Is Colfax, 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, Colfax was a Seller's Market.
Housing Prices in Colfax, NC
How much do homes in Colfax, NC cost?
Median Sold Price
$410,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Colfax was $410,000 in May 2024, down 4% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $279.9K | $240K | -14.3% |
3 Bedrooms | $326.8K | $317.5K | -2.8% |
4 Bedrooms | $440K | $465K | +5.7% |
5+ Bedrooms | $467.8K | $507.5K | +8.5% |
Summary: Colfax 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 14.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Oak Ridge | $566.7K | $678.4K | +19.7% |
Oak Ridge Township | $523K | $600K | +14.7% |
Kernersville | $324.6K | $339.7K | +4.6% |
Colfax | $426.8K | $410K | -4.0% |
Deep River Township | $399.9K | $383.5K | -4.1% |
Housing Supply in Colfax, NC
How many homes are available in Colfax, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 28 | +3.7% |
Summary: The Colfax real estate market had 28 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 | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 10 | 13 | +30.0% |
4 Bedrooms | 12 | 11 | -8.3% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Colfax 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 remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Colfax in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Colfax, NC
How long does it take to sell a home in Colfax, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 68 Days | +1041.7% |
Summary: Homes in Colfax had an average of 68 days on market in May 2024, up by 1041.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Colfax; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.