Is Colfax, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colfax is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Colfax was a Seller's Market.

Key Takeaway

Colfax is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Colfax, NC

How much do homes in Colfax, NC cost?

Median Sold Price

$410,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$16,866(-4.0%)

Key Takeaway

Homes in Colfax have sold for 4% less than they did a year ago.

Summary: The median home sold price in Colfax was $410,000 in May 2024, down 4% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $279.9K$240K
-14.3%
3 $326.8K$317.5K
-2.8%
4 $440K$465K
+5.7%
5+ $467.8K$507.5K
+8.5%

Summary: Colfax 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 14.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 8.5%.

Median Sold Price Compared To Nearby Cities

Oak Ridge
+19.7%
Oak Ridge Township
+14.7%
Kernersville
+4.6%
Colfax
-4.0%
Deep River Township
-4.1%

Housing Supply in Colfax, NC

How many homes are available in Colfax, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2728+3.7%

Summary: The Colfax real estate market had 28 homes for sale in May 2024, a 3.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1013
+30.0%
4 1211
-8.3%
5+ 32
-33.3%

Summary: The Colfax 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 remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colfax, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Colfax in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.

Days on Market for Colfax, NC

How long does it take to sell a home in Colfax, NC?

Average Sale Time

May 2023May 2024CHANGE
6 Days68 Days+1041.7%

Summary: Homes in Colfax had an average of 68 days on market in May 2024, up by 1041.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 4 homes were sold in Colfax; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 5 Days Ago

Newest Listings in Colfax, NC

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