Listing Office: Coldwell Banker Boyd & Hassell
Is Lake Rhodhiss Area, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lake Rhodhiss Area has remained a Seller's Market.
Key Takeaway
Lake Rhodhiss Area is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Rhodhiss Area, NC
How much do homes in Lake Rhodhiss Area, NC cost?
Median Sold Price
$279,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$50,900(-15.4%)
Key Takeaway
Homes in Lake Rhodhiss Area have sold for 15.4% less than they did a year ago.
Summary: The median home sold price in Lake Rhodhiss Area was $279,000 in October 2024, down 15.4% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $278K | $180K | -35.3% |
| 3 Bedrooms | $307.4K | $295K | -4.0% |
| 4 Bedrooms | $345.5K | $276K | -20.1% |
| 5+ Bedrooms | $657.5K | - | N/A |
Summary: Lake Rhodhiss Area 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 35.3%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 20.1%, and 5+ bedroom homes did not change.
Housing Supply in Lake Rhodhiss Area, NC
How many homes are available in Lake Rhodhiss Area, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 27 | -10.0% |
Summary: The Lake Rhodhiss Area real estate market had 27 homes for sale in October 2024, a 10.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 16 | 14 | -12.5% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lake Rhodhiss Area 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Rhodhiss Area, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Lake Rhodhiss Area in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Lake Rhodhiss Area, NC
How long does it take to sell a home in Lake Rhodhiss Area, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 53 Days | +368.3% |
Summary: Homes in Lake Rhodhiss Area had an average of 53 days on market in Oct 2024, up by 368.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Rhodhiss Area has remained consistent over time.
Summary: During October 2024, 7 homes were sold in Lake Rhodhiss Area; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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