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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmington Township is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Farmington Township, NC

How much do homes in Farmington Township, NC cost?

Median Sold Price

$425,000

$179/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$70,625(+19.9%)

Key Takeaway

Homes in Farmington Township have sold for 19.9% more than they did a year ago.

Summary: The median home sold price in Farmington Township was $425,000 in December 2024, up 19.9% from last year, and the median price per square foot was $179.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$103.5K
N/A
2 $184K$189K
+2.7%
3 $374.5K$425K
+13.5%
4 $537.5K$632.5K
+17.7%
5+ $523.5K$800K
+52.8%

Summary: Farmington Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 52.8%.

Median Sold Price Compared To Nearby Cities

Bermuda Run
+59.2%
Farmington Township
+19.9%
Advance
+15.2%
Mocksville Township
+11.3%
Shady Grove Township
+7.7%

Housing Supply in Farmington Township, NC

How many homes are available in Farmington Township, NC?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
9082-8.9%

Summary: The Farmington Township real estate market had 82 homes for sale in December 2024, a 8.9% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 22
0.0%
2 1312
-7.7%
3 4239
-7.1%
4 2322
-4.3%
5+ 107
-30.0%

Summary: The Farmington Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1821+16.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmington Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Farmington Township in December 2024, up by 16.7% month-over-month. Of the 21 sold homes, 57% were sold under asking, 38% were sold at asking, and 5% were sold over asking.

Days on Market for Farmington Township, NC

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

Average Sale Time

Dec 2023Dec 2024CHANGE
56 Days18 Days-67.5%

Summary: Homes in Farmington Township had an average of 18 days on market in Dec 2024, down by 67.5% compared to last year.

Breakdown of Home Sale Times

18 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 Farmington Township are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 21 homes were sold in Farmington Township; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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 4 Days Ago

Newest Listings in Farmington Township, NC

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What housing markets are near Farmington Township, NC?