Is Bessemer City, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bessemer City has remained a Seller's Market.
Key Takeaway
Bessemer City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bessemer City, NC
How much do homes in Bessemer City, NC cost?
Median Sold Price
$240,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bessemer City have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Bessemer City was $240,000 in May 2024, up 2.1% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $81.9K | - | N/A |
| 2 Bedrooms | $155.9K | $170K | +9.0% |
| 3 Bedrooms | $245K | $244.5K | -0.2% |
| 4 Bedrooms | $339.2K | $343K | +1.1% |
| 5+ Bedrooms | $385K | $370K | -3.9% |
Summary: Bessemer City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Bessemer City | $235K | $240K | +2.1% |
| Crowders Mountain Township | $250K | $250K | 0.0% |
| Cherryville Township | $242K | $241.2K | -0.3% |
Housing Supply in Bessemer City, NC
How many homes are available in Bessemer City, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 73 | 0.0% |
Summary: The Bessemer City real estate market had 73 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 53 | 52 | -1.9% |
| 4 Bedrooms | 13 | 11 | -15.4% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Bessemer City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bessemer City, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Bessemer City in May 2024, up by 33.3% month-over-month. Of the 20 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Bessemer City, NC
How long does it take to sell a home in Bessemer City, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 39 Days | +37.9% |
Summary: Homes in Bessemer City had an average of 39 days on market in May 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bessemer City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Bessemer City; 55% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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