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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burgaw is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Burgaw, NC

How much do homes in Burgaw, NC cost?

Median Sold Price

$280,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$22,450(-7.4%)

Key Takeaway

Homes in Burgaw have sold for 7.4% less than they did a year ago.

Summary: The median home sold price in Burgaw was $280,000 in November 2024, down 7.4% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $202.5K$235K
+16.0%
3 $314.9K$277K
-12.0%
4 $334K$345.9K
+3.6%
5+ $390K-
N/A

Summary: Burgaw housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16%, 3 bedroom homes decreased by 12%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Burgaw
-7.4%
Burgaw Township
-7.4%

Housing Supply in Burgaw, NC

How many homes are available in Burgaw, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3541+17.1%

Summary: The Burgaw real estate market had 41 homes for sale in November 2024, a 17.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 66
0.0%
3 2019
-5.0%
4 916
+77.8%
5+ 00
0.0%

Summary: The Burgaw housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 77.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
410+150.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burgaw, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Burgaw in November 2024, up by 150.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.

Days on Market for Burgaw, NC

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

Average Sale Time

Nov 2023Nov 2024CHANGE
14 Days41 Days+196.4%

Summary: Homes in Burgaw had an average of 41 days on market in Nov 2024, up by 196.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 10 homes were sold in Burgaw; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 21 Days Ago

Newest Listings in Burgaw, NC

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