Eastern Nc - North Carolina Real Estate - 1327 Homes For Sale | Zillow (2024)

FAQs

Is now a good time to sell a house in North Carolina? ›

Selling a house in North Carolina

Home values have increased by 3.4% since last year, and the number of days it takes to sell a home has increased from 32 days in June 2023 to 33 days in June 2024. The best time to sell your home in North Carolina is in July, when homes sell fastest and for the most money.

Understanding the Current Market

As of mid-2024, the North Carolina housing market is experiencing a period of moderate growth. Mortgage rates remain relatively low, making it an attractive time to finance a home. However, fluctuations are possible, so staying updated on rate changes is crucial.

Listings and Sales Are Down in North Carolina

The association's April 2023 NC Housing Report—the latest report at the time of writing—also noted that sales had dropped 22.5% year-over-year. However, sales aren't declining at all price points.

How many questions are on the North Carolina real estate exam? There a total of 140 questions on the exam, including 80 National questions and 60 questions specific to North Carolina.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

The closing phase of residential property sales includes several steps that usually take between thirty and sixty days to complete. If this is your first-time selling property in North Carolina, you may have questions about how closings work and what to expect.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

On the flipside, if you want more homes to choose from and don't mind paying a premium, spring and early summer are good times to buy a house, as April has the most new listings. Most listings hit the market in a short window between the months of April and June.

The National Low Income Housing Coalition's recent report — The Gap: A Shortage of Affordable Homes — found that there are 326,751 extremely low-income households in North Carolina but only 130,930 affordable rental homes available to them.

Is it a seller market in NC? ›

North Carolina is still a seller's market; homes are staying on the market for an average of 4.23 months.

Buying A House In The Fall

Outside of winter, a fall purchase can be ideal for home buyers. Once summer ends, sellers get more motivated. They usually lower their prices and provide an opportunity to get a deal. As is the case with winter, there's also less inventory during the fall.

The North Carolina real estate exam is challenging, making effective study and preparation essential. Focus on exam prep materials, practice exams, and understanding key mathematical formulas to identify and improve weak areas.

How many times can I take the exam in my 180-day eligibility? Applicants are not allowed to retake the license exam for at least 10 calendar days following a failed exam. Other than that waiting period, there is no limit to the number of attempts allowed during the 180-day eligibility period.

North Carolina Real Estate Exam Prep

The state section especially is known for being tricky. In fact, according to NCREC, fewer than 40% of applicants who take the state section of the exam without taking a pre-licensing course (because they are licensed in another state) pass the test.

Worst Times for Price

Predictably, the worst times to sell your home if you're looking to get a good price is in January, February, and March. Very few people put their house on the market this early in the year, so buyers generally get an excellent deal, up to $70,000 better than they otherwise would.

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.

"I think it's the job growth, the population growth and just the lack of inventory, but then you also have with these people with low interest rates, they're staying in their homes longer, they're not moving," he said.

In the state of North Carolina, one out of every 8,175 housing units is currently undergoing foreclosure. North Carolina ranks 26th in the U.S. for its foreclosure rate. While foreclosure completions are at their highest since March 2024, they are still less than half of the pre-pandemic levels of January 2020.