Is Institute Township, 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, Institute Township has remained a Seller's Market.
Housing Prices in Institute Township, NC
How much do homes in Institute Township, NC cost?
Median Sold Price
$231,990
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Institute Township was $231,990 in May 2024, up 10.5% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $126K | - | N/A |
3 Bedrooms | $208.9K | $231.9K | +11.0% |
4 Bedrooms | $217.9K | $234K | +7.3% |
5+ Bedrooms | - | - | N/A |
Summary: Institute Township 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 did not change, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Vance Township | $131.2K | $152K | +15.9% |
Institute Township | $209.9K | $231.9K | +10.5% |
Falling Creek Township | $197K | $215K | +9.1% |
Moseley Hall Township | $250.1K | $250K | -0.1% |
Housing Supply in Institute Township, NC
How many homes are available in Institute Township, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Summary: The Institute Township real estate market had 7 homes for sale in May 2024, a 22.2% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 5 | 4 | -20.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Institute Township 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Institute Township in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Institute Township, NC
How long does it take to sell a home in Institute Township, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
224 Days | 83 Days | -62.7% |
Summary: Homes in Institute Township had an average of 83 days on market in May 2024, down by 62.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Institute Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.