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Is Hot Springs, NC 28743 a buyer’s or seller’s market?

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

Hot Springs is a buyer’s market. With about 12.3 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply12.3Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list91.1%Sold price ÷ list price
Median days on market244Listing to accepted offer
Median price per sq ft$259▲ +6.7% vs. last year

The Hot Springs housing market right now

In the three months ending August 31, 2026, 0% of homes in Hot Springs, NC 28743 sold above their list price, the typical home went under contract in 244 days and there were 12.3 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 was about the same (0% then), homes sold more slowly (100 days then) and the median sale price rose 53% to $554,760. Overall, Hot Springs is less competitive than a year ago, which gives buyers more room.

Nearby, Mars Hill 28754 (14% sold over asking) is even more competitive.

Run the numbers for 28743

Prefilled for 28743Can I win this house?Multiple-offer likelihood for a listing Prefilled for 28743Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Mars Hill 28754Buyer’s market $248 /sq ftMarshall 28753Balanced $235 /sq ft Browse all markets →

Towns like Hot Springs nearby

Find towns like Hot Springs in other states →
Parrottsville, TN37843 · 16 miles away89% similarlarger Green Mountain, NC28740 · 38 miles away81% similarpricier homes ($50K more) · older residents Limestone, TN37681 · 34 miles away80% similarlarger Cosby, TN37722 · 18 miles away79% similarpricier homes ($41K more) · larger

Where Hot Springs is

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Questions about Hot Springs real estate

Is Hot Springs a buyer’s or seller’s market?

A buyer’s market: there were 12.3 months of supply in Hot Springs, NC 28743 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 Hot Springs?

The typical home went under contract in 244 days in the latest three months.

Do homes in Hot Springs sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 91.1% of the list price.

What are property taxes in Hot Springs?

About 0.48% of a home’s value a year in Madison County, or roughly $1,920 on a $400,000 home.

What is the median home price in Hot Springs?

The median sale price was $554,760 in the three months ending August 31, 2026, about $259 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