Is Hope Mills, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hope Mills has remained a Seller's Market.
Key Takeaway
Hope Mills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hope Mills, NC
How much do homes in Hope Mills, NC cost?
Median Sold Price
$268,250
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hope Mills have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Hope Mills was $268,250 in May 2024, up 5.2% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $140K | $140.5K | 0.4% |
| 3 Bedrooms | $215.8K | $235.7K | +9.2% |
| 4 Bedrooms | $312K | $315K | +1.0% |
| 5+ Bedrooms | $375K | $382.5K | +2.0% |
Summary: Hope Mills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Pearces Mill Township | $190K | $210K | +10.5% |
| Rockfish Township | $235K | $250.4K | +6.6% |
| Hope Mills | $255K | $268.2K | +5.2% |
| Fayetteville | $214.6K | $225K | +4.9% |
Housing Supply in Hope Mills, NC
How many homes are available in Hope Mills, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 227 | 220 | -3.1% |
Summary: The Hope Mills real estate market had 220 homes for sale in May 2024, a 3.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 115 | 105 | -8.7% |
| 4 Bedrooms | 88 | 94 | +6.8% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Hope Mills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 56 | -8.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hope Mills, expect to pay close to the asking price. 44.6% of homes here sold near the asking price last month.
Summary: A total of 56 homes were sold or pending in Hope Mills in May 2024, down by 8.2% month-over-month. Of the 56 sold homes, 27% were sold under asking, 45% were sold at asking, and 29% were sold over asking.
Days on Market for Hope Mills, NC
How long does it take to sell a home in Hope Mills, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 21 Days | -67.6% |
Summary: Homes in Hope Mills had an average of 21 days on market in May 2024, down by 67.6% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hope Mills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 56 homes were sold in Hope Mills; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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