eastern NC real estate - craigslist (2024)

FAQs

Is it a good time to buy property in NC? ›

Is it a buyer's or seller's market in North Carolina? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.9%, making the average house payment $2,560, which is $25 lower than a year before.

$335,760. The average North Carolina home value is $335,760, up 3.8% over the past year and goes to pending in around 15 days.

June 2024 NC Housing Report

The median sales price increased 4% to $374,700 year over year, yet overall sales were down 19%. North Carolina is still a seller's market; homes are staying on the market for an average of 4.23 months.

And yes, the supply and demand for an average home also drives a brisk market in the state. Typically, as one of the top states for home buyers, the North Carolina housing market offers a number of unique properties like those found in the mountains of Western North Carolina.

North Carolina Housing Market Supply and Demand

Home supply in North Carolina is at a record low. There was a 16.5% drop in the number of newly listed homes, and a 1.5% drop in the total number of homes for sale. Price drops have also increased due to demand- with an overall growth rate of -26.9 points.

While the post-pandemic housing market in North Carolina has cooled significantly, it's still a seller's market with only 3.17 months of inventory. NC Realtors says six months inventory is needed for a balanced market and more than six months would make it a buyer's market.

Average 5-year home price return since 1975

Since 1975, the average five-year return on U.S. home prices has been +26%. Given Realtor.com data shows that the median list price in May comes in at $442,500, in theory, this same listing could appreciate to about $557,550 in five years.

California remains the clear leader, and Florida surpassed New York as the state with the second most valuable real estate market in the country. California remains the nation's most valuable housing market, despite a housing slowdown that shaved nearly $1 trillion off the value of the state's residential real estate.

According to a recent release from the Federal Housing Finance Agency (FHFA) at the end of August 2023, house prices experienced an appreciation of 4% over the last year. Additionally, per Case-Shiller, the historical annual average national appreciation rate since 1987 through July 2023 is 4.8%.

The North Carolina real estate market is set to experience record highs in 2022, according to the Zillow.com rankings which have placed Raleigh and Charlotte among America's hottest housing markets.

What is the best time of year to sell house in North Carolina? ›

Best Time to Sell Your House for a Higher Price

April, May, and June are the best months to sell your house in North Carolina.

The current North Carolina real estate market statistics reflect the national trend of high demand and low supply.

Your Salary Potential as a North Carolina Real Estate Broker is Unlimited. Pros: You're no longer limited to the hourly wage or salary that someone has placed on your position. The harder you work as a North Carolina real estate agent, the more you can earn.

Today, buyer demand is still greater than housing supply. So home prices are likely to stay mostly the same in 2024, with some markets experiencing a small increase or a small decrease in dollar amount.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Buying A House In The Fall

Once summer ends, sellers get more motivated. They usually lower their prices and provide an opportunity to get a deal. As is the case with winter, there's also less inventory during the fall. Many sellers want to avoid moving during the holiday season.