North Carolina Real Estate

North Carolina has a very warm and inviting atmosphere. North Carolina has the Outer Banks, 130 miles of barrier islands and coastal beaches, making waterfront properties attractive to buyers from all over the country. Property is very inexpensive and colonial and brick homes are the popular form of architecture in the area. In addition, many historical homes are found in its beautiful, historical cities such as Charlotte and Raleigh.

North Carolina is covered in swamp and fertile farmlands. The state has 31.1 million acres, of which 9 million is used for agriculture. In 2005, the population of North Carolina was 8.6 million people of which 2.6 million lived in rural communities. Homeownership is at 69.4% in the state, with a vacancy rate of 11.1%. The median price of a home in North Carolina is $108,000.

In Charlotte, North Carolina’s biggest city, condos and town homes are the hot sellers right now. It is definitely a sellers market, with a limited supply of housing inventory and houses are selling within 10 to 30 days. Prices are up from zero to five percent and the average price of a home is $350,000. Sellers are receiving 95-100% of their asking price.

In the states capitol, Raleigh single family homes are the top seller. The economy is doing well in this area, jobs are plentiful and there is also a steady population growth. Homes are selling in two to three months; there is a good supply of homes in all price ranges. The average home goes for around $225,000 which is up about 0-5% from 2005’s prices. Sellers are receiving 95-100% of their asking price.