Is Sanford, 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, Sanford has remained a Seller's Market.
Key Takeaway
Sanford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sanford, NC
How much do homes in Sanford, NC cost?
Median Sold Price
$315,677
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sanford have sold for 4% more than they did a year ago.
Summary: The median home sold price in Sanford was $315,677 in May 2024, up 4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202.5K | $198K | -2.2% |
| 2 Bedrooms | $200K | $225K | +12.5% |
| 3 Bedrooms | $290.5K | $300K | +3.3% |
| 4 Bedrooms | $363.7K | $359K | -1.3% |
| 5+ Bedrooms | $440K | $485K | +10.2% |
Summary: Sanford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 10.2%.
Housing Supply in Sanford, NC
How many homes are available in Sanford, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 459 | 476 | +3.7% |
Summary: The Sanford real estate market had 476 homes for sale in May 2024, a 3.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 277 | 298 | +7.6% |
| 4 Bedrooms | 139 | 135 | -2.9% |
| 5+ Bedrooms | 27 | 25 | -7.4% |
Summary: The Sanford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 7.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 65 | 102 | +56.9% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sanford, you may be able to get a good deal. 39.2% of homes here sold below asking price last month.
Summary: A total of 102 homes were sold or pending in Sanford in May 2024, up by 56.9% month-over-month. Of the 102 sold homes, 39% were sold under asking, 33% were sold at asking, and 27% were sold over asking.
Days on Market for Sanford, NC
How long does it take to sell a home in Sanford, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 65 Days | 30 Days | -53.0% |
Summary: Homes in Sanford had an average of 30 days on market in May 2024, down by 53% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sanford are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 102 homes were sold in Sanford; 70% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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