Is Advance, 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, Advance has remained a Seller's Market.
Housing Prices in Advance, NC
How much do homes in Advance, NC cost?
Median Sold Price
$410,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Advance was $410,000 in May 2024, up 11.6% 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 | $95K | $980K | +931.6% |
2 Bedrooms | $167.9K | $195K | +16.1% |
3 Bedrooms | $338K | $385K | +13.9% |
4 Bedrooms | $435K | $615K | +41.4% |
5+ Bedrooms | $471K | $800K | +69.9% |
Summary: Advance housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 931.6%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 41.4%, and 5+ bedroom homes increased by 69.9%.
Median Sold Price Compared To Nearby Cities
Fulton Township | $287.5K | $370K | +28.7% |
Farmington Township | $335.5K | $385K | +14.8% |
Advance | $367.2K | $410K | +11.6% |
Shady Grove Township | $399K | $426.5K | +6.9% |
Housing Supply in Advance, NC
How many homes are available in Advance, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
73 | 83 | +13.7% |
Summary: The Advance real estate market had 83 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 17 | 12 | -29.4% |
3 Bedrooms | 27 | 37 | +37.0% |
4 Bedrooms | 24 | 29 | +20.8% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Advance 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 29.4%, 3 bedroom homes increased by 37%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 21 | +61.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Advance in May 2024, up by 61.5% month-over-month. Of the 21 sold homes, 38% were sold under asking, 29% were sold at asking, and 33% were sold over asking.
Days on Market for Advance, NC
How long does it take to sell a home in Advance, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
70 Days | 33 Days | -52.8% |
Summary: Homes in Advance had an average of 33 days on market in May 2024, down by 52.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Advance; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.