28040 — Cleveland County, North Carolina Market Snapshot
Housing market data for zip code 28040 in Cleveland County, North Carolina. Updated monthly with median prices, days on market, and more.
Market Sales Data
14 sales in 2026 (year to date)
Median Sale Price
$227,500
Days to Sell
119
Homes Sold
14
Inventory
36
Sale-to-List
98.8%
New Listings
36
Price/SqFt
$154
Pending Sales
28
Conforming Loan Available
Most homebuyers in 28040 can comfortably use conventional financing. The median home price of $227,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 119 days on average, 28040 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes are selling very close to asking price in 28040 (98.8% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 28040 can comfortably use conventional financing. The median home price of $227,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 28040 are set at the county level.
2026 Loan Limits — Cleveland County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 28040
To purchase the median home at $227,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,893.
Monthly Payment
$1,893
Income Required
$81,130
Principal & Interest
$1,402/mo
Down Payment (5%)
$11,375
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 28040.
Estimated Monthly Payment
$1,558
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 28040. Tell us what you're looking for.