$29,000
0.54 Acres
Land
#100481392, Listing Office: Mossy Oak Properties Land and Farms
Is Wallace, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Wallace was a Seller's Market.
Key Takeaway
Wallace is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wallace, NC
How much do homes in Wallace, NC cost?
Median Sold Price
$313,750
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$81,500(+35.1%)
Key Takeaway
Homes in Wallace have sold for 35.1% more than they did a year ago.
Summary: The median home sold price in Wallace was $313,750 in November 2024, up 35.1% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $170K | $149K | -12.4% |
| 3 Bedrooms | $218.5K | $279K | +27.7% |
| 4 Bedrooms | $632K | $415K | -34.3% |
| 5+ Bedrooms | $750K | $850K | +13.3% |
Summary: Wallace housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.4%, 3 bedroom homes increased by 27.7%, 4 bedroom homes decreased by 34.3%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Wallace | $232.2K | $313.7K | +35.1% |
| Island Creek Township | $225K | $275K | +22.2% |
Housing Supply in Wallace, NC
How many homes are available in Wallace, NC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 70 | 74 | +5.7% |
Summary: The Wallace real estate market had 74 homes for sale in November 2024, a 5.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 35 | 38 | +8.6% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Wallace housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wallace, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Wallace in November 2024, down by 20.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Wallace, NC
How long does it take to sell a home in Wallace, NC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 106 Days | 85 Days | -19.8% |
Summary: Homes in Wallace had an average of 85 days on market in Nov 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wallace has remained consistent over time.
Summary: During November 2024, 8 homes were sold in Wallace; 13% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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