Homes in these 4 NC cities are the most overpriced in the state. See where and how much
Some North Carolina housing markets are among the most overpriced in the country, including Charlotte, a new report says.
Home prices have continually risen as the spring home-buying season continues, up an estimated 39.5% from February to March, The Charlotte Observer previously reported.
According to a report from Florida Atlantic University and Florida International University, the city ranked eighth on the list of the top 100 U.S. metro housing markets considered overvalued at 43.2%.
Using data from Zillow and other housing providers, researchers compiled a list of overpriced or underpriced metropolitan cities in the U.S. that highlights the average premium or discounts that homeowners have paid in each metro in recent years.
The findings show that in March, the average home price in Charlotte was $361,080, but the expected price was $252,150.
In addition to Charlotte, Winston, Greensboro, and Durham also ranked among the top 20 overpriced housing markets in the U.S.
Here’s how North Carolina cities compared to other top metros across the country:
Rank | Metro | Percent overvalued |
1 | Atlanta, GA | 49.71% |
2 | Detroit, MI | 45.91% |
3 | Cape Coral, FL | 45.34% |
4 | Tampa, FL | 45.18% |
5 | North Port, FL | 44.63% |
6 | Memphis, TN | 44.15% |
7 | Lakeland, FL | 43.63% |
8 | Charlotte, NC | 43.20% |
9 | Palm Bay, FL | 41.91% |
10 | Jacksonville, FL | 41.58% |
11 | Deltona, FL | 40.62% |
12 | Winston, NC | 40.53% |
13 | Orlando, FL | 40.15% |
14 | Miami, FL | 39.38% |
15 | Las Vegas, NV | 37.90% |
16 | Greensboro, NC | 37.64% |
17 | Knoxville, TN | 37.18% |
18 | Durham, NC | 36.43% |
19 | Grand Rapids, MI | 36.43% |
20 | Phoenix, AZ | 36.28% |
This story was originally published May 15, 2023 at 2:37 PM.
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