Central NC Real Estate Market Report: March 2025

As of March 5, 2025, the Central North Carolina real estate market, encompassing areas from Greensboro to Charlotte—including Winston-Salem, High Point, Asheboro, Thomasville, Lexington, Salisbury, China Grove, Concord, and Kannapolis—continues to exhibit resilience amid evolving economic conditions. Current data indicates a stable market with moderate growth in home prices and sustained demand.​

Key Market Trends

Home Prices

Home prices in North Carolina have experienced a year-over-year increase of approximately 3.7% as of January 2025.This upward trend reflects the state's ongoing appeal and economic vitality.​

Inventory Levels

The number of homes for sale in North Carolina has risen by 17.7% year-over-year as of January 2025. This increase in inventory provides buyers with more options, potentially easing some of the competitive pressures seen in previous years.​

Days on Market

The median days on market for properties in North Carolina stood at 69 days as of February 2025, a decrease from 75 days in January 2025. This reduction suggests a quicker turnover of properties, indicative of sustained buyer interest.

Mortgage Rates

Mortgage rates seem to be stabilizing, averaging in the mid-6% or slightly above as of March 2025, and could go lower. While higher than pre-pandemic levels, these rates have not significantly dampened buyer enthusiasm, particularly among those relocating from higher-cost regions.​

New Construction

Builders are actively addressing the housing shortage by increasing new construction projects across the state. This effort aims to meet the growing demand and alleviate inventory constraints. ​

Rental Market

The rental market remains robust, with rent prices increasing due to sustained demand. Investors continue to find opportunities in cities like Winston-Salem, High Point, and Kannapolis, where rental yields are attractive.​

City-Specific Insights

Greensboro: Experiencing steady home price growth, with a balanced market offering opportunities for both buyers and sellers.​

Winston-Salem: Noted for its affordable housing options, attracting first-time homebuyers and investors alike.​steadily.

High Point: Continues to benefit from its furniture industry heritage, with a stable real estate market.​

Concord and Kannapolis: Proximity to Charlotte contributes to increased demand, leading to moderate home price appreciation.

Conclusion

The Central North Carolina real estate market as of March 2025 remains healthy, characterized by moderate home price growth, increased inventory, and sustained demand. Stabilizing mortgage rates and active new construction efforts are contributing to a more balanced market environment. Both buyers and sellers should stay informed of local trends to navigate the market effectively.​

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Douglas Lail Real Estate operates as an independent contractor through Key Real Estate, Inc. (704) 857-0539.