Is Ellenboro, 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, Ellenboro has remained a Buyer's Market.
Key Takeaway
Ellenboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ellenboro, NC
How much do homes in Ellenboro, NC cost?
Median Sold Price
$181,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ellenboro have sold for 16.8% less than they did a year ago.
Summary: The median home sold price in Ellenboro was $181,000 in May 2024, down 16.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $52.5K | N/A |
| 2 Bedrooms | $180K | $165K | -8.3% |
| 3 Bedrooms | $244.7K | $214.9K | -12.2% |
| 4 Bedrooms | $219.9K | $553K | +151.5% |
| 5+ Bedrooms | - | $309K | N/A |
Summary: Ellenboro 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 decreased by 8.3%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 151.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ellenboro | $217.4K | $181K | -16.8% |
| Colfax Township | $390K | $300K | -23.1% |
Housing Supply in Ellenboro, NC
How many homes are available in Ellenboro, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 23 | +15.0% |
Summary: The Ellenboro real estate market had 23 homes for sale in May 2024, a 15.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Ellenboro 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 decreased by 25%, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ellenboro, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Ellenboro in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Ellenboro, NC
How long does it take to sell a home in Ellenboro, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 115 Days | 29 Days | -74.5% |
Summary: Homes in Ellenboro had an average of 29 days on market in May 2024, down by 74.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ellenboro are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Ellenboro; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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