Is Spring Lake, 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, Spring Lake has remained a Seller's Market.
Housing Prices in Spring Lake, NC
How much do homes in Spring Lake, NC cost?
Median Sold Price
$299,974
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spring Lake was $299,974 in May 2024, up 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 | - | - | N/A |
2 Bedrooms | $205K | $209K | +2.0% |
3 Bedrooms | $247.4K | $215K | -13.1% |
4 Bedrooms | $338K | $357K | +5.6% |
5+ Bedrooms | $386K | $392.5K | +1.7% |
Summary: Spring Lake 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 2%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Manchester Township | $150K | $175.2K | +16.8% |
Spring Lake | $290K | $299.9K | +3.4% |
Spring Lake | $293.4K | $299.9K | +2.2% |
Housing Supply in Spring Lake, NC
How many homes are available in Spring Lake, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
145 | 141 | -2.8% |
Summary: The Spring Lake real estate market had 141 homes for sale in May 2024, a 2.8% 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 | 7 | 6 | -14.3% |
3 Bedrooms | 70 | 69 | -1.4% |
4 Bedrooms | 56 | 54 | -3.6% |
5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Spring Lake 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 decreased by 14.3%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 38 | +22.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Spring Lake in May 2024, up by 22.6% month-over-month. Of the 38 sold homes, 32% were sold under asking, 50% were sold at asking, and 18% were sold over asking.
Days on Market for Spring Lake, NC
How long does it take to sell a home in Spring Lake, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
80 Days | 17 Days | -78.7% |
Summary: Homes in Spring Lake had an average of 17 days on market in May 2024, down by 78.7% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Spring Lake; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.