Thursday, June 16, 2011

North Carolina's Most Expensive & Most Affordable Housing Markets


Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 69 real estate markets in North Carolina and found Henderson led the list of most affordable markets in the state, with an average home listing price of approximately $121,117 for property listings meeting the subject home criteria. The report identified Ocean Isle Beach as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $679,375. The difference of more than $550,000 between most expensive and most affordable North Carolina housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in North Carolina overall was $242,033.

The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets. Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe.

"This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities. For instance, we can see that there are 775 U.S. markets averaging $200,000 or less for these types of aspirational homes. We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help today’s buyers make smart decisions.”

This report covers many of the markets right here in the Triad. From lowest to highest average price: Burlington ranked 6th in the state at $159,005; High Point was 18th at $197,815; Winston-Salem was 21st at $199,743; Kernersville was 31st at $214,353; Greensboro ranked 33rd at $215,510; Clemmons was 39th at $231,053 and Lexington came in at 48th for $255,408.

Beverly Godfrey
"When we look at the Triad cities and towns researched in this report, there is a price stretch of almost $100,000. That's pretty significant," said Coldwell Banker Triad, Realtors President and CEO, Beverly Godfrey. "It goes back to some basic principles of real estate- each piece of land is unique and the price tag is established by fair market value. These markets set themselves apart from one another by the different needs they serve, various lifestyles offered, and the natural settings that make each market distinctive. Simply put, they all have different personalities," Godfrey continued.

An interactive graphic summarizing the full results of the Coldwell Banker Home Listing Report is available on coldwellbanker.com. Full national data can be accessed on the Home Listing Report website, and additional state data can be found at http://hlr.coldwellbanker.com/us2011/northcarolina.html.

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 87,000 sales agents working in approximately 3,200 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create an iPhone and iPad application, and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel.  The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.  Each office is independently owned and operated.  


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