Is Shelby, 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, Shelby has remained a Seller's Market.
Key Takeaway
Shelby is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shelby, NC
How much do homes in Shelby, NC cost?
Median Sold Price
$239,900
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Shelby have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Shelby was $239,900 in May 2024, up 8.5% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73K | $73K | 0.0% |
| 2 Bedrooms | $157.3K | $170K | +8.1% |
| 3 Bedrooms | $225.7K | $236.5K | +4.8% |
| 4 Bedrooms | $282.7K | $317.7K | +12.4% |
| 5+ Bedrooms | $290.2K | $377.5K | +30.1% |
Summary: Shelby 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 8.1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 30.1%.
Housing Supply in Shelby, NC
How many homes are available in Shelby, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 283 | 299 | +5.7% |
Summary: The Shelby real estate market had 299 homes for sale in May 2024, a 5.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 46 | 51 | +10.9% |
| 3 Bedrooms | 152 | 151 | -0.7% |
| 4 Bedrooms | 60 | 72 | +20.0% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Shelby housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 10.9%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 52 | 0.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shelby, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Shelby in May 2024, the same as the previous month. Of the 52 sold homes, 48% were sold under asking, 35% were sold at asking, and 17% were sold over asking.
Days on Market for Shelby, NC
How long does it take to sell a home in Shelby, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 62 Days | +62.2% |
Summary: Homes in Shelby had an average of 62 days on market in May 2024, up by 62.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelby are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 52 homes were sold in Shelby; 44% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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