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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkin Township is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Elkin Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Elkin Township, NC

How much do homes in Elkin Township, NC cost?

Median Sold Price

$260,000

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$43,050(+19.8%)

Key Takeaway

Homes in Elkin Township have sold for 19.8% more than they did a year ago.

Summary: The median home sold price in Elkin Township was $260,000 in November 2024, up 19.8% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$167K
N/A
2 $160.5K$185K
+15.3%
3 $243.5K$282K
+15.8%
4 $341.5K$360K
+5.4%
5+ $355K$390K
+9.9%

Summary: Elkin Township 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 15.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 9.9%.

Median Sold Price Compared To Nearby Cities

State Road
+54.4%
Elkin Township
+19.8%
Elkin
+17.1%
Bryan Township
+9.0%

Housing Supply in Elkin Township, NC

How many homes are available in Elkin Township, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5752-8.8%

Summary: The Elkin Township real estate market had 52 homes for sale in November 2024, a 8.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1214
+16.7%
3 2925
-13.8%
4 1413
-7.1%
5+ 20
-100.0%

Summary: The Elkin Township 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 increased by 16.7%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkin 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 14 homes were sold or pending in Elkin Township in November 2024, up by 27.3% month-over-month. Of the 14 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for Elkin Township, NC

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

Average Sale Time

Nov 2023Nov 2024CHANGE
28 Days41 Days+45.4%

Summary: Homes in Elkin Township had an average of 41 days on market in Nov 2024, up by 45.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 14 homes were sold in Elkin Township; 43% of homes were sold within 30 days, 43% 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 Elkin Township, NC

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