Homes prices can differ radically between counties here in the mid coastal region of North Carolina. But how do we compare in price and market with the rest of the state? You might be surprised where the cheapest homes are and what market place is doing the best.
The North Carolina Association of Realtors gathers monthly data from all of its participating multiple listing service (MLS) members across the state. The most recent data just released is for September. It showed that the average sold price of a home in North Carolina was $208K (rounded). This is a 3 percent increase from a year ago. The year over year sales however shows a whopping 21 percent increase. But the telling story is comparing the August sales to September where we see a 16 percent drop. That’s when the tightening of mortgage lending and the steady increase in rates started to have an effect.
Local Home Prices
Carteret County had an average sold price for a home at $226K, Jacksonville $174K, Brunswick including Bladen and Columbus at $224K, Craven/Pamlico $165K and Wilmington at $238K.
The most expensive place to buy a home was in the Outer Banks at $307K. The cheapest home market was Rocky Mount at $102K. Keep an eye on Asheville and Brevard markets. Not only are they second and third most expensive areas but have seen some of the sharpest increases in price of recent.
Winner and Losers in Home Price and Sales
The Outer Banks, which is the most expensive market in September also, had the worst sales in September with a 14 percent decrease year over year. The big winner was Goldsboro with a whopping 130 percent increase! But let’s give some perspective here. Goldsboro only sold 46 homes in September, 2012 and 106 in 2013.
There was $18.2 Billion worth of homes sold in North Carolina from the beginning of January through the end of September of this year. That’s a 30 percent increase over the same time period in 2012. The number of homes sold year to date is up 24 percent.
Real estate across North Carolina is doing well. The Crystal Coast is seeing a positive uptick in sales after many years of a saturated market. The favor leans towards the buyers here in Carteret County.
Margaret Hitchcock is a Realtor and owner/operator of Hitchcock Realty in Morehead City along the Crystal Coast of North Carolina. Whether it is a home or condo, on the beach or mainland be sure to contact Margaret today. Visit her online at www.HitchcockRealty.net or call (252) 269-2893