COLDWELL BANKER REAL ESTATE HOME LISTING REPORT FINDS HENDERSON THE MOST AFFORDABLE AND CHAPEL HILL THE MOST EXPENSIVE MARKETS IN NC
(Winston-Salem, NC – December 4, 2014) – Coldwell Banker Real Estate recently released its 2014 Home Listing Report, which named Los Altos, Calif. as the most expensive market in the U.S. for the second time in 3 years. The average four-bedroom, two-bathroom home in the Silicon Valley market costs $1,963,100. This is six times the average in this report, $295,317, and 30 times the cost of a home in the country’s most affordable market, Cleveland, OH, which listed at $64,993.
The annual report is the most extensive home price comparison tool currently available in the United States, ranking the average listing price of four-bedroom, two-bathroom homes in nearly 2,000 markets. While other affordability reports provide average or median prices for all homes in a given area, the Coldwell Banker Home Listing Report analyzes more than 51,000 similar listings to better address how much a home in one market would cost if the same home were located somewhere else in the country.
The survey reviewed 69 real estate markets in North Carolina and found:
· Henderson is the most affordable market in NC, where a four-bedroom, two-bathroom home costs an average of $144,113.
· Chapel Hill was ranked as the most expensive where the same sized property costs an average of $401,765.
· The average price for a four-bedroom, two bathroom home in NC is $228,430 compared to the national average of $295,317.
The Home Listings Report also provides data for each individual state in the country; full data for NC is available at hlr.coldwellbanker.com. The report covers many of the markets in the Triad: from the lowest to the highest average price - Winston-Salem ranked 44th in the state at $204,081; Kernersville was 37th at $209,921; High Point ranked 34th at $214,813; Greensboro was 29th at $222,657; and Clemmons ranked 8th at $279,310.
To be included in the report, markets were required to have a minimum of 10 four-bedroom, two-bathroom home listings between January and June 2014. Markets not included in this year’s ranking did not meet this requirement.