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 October 2023

Since last year, Elkin Township has remained a Seller's 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

$264,000

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$34,000(+14.8%)

Key Takeaway

Homes in Elkin Township have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in Elkin Township was $264,000 in October 2024, up 14.8% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$167K
N/A
2 $160.5K$175K
+9.0%
3 $251.5K$285K
+13.3%
4 $309K$470K
+52.1%
5+ $355K$390K
+9.9%

Summary: Elkin 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 increased by 9%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 52.1%, and 5+ bedroom homes increased by 9.9%.

Median Sold Price Compared To Nearby Cities

State Road
+72.0%
Elkin Township
+14.8%
Elkin
+7.1%

Housing Supply in Elkin Township, NC

How many homes are available in Elkin Township, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5056+12.0%

Summary: The Elkin Township real estate market had 56 homes for sale in October 2024, a 12.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 911
+22.2%
3 2530
+20.0%
4 1413
-7.1%
5+ 22
0.0%

Summary: The Elkin 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 22.2%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
611+83.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 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. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Elkin Township in October 2024, up by 83.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% 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

Oct 2023Oct 2024CHANGE
19 Days28 Days+47.0%

Summary: Homes in Elkin Township had an average of 28 days on market in Oct 2024, up by 47% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 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 October 2024, 11 homes were sold in Elkin Township; 64% of homes were sold within 30 days, 36% 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 17 Days Ago

Newest Listings in Elkin Township, NC

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