When the necessity or desire for purchasing real estate appears, so do many questions and even some obstacles. The biggest are those concerning the budget and the price of a certain property. More often than not, people are forced to make compromises so that they can afford to buy real estate. Some give up locations, others the size of the housing, while some spend years in search of a perfect neighborhood. In the USA, the situation in the real estate market is constantly changing. If we would take a look at North Carolina real estate market, we would see how the prices have gone up. In case you are interested in buying a property in this state, then you’ll be interested to take a look at the current situation.
Know what influences the housing prices
Before you decide on buying a certain real estate and moving into a new house without stress, you first need to learn how the world of real estate functions. In most cases, people want to know what are the factors which affect the rise or fall of properties. The following list will contain the biggest influencers:
- Demand for housing. Normally, when there’s an increased demand for purchasing a land or real estate in a certain area, that is one of the major causes for the price growth.
- Economic situation also dictates the average price of housing. In areas where the unemployment rate is lower, and people are more paid for their work, you will have a situation where you are required to pay more per square feet.
- The location of a real estate is also crucial. If you ever had to move, you could have learned that the closer you are to the city center, the hirer the rent/price is. It is logical that people tend to find homes closer to public transportation, or major cities. But for that, they will have to invest more money.
- Improvements or subsequent upgrading of the house can largely influence its price. In case you decide to sell your house, the better the condition4 of it is, the higher the price you can set. Moreover, if you’re selling a completely furnished house, that can also greatly determine the overall cost.
What to expect from North Carolina real estate market in 2018?
If you would take a look at the numbers regarding the state on the real estate market in North Carolina, you could notice that prices have gone up in the past couple of years. The reasons for that can be found in a simple fact that the demand for housing has increased and that the unemployment rate is in the line with the state average. Let us see what can you expect if you decide to move here.
As a top destination in North Carolina, you can only expect that the average home price is notably higher than in the rest of North Carolina. If you decide to invest in real estate here, you will find that the price for a house is roughly around $188,000. Of course, there’s a difference in the size of housing. For a home with one bedroom, you are ought to allot around $100,000. The price for a two-bedroom house goes up to $120,000.
If you’re planning to rent a house, then the estimated price is around $960. In the rest of Carolina, the price is around $815. But in order to find the most convenient property for your budget, contacting a moving company with a good reputation will save you a lot of trouble and time. Throughout the years, many moving companies in North Carolina have fought to gain a reputation of a trustworthy company, and the pure quality of Moving Kings NC has launched this company to a position in which they are recognized by a huge number of people willing to give their trust to them. So, if you want to learn everything you want to know about moving and get valuable pieces of advice, visit movingkingsnc.com to obtain more information.
Concord might be THE place for you if you are looking for a perfect life. With a highly favorable location, not too far away from Charlotte, Concord is gaining more popularity. However, one could think that the housing price would be higher than in the most parts of NC and differ from the rest of North Carolina real estate market. Luckily, it is not. So, the average price is around $168,300, and this leaves more than enough money for most residents of Concord to enjoy a happy life and lead a great lifestyle.
If you decide to move to Pittsboro, rent for three-bedroom houses goes from $1200 up to $2500 per month. The highest average house prices for sale in Pittsburgh were up to $370 thousand in March this year. However, by the end of September, the price has dropped to around $300 thousand. You will be also happy to hear that the median price for renting has also come down.
Durham has found its place on this list for a good reason. For years it has been one of the most desirable ones for life. It is very affordable, with beautiful surroundings. For renting, you should only pay around $850. It can’t be better than that! Moreover, Durham is filled with students since one of the top universities – Duke University is located here. Plus, people of Durham appreciate a good bite here. This means you won’t have any bad food day. Perhaps this is the most favorable time for finding a realtor to help you locate the best real estate for you.
What can we say about this beautiful city, but that it is a paradise? Great job opportunities, low unemployment rate, a great housing potential, and above all it very affordable. One can surely find a place for himself here. And the chances of finding a dream job are very high.
When analyzing North Carolina real estate market, try finding the best time for purchasing your home. Take into consideration the location and the opportunity for further investment if you ever wish to sell your home so that you could sell it at an even higher price.