North Carolina has breathtaking mountain views, abundant career opportunities, and awe-inspiring coastlines. There’s no wonder that, according to Neighborhood Scout, North Carolina housing is appreciating at a rate that is making heads turn: 7.24% in the last twelve months alone.
Are you thinking of starting your real estate career in North Carolina? Here are six things you should know.
1. The Climate
North Carolina has 213 days of sunshine per year – that’s greater than the U.S. average of 205. It also only averages 4 inches of snow per year, so if you want to get away from the snow, North Carolina might be a great place for you to set up your real estate business.
2. The Cities
Some of the biggest cities in North Carolina include Raleigh, Greensboro, Charlotte, Wilmington, and Asheville.
- Raleigh: home to the North Carolina Museum of Art and Research Triangle Park, the “City of Oaks” is the capital of North Carolina with a population of about 403k. Average home value: $276k.
- Greensboro: Greensboro was the location of one of the most famous sit-ins during the Civil Rights movement, so it’s only natural that the “Gate City” is also home to the International Civil Rights Museum. Population: 270k. Average home value: $144k.
- Charlotte: The “Queen City” is best known for banking. After New York, Charlotte is the United States’ second-largest banking hub. (And it should be noted that banking is America’s third-biggest industry). Population: 873k. Average home value: $226k.
- Wilmington: This port city is the eighth-most populous in the state. It’s also home to EUE Screen Gems Studies, the largest domestic television and movie production facility outside California. Population: 120k. Average home value? $223k.
- Asheville: The Pisgah National Forest and Great Smoky Mountains National Park are a short drive away from Asheville, which has a population of 89k. Average home value: $284k.
3. The Real Estate Market Across the Whole State
The median home value in North Carolina is $185k, and it’s appreciating at about 7.6% per year. The median listing price is $275k, while the median price of sold homes is $198k. The average days a residential property stays on the market in North Carolina is 62 days.
4. The Network
It doesn’t really matter who you are or where you are, the number one thing determining your success is your social network. In his book, The Formula: The Universal Laws of Success, Albert-László Barabási condenses a decade of research into some simple, easy-to-follow rules. Principal among them is the idea that “success relies inherently on the workings of the invisible professional and social networks that shape our world.”
If you want to be the best real estate broker you can be, you need to be socially active within your community.
Here are well-known real estate networking groups in and around North Carolina:
- Triangle Real Estate Networking Club
- Triangle Real Estate Investors Association
- CoreNet Global: Carolinas Chapter
5. The Earning Potential
As we’ve noted above, the real estate market in North Carolina is appreciating at a rate of 7.6% annually. If it keeps up, expect your earning potential as a real estate broker to be high.
6. Continuing Education Opportunities
Passing real estate licensing exams is the first step. The more you learn about the profession and about North Carolina, the better you’ll be at your job.
State and regional Realtor associations, and of course Superior School of Real Estate, are great sources for continuing education through classes, guest speakers, publications, and networking events. Check out our post-licensing and continuing education courses so that you can stay at the top of your game and the top of your market throughout your real estate career.
Are you thinking of making the switch to real estate? Click here to learn more about what it takes to be a real estate broker in North Carolina.