Industry News

Real estate sizzles in North Carolina

Existing-home prices climb to $181,901

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Despite cold temperatures, existing-home sales in North Carolina heated up in February, increasing from both the previous year's and previous month's sales figures, according to statistics compiled by the North Carolina Association of Realtors. According to NCAR, 6,231 residential units were sold in February, an 11 percent increase over sales in February 2003. The average cost of an existing home increased as well, rising 7 percent from the previous year's cost to $181,901. When taken together, these two factors account for a 19 percent increase in total sales dollars to $1.13 billion. Areas showing dramatically stronger sales growth in February include Rocky Mount (52 percent); the Outer Banks (49 percent); Pinehurst/Southern Pines (29 percent); Wilmington (27 percent); Jacksonville (20 percent) and the Triangle (19 percent). Price appreciation across the state was strongest in the mountain community of Haywood, followed by Goldsboro, Jacksonville and Wilmington. North Carolina Ass...