Between the mountains in the west, the Atlantic Coast in the east, and the major cities in the middle, the Carolinas offer a wide range of possibilities for people of all interests and budgets.
If you have been thinking about retiring to the Carolinas, you might be overwhelmed with the number of outstanding options available. Having a general idea of which areas are most expensive and which areas are least expensive is a great way to narrow down your search for the perfect community in North or South Carolina.
According to a recent Home Listing Report from Coldwell Banker, the average home listing price for a four-bedroom, two-bathroom house in North Carolina is $229,112. The average listing price for the same home in South Carolina is $214,206.
These statewide averages can serve as a good starting point for evaluating how expensive a market is compared to the rest of the state.
The report broke the two states down into a total of 105 real estate markets. Let’s combine them and take a look at the ten most expensive and the ten least expensive real estate markets in the Carolinas.
The Ten Most Expensive Real Estate Markets in the Carolinas
Here are the ten most expensive real estate markets in North Carolina and South Carolina by average listing price of a four-bedroom, two-bathroom house:
1. Mount Pleasant, SC – $416,358.25
2. Chapel Hill, NC – $401,765.00
3. Kill Devil/Southern Shores/Kitty Hawk, NC – $395,299.33
4. Ocean Isle Beach, NC – $385, 794.12
5. Sunset Beach, NC – $374,480.00
6. North Myrtle Beach, SC – $369,404.67
7. Oak Island, NC – $348,972.73
8. Charleston, SC – $317,367.69
9. Apex, NC – $315,485.19
10. Cary, NC – $298,708.97
Just outside the top ten were Clemmons, NC, Fort Mill, SC, Hillsborough, NC, and Wake Forest, NC.
Each of these top ten real estate markets is located either along the coast of the Carolinas or near the popular Triangle Area between the cities of Raleigh, Durham, and Chapel Hill.
Access to the amenities of each of the three triangle cities is a popular reason that many people want to live in those real estate markets, and the appeal of living in a beachfront community along the Outer Banks, just north of Myrtle Beach, or in Charleston speaks for itself!
The Ten Least Expensive Real Estate Markets in the Carolinas
Here are the ten least expensive real estate markets in North Carolina and South Carolina by average listing price of a four-bedroom, two-bathroom house:
1. North Charleston, SC – $134,641.92
2. Henderson, NC – $144,112.50
3. Oxford, NC – $151,953.85
4. Kingston, NC – $155,065.00
5. Salisbury, NC – $158,927.27
6. Elgin, SC – $160,548.41
7. Rockingham, NC – $162,221.36
8. Lumberton, NC – $163,031.58
9. Easley, SC – $163,663.86
10. Statesville, NC – $168,459.09
Just outside the top ten where Havelock, NC, Parkton, NC, Lugoff, SC, and Sumter, SC.
Most of the least expensive real estate markets in the Carolinas are in suburban areas that are located more towards the middle of the states. Some of the least expensive real estate markets in North Carolina are located outside the Charlotte area, and some of the least expensive real estate markets in South Carolina are located around the state capitol of Columbia.
Comparing Real Estate Markets in the Carolinas
After compiling all of this data, we find that the old real estate concept of “location, location, location” certainly applies to these markets in the Carolinas. You can almost certainly expect for real estate to be more expensive along the Atlantic Coast and near popular cities like Chapel Hill, North Myrtle Beach, and Charleston.
It is also interesting to note that some of the least expensive real estate markets in North Carolina are not very far from either Charlotte or the Triangle Area, and the least expensive real estate market (North Charleston, SC) in the Carolinas is located right next to the eighth most expensive market (Charleston, SC).
This means that if you decide that you cannot afford to look at a particular market, there is likely one nearby that will fit your budget!
You should also keep in mind that these are just averages, and there are deals to be found in every real estate market in the Carolinas. These prices should merely serve as a general guide on where to direct your search for the perfect home in the Carolinas.