eastern NC real estate - craigslist (2024)

FAQs

Are home prices dropping in NC? ›

Are North Carolina home prices dropping or rising? Home prices in North Carolina are rising overall. Median home prices are up 4.4% since April 2023 and up 27.5% in the past 3 years.

$332,265. The average North Carolina home value is $332,265, up 4.8% over the past year and goes to pending in around 11 days.

As of now, mortgage rates are low in N.C., but experts expect to see a lot more buyers and sellers entering the market. According to the North Carolina Housing Finance Agency, currently, the housing market is categorized as a seller's market because of low inventory.

When is the best time to buy a house in 2024? If you're looking for the best deals, you might want to wait until late fall or early winter. That's the time when buyers typically pay the lowest premiums above market value.

#1: Rocky Mount

With a median home sale price of $212,000, Rocky Mount lands the number one spot on our list as the most affordable place to live in North Carolina. There are about 54,400 residents living in this mid-sized city.

According to a list compiled by Family Handyman, the most expensive neighborhood in all of North Carolina is Wrightsville Beach and the 28480 zip code. This island located just outside of Wilmington has a population around 2,500 and has a sky-high median home value of more than $1.3 million.

What city in North Carolina is the best to live in? ›

In addition to being named the top place to live in North Carolina, Raleigh was also among the top 25 best cities in America, best cities to raise a family and with the best public schools in the country, according to Niche.

Lower Cost of Living

According to mylifeelsewhere.com, Florida is 4.0% more expensive than North Carolina overall in terms of restaurants, entertainment, and groceries, making it a very attractive destination for many people. In comparison to Florida, living expenses in North Carolina are relatively lower.

Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce.

A recent North Carolina Housing Coalition report found that 48% of North Carolina renters — 604,365 households — have difficulty affording their rents. As set by the U.S. Department of Housing and Urban Development, fair market rent in North Carolina is $1,083 per month, 38% higher than it was five years ago.

North Carolina Real Estate and Mortgage Insights

Home buyers in North Carolina have a lot of support in the buying with 54,626 real estate agents and 13,652 loan officers helping facilitate these transactions. The average North Carolina mortgage was $726,490 compared to the national average of $236,443.

The National Low Income Housing Coalition's recent report — The Gap: A Shortage of Affordable Homes — found that there are 326,751 extremely low-income households in North Carolina but only 130,930 affordable rental homes available to them.

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.