A Look at 5 Top North Carolina Real Estate Investment Markets (2024)

Posted by Deanna Lubin

North Carolina has long been known for its distinctive charm and serene landscapes. From the picturesque Blue Ridge Mountains to the stunning coastal plains, the state's diverse natural beauty is a magnet for those seeking a lifestyle that balances urban vibrancy and natural tranquility.

But there's more to the Tar Heel State than meets the eye, particularly for the real estate investor. With cities featuring some of the country's most robust and attractive housing markets, North Carolina offers ample opportunities for lucrative property investments in 2023.

Raleigh, also known as the "City of Oaks," offers an enticing blend of vibrant city life and a fast-growing tech scene, making it a hub of economic activity. This bustling city is home to an increasing number of residents, with a population growth rate of 1.09% since the 2020 census, bringing the current population to approximately 472,540 in 2023[1].

Despite a slight decrease of 2.4% in median home prices[2], Raleigh's real estate market is still thriving. With homes selling in an average of just 34 days[3], the city presents a dynamic environment for investors looking for quick turnarounds and high investment returns. The tech-driven growth and economic prosperity create a strong demand for housing, favoring both rental and purchase markets.

Charlotte, North Carolina, the largest city in the state, presents a dynamic and appealing landscape for real estate investors. Known as the "Queen City," Charlotte boasts a thriving culture, a vibrant entertainment scene, and a robust economy. The city's steady population growth of 0.34% per year, reaching a current population of 885,663[6], indicates a strong demand for housing, driving potential for lucrative investment opportunities.

The city's real estate market showcases stability, with modest price increases of 1.5% year over year[7]. The median home price currently stands at $410K, suggesting opportunities for entry-level and seasoned investors alike[8]. This steady price appreciation indicates potential for long-term investment returns while mitigating the risk of market volatility.

Charlotte's thriving economy, particularly its technology sector, is another major draw for investors. With a robust 13 projects announced in Q1-2023, representing $2.2 billion in capital investment and creating 1,500 jobs, the city's economic growth directly fuels its housing demand[9]. Considering these factors, real estate investors could explore several strategies:

Winston-Salem, North Carolina, lovingly known as the "City of Arts and Innovation," offers an appealing blend of rich history and a forward-thinking spirit, creating an enticing landscape for real estate investors.

The city's stable real estate market showcases a median home price of $270K[10], presenting affordability and opportunities for various real estate investors. Properties on the market are moving at a brisk pace, with homes selling within an average of just 26 days[11]. This indicates a robust and active real estate environment that's advantageous for investors, particularly those looking for quick turnovers.

Population growth in the Winston-Salem metro area has been steady, reaching 537,000 in 2023[12]. This consistent growth suggests a strong demand for housing, presenting opportunities for both rental and sale investments.

The city's vibrant economic landscape is diversified, featuring a blend of technology, finance, healthcare, and tobacco industries[13]. This diversified economy and a significant focus on emerging fields like nanotech and biotech research add to the city's appeal. While the average income is slightly below the national average, the lower cost of living makes the city attractive for a broad demographic spectrum, enhancing its potential for real estate investments.

Given these factors, potential exit strategies for real estate investors in Winston-Salem could include:

Durham, North Carolina, fondly known as the "Bull City," presents real estate investors with a dynamic and active market ripe for exploration and investment.

The city's real estate market remains strong and active, with properties selling within approximately 33 days on average, despite a slight decrease in home prices. With a median home price of $412K as of May 2023, Durham offers a competitive and accessible entry point for investors[14]. This affordability and the active market dynamics provide the potential for capital appreciation and quick property turnover.

Durham's steady population growth, which reached 434,000 in 2023, signals an ongoing demand for housing[15]. This is further driven by the city's thriving tech industry and the prominent presence of Duke University, contributing to a consistent influx of professionals and students. This increasing demand for housing offers robust opportunities for rental and sale investments.

The city's emphasis on creativity, innovation, and community spirit provides an appealing backdrop for the evolving real estate landscape. The vibrant cultural scene, highlighted by notable events like the American Dance Festival and Full Frame Documentary Film Festival, adds to the city's overall allure. This rich cultural fabric enhances the attractiveness of Durham's real estate market, contributing positively to property values and investment potential.

Given these dynamics, potential exit strategies for real estate investors in Durham could include:

Greensboro, the third-largest city in North Carolina, offers a blend of southern charm and urban appeal, which sets a promising stage for real estate investors. Its rich history and academic presence, housing prominent universities like the University of North Carolina at Greensboro and North Carolina A&T State University, add to its unique appeal.

Despite a slight decrease of 3.4% in home prices compared to last year[16], the real estate market in Greensboro is robust and active. The median home price stands at $256K, with homes typically selling within 22 days[17]. This represents an affordable entry point for investors, and the brisk market movement suggests the potential for quick turnovers.

Greensboro's economy, bolstered by key sectors such as education, healthcare, and transportation, provides a stable backdrop for the real estate market. Major employers in the area include Guilford County Schools, the Moses H. Cone Memorial Hospital, and the city itself[18]. This strong job market can contribute to a reliable demand for housing from employees seeking residences near their workplaces.

The population of the Greensboro metro area reached 372,000 in 2023, showing a consistent growth trend[19]. This growing population fuels the demand for rental and owned properties, a positive sign for investors. Given these factors, here are some potential exit strategies for real estate investors in Greensboro:

Kiavi understands the market landscape and is committed to helping you navigate through investing in North Carolina real estate. We are equipped with the expertise and the passion to drive your real estate investment goals to successful realities with fast, easy, and reliable financing.

Kiavi's platform breaks down traditional barriers, automates the dull stuff, and brings speed, flexibility, and transparency. Whether you're dipping your toes into investing or you've been swimming in the deep end for a while, we've got your back.

Our offerings, like Fix and Flip/Bridge Loans, DSCR Rental Loans, and Rental Portfolio Loans, provide the financial backing you need. And with our team's deep understanding of today's investors' unique needs and challenges, Kiavi is ready to be your sidekick in this exciting adventure.

And so, as the sun sets on our North Carolina journey, we invite you to step into the future of real estate investing with Kiavi. We believe in making your investment dreams a reality, and together, we can unlock the potential of the Tar Heel State.