$3,444 Closing Credit*
$290,000
1,357 SqFt
3 Beds
•1 Full Bath, 1 Partial
Shannon Elizabeth Wrenn, Listing Office: EXP Realty LLC
Is Elon, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Elon has remained a Seller's Market.
Key Takeaway
Elon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elon, NC
How much do homes in Elon, NC cost?
Median Sold Price
$349,700
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$300(-0.1%)
Key Takeaway
The sold price of homes in Elon has remained the same since last year.
Summary: The median home sold price in Elon was $349,700 in November 2024, down 0.1% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $200K | $210K | +5.0% |
| 3 Bedrooms | $295K | $325K | +10.2% |
| 4 Bedrooms | $379K | $462.5K | +22.0% |
| 5+ Bedrooms | $510K | $520K | +2.0% |
Summary: Elon 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 5%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Gibsonville | $294.5K | $334.9K | +13.7% |
| Burlington | $264.7K | $275K | +3.9% |
| Elon | $350K | $349.7K | -0.1% |
Housing Supply in Elon, NC
How many homes are available in Elon, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 40 | -2.4% |
Summary: The Elon real estate market had 40 homes for sale in November 2024, a 2.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Elon 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 16.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elon, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Elon in November 2024, down by 16.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Elon, NC
How long does it take to sell a home in Elon, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 39 Days | +58.6% |
Summary: Homes in Elon had an average of 39 days on market in Nov 2024, up by 58.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elon are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Elon; 70% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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