$3,497 Closing Credit*
$294,470
1,528 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Meritage Homes of the Carolinas
Is South Albemarle Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, South Albemarle Township was a Seller's Market.
Key Takeaway
South Albemarle Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Albemarle Township, NC
How much do homes in South Albemarle Township, NC cost?
Median Sold Price
$281,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,800(+17.5%)
Key Takeaway
Homes in South Albemarle Township have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in South Albemarle Township was $281,000 in October 2024, up 17.5% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190K | N/A |
| 2 Bedrooms | $140K | $189K | +35.0% |
| 3 Bedrooms | $240K | $282K | +17.5% |
| 4 Bedrooms | $310K | $320K | +3.2% |
| 5+ Bedrooms | $290K | $637.5K | +119.8% |
Summary: South Albemarle 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 35%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 119.8%.
Median Sold Price Compared To Nearby Cities
| South Albemarle Township | $239.2K | $281K | +17.5% |
| Albemarle | $240K | $276.1K | +15.1% |
| North Albemarle Township | $237.9K | $257.9K | +8.4% |
| Center Township | $267.4K | $280K | +4.7% |
Housing Supply in South Albemarle Township, NC
How many homes are available in South Albemarle Township, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 90 | +13.9% |
Summary: The South Albemarle Township real estate market had 90 homes for sale in October 2024, a 13.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 60 | 65 | +8.3% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The South Albemarle Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Albemarle Township, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in South Albemarle Township in October 2024, up by 18.2% month-over-month. Of the 13 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% were sold over asking.
Days on Market for South Albemarle Township, NC
How long does it take to sell a home in South Albemarle Township, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 98 Days | +140.6% |
Summary: Homes in South Albemarle Township had an average of 98 days on market in Oct 2024, up by 140.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South Albemarle Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 13 homes were sold in South Albemarle Township; 31% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 62% of homes were sold over 90 days.
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