Is Drexel Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Drexel Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Drexel Township, NC

How much do homes in Drexel Township, NC cost?

Median Sold Price

$224,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$6,000(-2.6%)

Key Takeaway

Homes in Drexel Township have sold for 2.6% less than they did a year ago.

Summary: The median home sold price in Drexel Township was $224,000 in October 2024, down 2.6% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$239K
N/A
2 $186.4K$168.7K
-9.5%
3 $248.9K$249.9K
0.4%
4 $352.5K$280.5K
-20.4%
5+ $228K$352.5K
+54.6%

Summary: Drexel Township 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 decreased by 9.5%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 20.4%, and 5+ bedroom homes increased by 54.6%.

Median Sold Price Compared To Nearby Cities

Valdese
+7.8%
Lovelady Township
+5.1%
Drexel
+3.8%
Drexel Township
-2.6%

Housing Supply in Drexel Township, NC

How many homes are available in Drexel Township, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2526+4.0%

Summary: The Drexel Township real estate market had 26 homes for sale in October 2024, a 4.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 1616
0.0%
4 45
+25.0%
5+ 10
-100.0%

Summary: The Drexel Township 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 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

6 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 Drexel Township, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Drexel Township in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for Drexel Township, NC

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

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days33 Days+5.7%

Summary: Homes in Drexel Township had an average of 33 days on market in Oct 2024, up by 5.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Drexel Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 Drexel Township, NC

Nearby Markets to Drexel Township, NC

What housing markets are near Drexel Township, NC?