Is Cedar Grove, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cedar Grove was a Seller's Market.
Key Takeaway
Cedar Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cedar Grove, NC
How much do homes in Cedar Grove, NC cost?
Median Sold Price
$359,500
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cedar Grove have sold for 10.7% less than they did a year ago.
Summary: The median home sold price in Cedar Grove was $359,500 in May 2024, down 10.7% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $415K | $270K | -34.9% |
| 3 Bedrooms | $320K | $379K | +18.4% |
| 4 Bedrooms | $479K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Cedar Grove 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 decreased by 34.9%, 3 bedroom homes increased by 18.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cedar Grove Township | $444.2K | $464.5K | +4.6% |
| Hurdle Mills | $399K | $395K | -1.0% |
| Cedar Grove | $402.5K | $359.5K | -10.7% |
Housing Supply in Cedar Grove, NC
How many homes are available in Cedar Grove, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Summary: The Cedar Grove real estate market had 7 homes for sale in May 2024, a 12.5% 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 | 6 | 4 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cedar Grove 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Grove, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Cedar Grove in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Cedar Grove, NC
How long does it take to sell a home in Cedar Grove, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 20 Days | -42.9% |
Summary: Homes in Cedar Grove had an average of 20 days on market in May 2024, down by 42.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cedar Grove are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Cedar Grove; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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