The Real Estate Market in North Carolina

The real estate market has a lot of buzz surrounding it, and it can be hard to tell what information is factual and what is just a headline designed to secure the most clicks… so instead of listening to opinions, let’s go over some cold hard facts provided by Redfin using MLS data and public records.

North Carolina Market Summary

Home values are still encouraging in North Carolina. Last month in August, NC homes were selling at a median price of $350,800, or up 11.2% from one year ago.

Transactions aren’t screeching to a halt either. There were 15,742 homes sold in North Carolina in August 2022, which is up an average of 4.4% from last years 14,875 transactions.

The median days on the market in NC is 27 days, which is down 9 from last year.

Housing Supply in North Carolina

In August, there was in increase in inventory compared to August 2021. There were 44,442 homes for sale in North Carolina last month, up 1.5% from 43,775 last August.

The number of newly listed homes was 15,490, which is down 2.6% from August 2021.

The average months of supply was just under 2 months, which is about the same as it was last year.

Housing Demand in North Carolina

Last month, 39.6% of homes in North-Carolina sold below list price, down 16% from last August.

32.9% of homes listed in NC had price drops in August 2022, up from 11.0% of listed homes in August 2021.

There was a 99.8% sale-to-list price ratio, which represents a 2.1% decrease from last year.

Stats and data provided by Redfin.

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