Is Old Richmond Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Richmond Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Old Richmond Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Old Richmond Township, NC

How much do homes in Old Richmond Township, NC cost?

Median Sold Price

$285,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,010(+5.6%)

Key Takeaway

Homes in Old Richmond Township have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Old Richmond Township was $285,000 in October 2024, up 5.6% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $82.5K-
N/A
2 $121K$137.5K
+13.6%
3 $277.5K$284.2K
+2.4%
4 $347.4K$377.5K
+8.6%
5+ --
N/A

Summary: Old Richmond Township 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 increased by 13.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Pfafftown
+7.8%
Bethania Township
+5.8%
Old Richmond Township
+5.6%
King
+3.6%
Tobaccoville
+0.9%

Housing Supply in Old Richmond Township, NC

How many homes are available in Old Richmond Township, NC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1320+53.8%

Summary: The Old Richmond Township real estate market had 20 homes for sale in October 2024, a 53.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1017
+70.0%
4 21
-50.0%
5+ 00
0.0%

Summary: The Old Richmond Township 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 increased by 100%, 3 bedroom homes increased by 70%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Richmond Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Old Richmond Township in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Old Richmond Township, NC

How long does it take to sell a home in Old Richmond Township, NC?

Average Sale Time

Oct 2023Oct 2024CHANGE
41 Days11 Days-73.7%

Summary: Homes in Old Richmond Township had an average of 11 days on market in Oct 2024, down by 73.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 4 homes were sold in Old Richmond Township; 100% of homes were sold within 30 days, 0% 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 20 Days Ago

Newest Listings in Old Richmond Township, NC

Nearby Markets to Old Richmond Township, NC

What housing markets are near Old Richmond Township, NC?