$4,691 Closing Credit*
$395,000
2,084 SqFt
4 Beds
•2 Full Baths, 1 Partial
#10558623, Brooke Mora, Listing Office: Iron Valley Real Estate HR
Is South Mills Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, South Mills Township was a Buyer's Market.
Key Takeaway
South Mills Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Mills Township, NC
How much do homes in South Mills Township, NC cost?
Median Sold Price
$290,000
$167/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$284,500(-49.5%)
Key Takeaway
Homes in South Mills Township have sold for 49.5% less than they did a month ago.
Summary: The median home sold price in South Mills Township was $290,000 in October 2024, down 49.5% from last month, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $315K | $238.6K | -24.3% |
| 4 Bedrooms | $834K | $346K | -58.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: South Mills Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 24.3%, 4 bedroom homes decreased by 58.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Newland Township | $270.8K | $218K | -19.5% |
| South Mills Township | $574.5K | $290K | -49.5% |
| South Mills | $574.5K | $290K | -49.5% |
Housing Supply in South Mills Township, NC
How many homes are available in South Mills Township, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 32 | -5.9% |
Summary: The South Mills Township real estate market had 32 homes for sale in October 2024, a 5.9% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 20 | 18 | -10.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Mills 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 remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Mills Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in South Mills Township in October 2024, up by 200.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for South Mills Township, NC
How long does it take to sell a home in South Mills Township, NC?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 Days | 115 Days | +44.9% |
Summary: Homes in South Mills Township had an average of 115 days on market in Oct 2024, up by 44.9% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in South Mills Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 9 homes were sold in South Mills Township; 22% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
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