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 November 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

$430,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$76,250(+21.6%)

Key Takeaway

Homes in Farmington Township have sold for 21.6% more than they did a year ago.

Summary: The median home sold price in Farmington Township was $430,000 in November 2024, up 21.6% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$103.5K
N/A
2 $179K$186.5K
+4.2%
3 $374K$425K
+13.6%
4 $537.5K$641.2K
+19.3%
5+ $520K$815.5K
+56.8%

Summary: Farmington 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 4.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 56.8%.

Median Sold Price Compared To Nearby Cities

Bermuda Run
+61.6%
Farmington Township
+21.6%
Advance
+18.0%
Mocksville Township
+8.0%
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

Oct 2024Nov 2024CHANGE
9491-3.2%

Summary: The Farmington Township real estate market had 91 homes for sale in November 2024, a 3.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 23
+50.0%
2 1915
-21.1%
3 3942
+7.7%
4 2421
-12.5%
5+ 1010
0.0%

Summary: The Farmington Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1417+21.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were 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. 41.2% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Farmington Township in November 2024, up by 21.4% month-over-month. Of the 17 sold homes, 41% were sold under asking, 41% were sold at asking, and 18% 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

Nov 2023Nov 2024CHANGE
43 Days34 Days-21.4%

Summary: Homes in Farmington Township had an average of 34 days on market in Nov 2024, down by 21.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 November 2024, 17 homes were sold in Farmington Township; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% 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 2 Days Ago

Newest Listings in Farmington Township, NC

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What housing markets are near Farmington Township, NC?