$4,845 Closing Credit*
$408,000
2,601 SqFt
4 Beds
•3 Full Baths, 1 Partial
Beth Glidewell, Listing Office: Keller Williams Central
Is Elon, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$339,400
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,600(-1.6%)
Key Takeaway
Homes in Elon have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Elon was $339,400 in October 2024, down 1.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.5K | $240K | +39.1% |
| 3 Bedrooms | $292K | $325K | +11.3% |
| 4 Bedrooms | $400K | $360K | -10.0% |
| 5+ Bedrooms | $487.7K | $530K | +8.7% |
Summary: Elon 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 39.1%, 3 bedroom homes increased by 11.3%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Gibsonville | $294K | $331K | +12.6% |
| Burlington | $265K | $271.6K | +2.5% |
| Elon | $345K | $339.4K | -1.6% |
Housing Supply in Elon, NC
How many homes are available in Elon, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 40 | +14.3% |
Summary: The Elon real estate market had 40 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Elon 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 decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 12 | +140.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elon, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Elon in October 2024, up by 140.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 25% were sold at asking, and 17% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -25.0% |
Summary: Homes in Elon had an average of 21 days on market in Oct 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elon are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Elon; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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