Is 28516, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 28516 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 28516 was a Seller's Market.

Key Takeaway

28516 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 28516, NC

How much do homes in 28516, NC cost?

Median Sold Price

$464,500

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$37,250(+8.7%)

Key Takeaway

Homes in 28516 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 28516 was $464,500 in October 2024, up 8.7% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $299K-
N/A
2 $297.5K$308.5K
+3.7%
3 $434.9K$460K
+5.8%
4 $542.9K$797.5K
+46.9%
5+ $612.2K$1.0M
+71.2%

Summary: 28516 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 46.9%, and 5+ bedroom homes increased by 71.2%.

Housing Supply in 28516, NC

How many homes are available in 28516, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
118131+11.0%

Summary: The 28516 real estate market had 131 homes for sale in October 2024, a 11.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 713
+85.7%
3 9092
+2.2%
4 1722
+29.4%
5+ 33
0.0%

Summary: The 28516 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 85.7%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1816-11.1%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 28516, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 28516 in October 2024, down by 11.1% month-over-month. Of the 16 sold homes, 56% were sold under asking, 38% were sold at asking, and 6% were sold over asking.

Days on Market for 28516, NC

How long does it take to sell a home in 28516, NC?

Average Sale Time

Oct 2023Oct 2024CHANGE
74 Days52 Days-29.4%

Summary: Homes in 28516 had an average of 52 days on market in Oct 2024, down by 29.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 28516 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 28516; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% 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 20 Days Ago

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