Is Bahama, 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, Bahama has remained a Seller's Market.
Key Takeaway
Bahama is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bahama, NC
How much do homes in Bahama, NC cost?
Median Sold Price
$510,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bahama have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Bahama was $510,000 in May 2024, up 4.3% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $210K | N/A |
| 2 Bedrooms | $385K | $431K | +11.9% |
| 3 Bedrooms | $419.2K | $493K | +17.6% |
| 4 Bedrooms | $603K | $525K | -12.9% |
| 5+ Bedrooms | $1.4M | - | N/A |
Summary: Bahama 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 increased by 11.9%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lebanon Township | $394.7K | $425K | +7.7% |
| Bahama | $489K | $510K | +4.3% |
| Mangum Township | $505K | $512.5K | +1.5% |
| Rougemont | $368.5K | $365.2K | -0.9% |
| Little River Township | $439.9K | $393.5K | -10.5% |
Housing Supply in Bahama, NC
How many homes are available in Bahama, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The Bahama real estate market had 12 homes for sale in May 2024, a 7.7% decrease 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 11 | 7 | -36.4% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bahama 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 increased by 100%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bahama, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Bahama in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Bahama, NC
How long does it take to sell a home in Bahama, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 78 Days | +122.2% |
Summary: Homes in Bahama had an average of 78 days on market in May 2024, up by 122.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Bahama are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Bahama; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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