Elon Housing Market Report December 2024•Alamance County, North Carolina

hero building illustration for mobile

Housing Prices in Elon, NC

How much do homes in Elon, NC cost?

Housing Market Conditions

Is Elon, NC a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Elon is a Seller's Market

Difference Since December 2023

Since last year, Elon has remained a Seller's Market.

Insight

Elon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$339,400$189/SqFt
-$23,100
-6.4%

Based on all homes sold in the last 12 months

Insight

Homes in Elon have sold for 6.4% less than they did a year ago.

Summary: The median home sold price in Elon was $339,400 in December 2024, down 6.4% from last year, and the median price per square foot was $189.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Gibsonville
+13.6%
Burlington
+4.2%
Elon
-6.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$187.5K$225K
+20.0%
3$308.5K$321K
+4.1%
4$379K$460K
+21.4%
5$510K$520K
+2.0%

Summary: Elon housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +20.0%. The home price for 3 bedroom homes increased by +4.1%. The home price for 4 bedroom homes increased by +21.4%. The home price for 5 bedroom homes increased by +2.0%.

Housing supply in Elon, NC

How many homes are available in Elon, NC?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
30Last MonthDec 2024
362 months agoNov 2024
-16.7 %
Change MoMNov – Dec

Summary: The Elon real estate market had 30 homes for sale in Dec 2024, a 16.7 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
8Last MonthDec 2024
102 months agoNov 2024
-20.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
221
-50.0%
31517
+13.3%
4147
-50.0%
555
0.0%

Summary: Elon housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes increased by +13.3%. The inventory for 4 bedroom homes decreased by -50.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Elon, NC cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price3 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in Elon, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Elon in December 2024, down by 20.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and and 25% were sold over asking.

Days on Market for Elon, NC

How long does it take to sell a home in Elon, NC?

Breakdown of Home Sale Times

Under 30 Days7 Homes

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Many homes in Elon are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 8 homes were sold in Elon; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
10 DaysThis YearDec 2024
41 Days1 year agoDec 2023
-74.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Elon had an average listing age of 10 days in Dec 2024, down by 74.8% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Elon, NC

What homes are available in Elon, NC?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in North Carolina

MLS Disclaimers and Copyright

Based on information from Doorify MLS, and Triad MLS Inc for the period 01/01/2023 - 01/01/2025

IDX Copyright © 2025 Doorify MLS of North Carolina. All rights reserved. Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use.

Properties subject to prior sale, change, withdrawal or rental. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 4:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Copyright © 2025 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 4:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.