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Is Elk Park, NC 28622 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Elk Park is a buyer’s market. With about 12.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply12.8Under 4 months = seller’s market
Sold above original list14.3%Share of sales, last 3 months
Median sale-to-list92%Sold price ÷ list price
Median days on market121Listing to accepted offer
Median price per sq ft$199▼ −52.8% vs. last year

The Elk Park housing market right now

In the three months ending August 31, 2026, 14% of homes in Elk Park, NC 28622 sold above their list price, the typical home went under contract in 121 days and there were 12.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 7 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (105 days then) and the median sale price fell 64% to $254,890. Overall, Elk Park is more competitive than a year ago, so tougher for buyers.

Nearby, buyers who want less competition could look at Linville 28646 (0% sold over asking) or Newland 28657 (11% sold over asking).

Run the numbers for 28622

Prefilled for 28622Can I win this house?Multiple-offer likelihood for a listing Prefilled for 28622Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Crossnore 28616 — /sq ftLinville 28646Balanced $481 /sq ftNewland 28657Buyer’s market $249 /sq ft Browse all markets →

Towns like Elk Park nearby

Find towns like Elk Park in other states →
Hampton, TN37658 · 14 miles away86% similarcheaper homes ($59K less) · larger Lansing, NC28643 · 34 miles away84% similarmore single-family homes Purlear, NC28665 · 34 miles away82% similarVery close on income, prices and more Mountain City, TN37683 · 22 miles away81% similarlarger

Where Elk Park is

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Questions about Elk Park real estate

Is Elk Park a buyer’s or seller’s market?

A buyer’s market: there were 12.8 months of supply in Elk Park, NC 28622 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 Elk Park?

The typical home went under contract in 121 days in the latest three months.

Do homes in Elk Park sell over asking?

14% of homes sold above their original list price, and the typical sale closed at 92.0% of the list price.

What are property taxes in Elk Park?

About 0.38% of a home’s value a year in Avery County, or roughly $1,520 on a $400,000 home.

What is the median home price in Elk Park?

The median sale price was $254,890 in the three months ending August 31, 2026, about $199 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