Is Elkin, 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, Elkin has remained a Seller's Market.
Housing Prices in Elkin, NC
How much do homes in Elkin, NC cost?
Median Sold Price
$219,450
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Elkin was $219,450 in May 2024, down 3.4% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $172K | N/A |
2 Bedrooms | $160.5K | $172K | +7.2% |
3 Bedrooms | $246K | $260K | +5.7% |
4 Bedrooms | $285.5K | $288K | +0.9% |
5+ Bedrooms | $355K | $311K | -12.4% |
Summary: Elkin 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 7.2%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
Elkin Township | $232.5K | $232.5K | 0.0% |
Elkin | $227.2K | $219.4K | -3.4% |
Jonesville | $209K | $185K | -11.5% |
North Knobs Township | $214.9K | $173K | -19.5% |
Housing Supply in Elkin, NC
How many homes are available in Elkin, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 35 | +9.4% |
Summary: The Elkin real estate market had 35 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 8 | 8 | 0.0% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Elkin 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 26.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Elkin in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Elkin, NC
How long does it take to sell a home in Elkin, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 12 Days | -76.1% |
Summary: Homes in Elkin had an average of 12 days on market in May 2024, down by 76.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Elkin; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.