had 86 homes for sale in May 2024, a 21.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 32
-33.3%
2 2126
+23.8%
3 3645
+25.0%
4 89
+12.5%
5+ 34
+33.3%

Summary: The Mitchell County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mitchell County, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Mitchell County in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Mitchell County, NC

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

Average Sale Time

May 2023May 2024CHANGE
65 Days77 Days+18.9%

Summary: Homes in Mitchell County had an average of 77 days on market in May 2024, up by 18.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Mitchell County has remained consistent over time.

Summary: During May 2024, 7 homes were sold in Mitchell County; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% 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 Mitchell County, NC

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