Is The Arts District, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing The Arts District is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, The Arts District has remained a Seller's Market.

Key Takeaway

The Arts District is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in The Arts District, NC

How much do homes in The Arts District, NC cost?

Median Sold Price

$467,820

$332/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$49,680(-9.6%)

Key Takeaway

Homes in The Arts District have sold for 9.6% less than they did a year ago.

Summary: The median home sold price in The Arts District was $467,820 in November 2024, down 9.6% from last year, and the median price per square foot was $332.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $286.4K$298.5K
+4.2%
2 $464.7K$432.5K
-6.9%
3 $552.2K$479.3K
-13.2%
4 $772.5K$760K
-1.6%
5+ $984K$1.2M
+22.3%

Summary: The Arts District housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 22.3%.

Median Sold Price Compared To Nearby Neighborhoods

Villa Heights
+3.4%
The Arts District
-9.6%

Housing Supply in The Arts District, NC

How many homes are available in The Arts District, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
50500.0%

Summary: The The Arts District real estate market had 50 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 65
-16.7%
2 2220
-9.1%
3 1417
+21.4%
4 77
0.0%
5+ 11
0.0%

Summary: The The Arts District housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
990.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in The Arts District, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in The Arts District in November 2024, the same as the previous month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.

Days on Market for The Arts District, NC

How long does it take to sell a home in The Arts District, NC?

Average Sale Time

Nov 2023Nov 2024CHANGE
19 Days35 Days+80.0%

Summary: Homes in The Arts District had an average of 35 days on market in Nov 2024, up by 80% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in The Arts District are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 9 homes were sold in The Arts District; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 The Arts District, NC

Nearby Markets to The Arts District, NC