More Homebuyers Looking for North Carolina Condos

While the sales of existing homes have been rising recently, there is another type of property that is peaking Coastal Carolina homebuyer interest— condos.

According to the National Association of Realtors, single family home sales have risen slightly month-to-month this year, but condo sales have seen a spike of over 7 percent. Comparing these two increases with last year's numbers, you will find single family home sales were actually down 7 percent, while condo sales fell flat. It's a significant jump in popularity for both types of North Carolina homes, but condos are coming out ahead.

"We are beginning to see people liking more closer-in developments," said an economist for the National Association of Relators. "The baby boomers who are looking to trade down, they are looking for condominiums. Many of the younger people, if they can qualify to buy, they are looking into the condominium style of living, compared to single family with backyards."

These increases in single family and condo sales come at a time where more Crystal Coast homebuyers are found to be looking at easier living, more often in what are characterized as the suburbs or "exurbs." More Americans are streamlining their finances and their home choices are reflecting that. They're moving to areas like Emerald Isle, Morehead City, Havelock, Beaufort, Atlantic Beach for not just a more relaxed lifestyle, but for condos or homes that allow them to build long-term wealth with Crystal Coast real estate, but also save while doing so.

The median price for a condominium, nationwide, has been lower than single family home prices, according to the NAR. However, last month did see a jump— perhaps due to a stronger demand for the properties.

This summer, the local real estate market will likely see more home sales, many of them condos, as North Carolina homebuyers get the itch for new scenery and change in surroundings, but into a property that makes sense for them and their finances. We will likely see many Crystal Coast homebuyers choosing condos or townhouses.

"It's in the conforming mortgage limits, and people can get into those homes easier," said one East Coast builder.

Contact us today for a list of homes for sale along the Crystal Coast of North Carolina. Whether you're looking for a single family home, condo or townhouse, we're happy to help find a property that works for you!

Gena Gilbert

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