Is Mitchell County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mitchell County is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Mitchell County, NC

How much do homes in Mitchell County, NC cost?

Median Sold Price

$250,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$30,000(-10.7%)

Key Takeaway

Homes in Mitchell County have sold for 10.7% less than they did a year ago.

Summary: The median home sold price in Mitchell County was $250,000 in October 2024, down 10.7% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $150K$246.2K
+64.2%
2 $215K$211K
-1.9%
3 $292.5K$260K
-11.1%
4 $355K$368.4K
+3.8%
5+ $579.2K$437K
-24.6%

Summary: Mitchell County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.2%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 24.6%.

Median Sold Price Compared To Nearby Counties

Yancey County
+10.1%
McDowell County
+6.8%
Unicoi County
+5.2%
Mitchell County
-10.7%
Avery County
-22.1%

Housing Supply in Mitchell County, NC

How many homes are available in Mitchell County, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9592-3.2%

Summary: The Mitchell County real estate market had 92 homes for sale in October 2024, a 3.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 55
0.0%
2 2726
-3.7%
3 4644
-4.3%
4 1010
0.0%
5+ 77
0.0%

Summary: The Mitchell County 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 3.7%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
660.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mitchell County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Mitchell County in October 2024, the same as the previous month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Mitchell County, NC

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

Average Sale Time

Oct 2023Oct 2024CHANGE
44 Days53 Days+21.0%

Summary: Homes in Mitchell County had an average of 53 days on market in Oct 2024, up by 21% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 6 homes were sold in Mitchell County; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 Mitchell County, NC

Nearby Markets to Mitchell County, NC

What housing markets are near Mitchell County, NC?