Southport Oak Island Realty Group, Inc

Home Prices Are Climbing In Top Cities Across The Country

Thinking about buying a home in Southport, NC or the Oak Island, NC area or possibly selling your current North Carolina Beach Home to find a better fit? If so, you might be wondering what’s going on with home prices these days. Here’s the scoop.

The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up

As you can see, home prices were rising for most of 2023, which of course most of us are aware of…. But over the course of December and January, home prices in Southport, NC and Oak Island, NC were virtually flat, which is pretty normal for that time of year.

But here’s what you need to know now as a potential home-buyer or home-seller in Southport or Oak Island North Carolina. As of February, when the spring market kicked off, prices were on the rise again in North Carolina.

Home Prices Are STILL Going Up in Most of America’s Top Cities

After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in our local Southport, NC and Oak Island, NC area, too. While it depends on exactly where you live in Brunswick County, NC; prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index

Most experts also think home prices will keep rising in North Carolina and end the year on a high note. Forbes explains why:

“Even as mortgage rates have reached their highest level since November, persistent demand coupled with limited housing supply are key drivers pushing home values upward.”

How This Impacts You:

  • For Buyers In North Carolina: If you’re ready, willing, and able to buy a home in North Carolina, purchasing before prices go up even more might be a smart choice, since home values are expected to keep climbing.
  • For Sellers In North Carolina: Prices are going up because there still aren’t enough homes available for sale right now compared to today’s buyer demand. So, if you work with a North Carolina Real Estate Agent to PRICE YOUR HOME RIGHT, you might receive multiple offers and sell quickly. 

The data shows home prices are increasing nationally as well as in North Carolina. Let’s chat to see exactly what’s going on with prices in your neighborhood.

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Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

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