$3,497 Closing Credit*
$294,470
1,528 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Meritage Homes of the Carolinas
Is Albemarle, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Albemarle was a Seller's Market.
Key Takeaway
Albemarle is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Albemarle, NC
How much do homes in Albemarle, NC cost?
Median Sold Price
$276,160
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$36,160(+15.1%)
Key Takeaway
Homes in Albemarle have sold for 15.1% more than they did a year ago.
Summary: The median home sold price in Albemarle was $276,160 in October 2024, up 15.1% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $99.5K | N/A |
| 2 Bedrooms | $156K | $187.4K | +20.1% |
| 3 Bedrooms | $247K | $280K | +13.4% |
| 4 Bedrooms | $315.1K | $324.2K | +2.9% |
| 5+ Bedrooms | $327.5K | $437.5K | +33.6% |
Summary: Albemarle 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 20.1%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 33.6%.
Median Sold Price Compared To Nearby Cities
| South Albemarle Township | $239.2K | $281K | +17.5% |
| Albemarle | $240K | $276.1K | +15.1% |
| North Albemarle Township | $237.9K | $257.9K | +8.4% |
| Harris Township | $285K | $295.6K | +3.7% |
Housing Supply in Albemarle, NC
How many homes are available in Albemarle, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 195 | 215 | +10.3% |
Summary: The Albemarle real estate market had 215 homes for sale in October 2024, a 10.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 20 | 24 | +20.0% |
| 3 Bedrooms | 136 | 146 | +7.4% |
| 4 Bedrooms | 26 | 31 | +19.2% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Albemarle 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 20%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 35 | +34.6% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albemarle, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Albemarle in October 2024, up by 34.6% month-over-month. Of the 35 sold homes, 51% were sold under asking, 31% were sold at asking, and 17% were sold over asking.
Days on Market for Albemarle, NC
How long does it take to sell a home in Albemarle, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 75 Days | +22.1% |
Summary: Homes in Albemarle had an average of 75 days on market in Oct 2024, up by 22.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Albemarle are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 35 homes were sold in Albemarle; 31% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
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