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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burgaw is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Burgaw, NC

How much do homes in Burgaw, NC cost?

Median Sold Price

$279,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$21,000(-7.0%)

Key Takeaway

Homes in Burgaw have sold for 7% less than they did a year ago.

Summary: The median home sold price in Burgaw was $279,000 in October 2024, down 7% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $195K$235K
+20.5%
3 $314.9K$268.7K
-14.7%
4 $332K$342K
+3.0%
5+ $286.5K$390K
+36.1%

Summary: Burgaw 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 20.5%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 36.1%.

Median Sold Price Compared To Nearby Cities

Burgaw
-7.0%
Burgaw Township
-7.0%

Housing Supply in Burgaw, NC

How many homes are available in Burgaw, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
36360.0%

Summary: The Burgaw real estate market had 36 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 2420
-16.7%
4 69
+50.0%
5+ 00
0.0%

Summary: The Burgaw 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 16.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
73-57.1%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Burgaw in October 2024, down by 57.1% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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

Oct 2023Oct 2024CHANGE
64 Days46 Days-28.3%

Summary: Homes in Burgaw had an average of 46 days on market in Oct 2024, down by 28.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Burgaw has remained consistent over time.

Summary: During October 2024, 3 homes were sold in Burgaw; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in Burgaw, NC

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