Is King, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, King was a Seller's Market.

Key Takeaway

King is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in King, NC

How much do homes in King, NC cost?

Median Sold Price

$286,995

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$6,995(+2.5%)

Key Takeaway

Homes in King have sold for 2.5% more than they did a year ago.

Summary: The median home sold price in King was $286,995 in September 2024, up 2.5% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$116K
N/A
2 $222.4K$207.5K
-6.7%
3 $260.7K$260K
-0.3%
4 $409.9K$368K
-10.2%
5+ $385K$408K
+6.0%

Summary: King housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 6%.

Median Sold Price Compared To Nearby Cities

Tobaccoville
+10.7%
Bethania Township
+7.5%
Old Richmond Township
+5.6%
King
+2.5%
Yadkin Township
-1.2%

Housing Supply in King, NC

How many homes are available in King, NC?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7778+1.3%

Summary: The King real estate market had 78 homes for sale in September 2024, a 1.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1111
0.0%
3 4950
+2.0%
4 1616
0.0%
5+ 11
0.0%

Summary: The King housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2110-52.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in King, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in King in September 2024, down by 52.4% month-over-month. Of the 10 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for King, NC

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

Average Sale Time

Sep 2023Sep 2024CHANGE
32 Days16 Days-48.4%

Summary: Homes in King had an average of 16 days on market in Sep 2024, down by 48.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in King are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 10 homes were sold in King; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

Newest Listings in King, NC

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