NC has 5 of the most overpriced housing markets in the US. Here’s where (and by how much)
Housing costs have changed quite a bit over the past few years, and according to a new report, North Carolina has some of the most overpriced housing markets in the country.
Researchers from Florida Atlantic University released a list of the top 100 most overpriced and under-priced cities in the U.S. Of the most expensive metros, five in North Carolina ranked among the top overpriced areas: Charlotte, Durham, Winston-Salem, Greensboro and Raleigh.
Using housing March 2024 data from Zillow and other providers, here’s how each city varies by over or under-pricing in comparison to its long-term pricing trend, according to the report:
Charlotte, NC (ranked #10)
Average price: $380,893
Expected price: $280,813.6
Premium discount: 35.64%
Durham, NC (ranked #19)
Average price: $410,546
Expected price: $311,386
Premium discount: 31.84%
Winston-Salem, NC (ranked #20)
Average price: $262,005
Expected price: $198,879
Premium discount: 31.74%
Greensboro, NC (ranked #21)
Average price: $251,828
Expected price: $191,380.3
Premium discount: 31.59%
Raleigh, NC (ranked #37)
Average price: $443,716
Expected price: $349,062.5
Premium discount: 27.12%
In comparison, Atlanta, Detroit, Cape Coral, Tampa and Las Vegas were ranked at the top of the list as the most overpriced housing markets in the U.S. You can find more information in the full report online at business.fau.edu/executive-education/housing-market-ranking/housing-top-100/index.php
This story was originally published May 28, 2024 at 9:47 AM with the headline "NC has 5 of the most overpriced housing markets in the US. Here’s where (and by how much)."
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