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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in King, NC

How much do homes in King, NC cost?

Median Sold Price

$290,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,000(+3.6%)

Key Takeaway

Homes in King have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in King was $290,000 in October 2024, up 3.6% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$116K
N/A
2 $240K$200K
-16.7%
3 $260K$268.3K
+3.2%
4 $409.9K$369.4K
-9.9%
5+ $402.4K$389.3K
-3.2%

Summary: King housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes decreased by 3.2%.

Median Sold Price Compared To Nearby Cities

Bethania Township
+5.8%
Old Richmond Township
+5.6%
King
+3.6%
Yadkin Township
+1.7%
Tobaccoville
+0.9%

Housing Supply in King, NC

How many homes are available in King, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8188+8.6%

Summary: The King real estate market had 88 homes for sale in October 2024, a 8.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1110
-9.1%
3 5258
+11.5%
4 1719
+11.8%
5+ 11
0.0%

Summary: The King housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1121+90.9%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 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. 61.9% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in King in October 2024, up by 90.9% month-over-month. Of the 21 sold homes, 62% were sold under asking, 10% were sold at asking, and 29% 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

Oct 2023Oct 2024CHANGE
28 Days26 Days-4.4%

Summary: Homes in King had an average of 26 days on market in Oct 2024, down by 4.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 21 homes were sold in King; 76% of homes were sold within 30 days, 19% 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 20 Days Ago

Newest Listings in King, NC

Nearby Markets to King, NC

What housing markets are near King, NC?