Is 28031, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 28031 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 28031 has remained a Seller's Market.

Key Takeaway

28031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 28031, NC

How much do homes in 28031, NC cost?

Median Sold Price

$539,400

$272/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$39,400(+7.9%)

Key Takeaway

Homes in 28031 have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in 28031 was $539,400 in November 2024, up 7.9% from last year, and the median price per square foot was $272.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $539K$190.2K
-64.7%
2 $320K$320.2K
0.1%
3 $487K$522K
+7.2%
4 $765K$721.5K
-5.7%
5+ $1.5M$1.5M
+1.0%

Summary: 28031 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.7%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Zip Codes

28037
+8.5%
28031
+7.9%
28078
+4.0%
28117
-0.1%
28036
-2.5%

Housing Supply in 28031, NC

How many homes are available in 28031, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
198190-4.0%

Summary: The 28031 real estate market had 190 homes for sale in November 2024, a 4.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 02
+100.0%
2 3634
-5.6%
3 106100
-5.7%
4 3028
-6.7%
5+ 2626
0.0%

Summary: The 28031 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5239-25.0%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 28031, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in 28031 in November 2024, down by 25.0% month-over-month. Of the 39 sold homes, 77% were sold under asking, 21% were sold at asking, and 3% were sold over asking.

Days on Market for 28031, NC

How long does it take to sell a home in 28031, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days41 Days+13.0%

Summary: Homes in 28031 had an average of 41 days on market in Nov 2024, up by 13% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 28031 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 39 homes were sold in 28031; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% 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 17 Days Ago

Newest Listings in 28031, NC

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