North Carolina’s real estate market is exhibiting signs of stabilization, characterized by increased inventory, moderate price adjustments, and varied regional dynamics. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Listing Price: In April 2025, the median listing price in North Carolina was $419,500, reflecting a steady market compared to previous months. FRED
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Average Home Value: The average home value stood at $336,483, marking a 0.6% increase over the past year. Zillow
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Inventory Levels: There were 57,413 homes for sale in April 2025, a 19.8% increase year-over-year, indicating a shift towards a more balanced market. Redfin
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New Listings: The state saw 18,605 new listings in April 2025, up 6.5% from the previous year. Redfin
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Months of Supply: The housing market had a 3-month supply in April 2025, suggesting a move towards equilibrium between buyers and sellers. Redfin
📊 Market Dynamics
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Homes Sold Above List Price: Approximately 21.2% of homes sold above their listing price in April 2025, a decrease from the previous year. Redfin
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Price Drops: About 29.6% of homes experienced price reductions in April 2025, indicating increased seller flexibility.
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Sale-to-List Price Ratio: The ratio stood at 98.3%, suggesting that homes are selling slightly below their listing prices. Redfin
🌆 Regional Highlights
Raleigh
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Median Sale Price: $436,250, up 2.6% year-over-year. Redfin
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Days on Market: Homes are selling after an average of 27 days, compared to 17 days last year. Redfin+2Redfin+2Redfin+2
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Market Conditions: Raleigh remains a seller’s market with a 2.5-month housing inventory. Loan Pronto+1Axios+1
Charlotte
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Median Sale Price: $420,000, a 1.7% decrease year-over-year. FRED+2Redfin+2Redfin+2
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Days on Market: Homes are selling after an average of 41 days, up from 36 days last year. Redfin
Durham
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Median Sale Price: $430,000, up 0.9% year-over-year. Redfin
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Days on Market: Homes are selling after an average of 22 days, compared to 14 days last year. Redfin
Wilmington
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Median Sale Price: $435,000, a 1.2% increase year-over-year. Redfin
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Days on Market: Homes are selling after an average of 26 days, down from 30 days last year.
🔮 Market Outlook
The North Carolina housing market is gradually moving towards balance, with increased inventory providing more options for buyers. While some regions like Raleigh continue to favor sellers, others like Charlotte are experiencing slight price corrections. Overall, the market is expected to remain stable, with moderate price growth and continued demand driven by the state’s economic growth and quality of life.