North Carolina real estate values vary across the width and breadth of the state, as there are a number of different communities and locations in North Carolina which would exhibit different prices. NC real estate, for example, when examined all across the state in terms of the 145,802 different homes on North Carolina real estate that are currently for sale, exhibits a median price of $173,900.
This median price for NC real estate can be misleading, however, because there are so many examples being taken into account, and the median price is not an average price. There might be outliers far on either end of that median price in parts of North Carolina.
One can attempt to understand the North Carolina real estate market a bit better, however, by looking at the fact that there are 145,802 homes for sale on the NC real estate market, while there were 27,428 recent foreclosures in North Carolina, the properties for which are currently for sale, and there are 398 new homes in North Carolina.
In general, the NC real estate market, after undergoing a steady decline in the median price, has recently seen a significant rise in value, which again, might be misleading, but could indicate that the North Carolina real estate market is beginning to improve. Mortgage rates within the NC real estate market for a 30 year fixed loan currently have an average of close to 4.388%, while a 5/1 year ARM has a rate of 3.145% and a 15 year fixed loan has a 3.974% rate.