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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Advance is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Advance has remained a Seller's Market.

Key Takeaway

Advance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$42,750(+11.6%)

Key Takeaway

Homes in Advance have sold for 11.6% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $95K$980K
+931.6%
2 $167.9K$195K
+16.1%
3 $338K$385K
+13.9%
4 $435K$615K
+41.4%
5+ $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
+28.7%
Farmington Township
+14.8%
Advance
+11.6%
Shady Grove Township
+6.9%

Housing Supply in Advance, NC

How many homes are available in Advance, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7383+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

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1712
-29.4%
3 2737
+37.0%
4 2429
+20.8%
5+ 44
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 2024May 2024CHANGE
1321+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Advance, you may be able to get a good deal. 38.1% of homes here sold below asking price last month.

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 2023May 2024CHANGE
70 Days33 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Advance, NC

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