Is Penrose, NC 28766 a buyer’s or seller’s market?
Penrose is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Penrose housing market right now
In the three months ending August 31, 2026, 0% of homes in Penrose, NC 28766 sold above their list price, the typical home went under contract in 117 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 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 (97 days then) and the median sale price fell 2% to $367,341. Overall, Penrose is less competitive than a year ago, which gives buyers more room.
Within Transylvania County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Rosman 28772 (25% sold over asking) and Brevard 28712 (6% sold over asking) are even more competitive.
Run the numbers for 28766
Nearby markets
Balsam Grove 28708 — /sq ftBrevard 28712Balanced $299 /sq ftCedar Mountain 28718Buyer’s market $147 /sq ftLake Toxaway 28747Buyer’s market $368 /sq ft Browse all markets →Towns like Penrose nearby
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Questions about Penrose real estate
Is Penrose a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Penrose, NC 28766 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 Penrose?
The typical home went under contract in 117 days in the latest three months.
Do homes in Penrose sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.4% of the list price.
What are property taxes in Penrose?
About 0.45% of a home’s value a year in Transylvania County, or roughly $1,800 on a $400,000 home.
What is the median home price in Penrose?
The median sale price was $367,341 in the three months ending August 31, 2026, about $252 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