Is Ellerbe, NC 28338 a buyer’s or seller’s market?
Ellerbe is a balanced market. With about 4.3 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Ellerbe housing market right now
In the three months ending August 31, 2026, 0% of homes in Ellerbe, NC 28338 sold above their list price, the typical home went under contract in 173 days and there were 4.3 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold more slowly (12 days then) and the median sale price rose 89% to $264,885. Overall, Ellerbe is less competitive than a year ago, which gives buyers more room.
Within Richmond County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Hamlet 28345 (12% sold over asking) and Rockingham 28379 (4% sold over asking) are even more competitive.
Run the numbers for 28338
Nearby markets
Cordova 28330Buyer’s market $68 /sq ftHamlet 28345Seller’s market $114 /sq ftHoffman 28347 — /sq ftNorman 28367 $118 /sq ft Browse all markets →Towns like Ellerbe nearby
Find towns like Ellerbe in other states →Where Ellerbe is
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Questions about Ellerbe real estate
Is Ellerbe a buyer’s or seller’s market?
A balanced market: there were 4.3 months of supply in Ellerbe, NC 28338 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Ellerbe?
The typical home went under contract in 173 days in the latest three months.
Do homes in Ellerbe sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.0% of the list price.
What are property taxes in Ellerbe?
About 0.89% of a home’s value a year in Richmond County, or roughly $3,560 on a $400,000 home.
What is the median home price in Ellerbe?
The median sale price was $264,885 in the three months ending August 31, 2026, about $152 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology