Is King, 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, King has remained a Seller's Market.
Housing Prices in King, NC
How much do homes in King, NC cost?
Median Sold Price
$275,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in King was $275,500 in May 2024, down 3.3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127.5K | $116K | -9.0% |
2 Bedrooms | $239.9K | $200K | -16.6% |
3 Bedrooms | $275K | $250K | -9.1% |
4 Bedrooms | $376.9K | $370K | -1.8% |
5+ Bedrooms | $404.9K | $402.4K | -0.6% |
Summary: King housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9%, 2 bedroom homes decreased by 16.6%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
Tobaccoville | $252K | $288.4K | +14.5% |
Old Richmond Township | $253.5K | $269.9K | +6.5% |
Bethania Township | $256.9K | $260K | +1.2% |
King | $285K | $275.5K | -3.3% |
Yadkin Township | $290K | $269.9K | -6.9% |
Housing Supply in King, NC
How many homes are available in King, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
61 | 67 | +9.8% |
Summary: The King real estate market had 67 homes for sale in May 2024, a 9.8% 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 | 7 | 6 | -14.3% |
3 Bedrooms | 34 | 41 | +20.6% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The King 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 14.3%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 18 | +63.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in King in May 2024, up by 63.6% month-over-month. Of the 18 sold homes, 61% were sold under asking, 22% were sold at asking, and 17% were sold over asking.
Days on Market for King, NC
How long does it take to sell a home in King, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 38 Days | -8.6% |
Summary: Homes in King had an average of 38 days on market in May 2024, down by 8.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in King; 72% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.