• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Current home values in North Carolina

Home values have been rising throughout North Carolina and are up 10.5% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $430,911, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in North Carolina: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $430,911 home at 3.33% would give a typical North Carolina homebuyer a monthly payment of $1,515, assuming a 20% down payment.

Stop overpaying for home insurance

Home insurance is an essential expense – one that can often be pricey. You can lower your monthly recurring expenses by finding a more economical alternative for home insurance.

Officialhomeinsurance can help you do just that. Their online marketplace of vetted home insurance providers allows you to quickly shop around for rates from the country’s top insurance companies, and ensure you’re paying the lowest price possible for your home insurance.

Explore better rates

How the North Carolina housing market stacks up

Older couple enjoying the beach
iofoto / Shutterstock
Older couple enjoying one of many North Carolina's beaches during the summer

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in North Carolina, they're predicted to rise 5.7%.

Homes right now are going on the market in North Carolina at a median price of $136 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

North Carolina home prices over the last 10 years

Year Avg. Price
2020* $207,047
2019 $187,388
2018 $175,975
2017 $164,100
2016 $153,175
2015 $145,867
2014 $141,558
2013 $137,750
2012 $136,000
2011 $137,400
2010 $143,542
2009 $147,408

*2020 price average through March 31, 2020.

Need cash? Tap into your home equity

As home prices have increased, the average homeowner is sitting on a record amount of home equity. Savvy homeowners are tapping into their equity to consolidate debt, pay for home improvements, or tackle unexpected expenses. Rocket Mortgage, the nation's largest mortgage lender, offers competitive rates and expert guidance.

Get Started

How much for an average-sized home?

Here's what a 2,500-square-foot home in North Carolina is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $340,254
2019 $290,000
2018 $270,000
2017 $252,500
2016 $237,500
2015 $225,000
2014 $217,500
2013 $212,500
2012 $210,000
2011 $212,500
2010 $222,500
2009 $227,500

*2020 price average through March 31, 2020.

Sponsored

Follow These Steps if you Want to Retire Early

Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.

Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.

About the Author

Doug Whiteman

Doug Whiteman

Former Editor-in-Chief

Doug Whiteman was formerly the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."

What to Read Next

It's a lengthy, complicated process, so just keep your eyes on the prize: your new home.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.