HomeGain Releases 3rd Qtr North Carolina Home Prices Survey

Posted by: Louis Cammarosano on August 26th, 2009

Earlier this week, HomeGain, the first website to provide free instant home values, released the national and regional results of our  home prices survey of 1,084 current and former HomeGain members. The survey asked their opinions on home values and of Barack Obama’s performance as President. On this real estate blog we published the complete national and regional third quarter results.

Earlier this week we published the results of the California home prices, Texas home prices and Florida home prices surveys.

Today we published the Massachusettes home prices survey data ,the  New York home prices survey and the New Jersey home prices survey data.

Today we are releasing the North Carolina home prices survey data.

According to the home values survey, North Carolina home owners are back to thinking their homes are worth more than their Realtors recommend. In the first quarter survey 63% of North Carolina home owners believed that their homes were worth 10-20% higher than the Realtor recommended listing price. That percentage dropped to 27% in the second quarter North Carolina home prices survey and has risen to 32% in the current survey. Forty-eight percent of North Carolina home owners now believe that their homes should be priced 1-9% higher than the Realtor recommended listing price up from 20% in the second quarter. (see question 2).

North Carolina buyers views on home prices remained relatively unchanged from the second quarter North Carolina home prices survey. The majority of home buyers in the Tar Heel State believe homes are either fairly priced or withing 10% of the asking price. (See question 3)

The percentage of North Carolina Realtors that think home prices will decrease, ticked up in the third quarter with 32% thinking that home values will decrease in the next six months, vs. 22% who thought the same in the second quarter. (see question 6)

Sixty-two percent of North Carolina Realtors surveyed disapproved of Obama’s performance as President vs. 58% of surveyed Realtors nationally.

Set forth below is the first, second and third quarter North Carolina home prices survey data with the national data in parenthesis:

1. On average, in the last year do you think your homeowner clients home values have:


Decreased: 74%/80%/81% (81%/84%/90%)

Increased: 10%/5%/7% (6%/3%/2%)

Stay the same: 16%/15%/11% (13%/12%/8%)

2. On average, what do your homeowner clients believe that their home is worth?


10-20% higher: 32%/27%/63% (38%/35%/45%)

10-20% less: 0%/12%/15% (5%/8%/10%)

1-9% higher: 48%/20%/* (25%/24%/*)

1-9% less: 3%/10%/* (7%/9%/*)

21-30% higher: 10%/15%/11% (8%/8%/14%)

21-30% less: 0%/2%/* (2%/3%/*)

At listing price you recommend: 6%/10%/11% (11%/10%/14%)

More than 30% higher: 0%/2%/0% (3%/2%/4%)

More than 30% less: 0%/2%/* (1%/2%/1%)

3. How do your home buyer clients feel that homes for sale are priced?


Fairly priced: 19%/15%/19% (20%/19%/18%)

Overpriced by 10-20%: 26%/24%/37% (30%/30%/32%)

Overpriced by 21%+: 10%/7%/0% (4%/4%/10%)

Overpriced by less than 10%: 35%/32%/26% (30%/29%/21%)

Underpriced by 10-20%: 3%/7%/15% (8%/8%/14%)

Underpriced by 21-30%: 0%/2%/0% (2%/1%/2%)

Underpriced by 31%+: 0%/7%/0% (1%/1%/2%)

Underpriced by less than 10%: 6%/5%/4% (5%/5%/5%)

4. What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?


Greater than 11-20%: 3%/5% (5%/7%)

Greater than 21%: 0%/10% (3%/3%)

Greater than 5-10%: 13%/20% (9%/10%)

Less than 11-20%: 13%/15% (24%/23%)

Less than 21-30%: 0%/2% (4%/5%)

Less than 5-10%: 58%/41% (43%/43%)

Little or no difference in price: 13%/7% (12%/8%)

5. What is the average difference in price between what the home is listed at and what the home sells for?


Greater than 11-20%: 3%/0% (4%/4%)

Greater than 21%: 0%/5% (2%/2%)

Greater than 5-10%: 0%/2% (5%/5%)

Less than 11-20%: 13%/29% (24%/27%)

Less than 21-30%: 3%/7% (3%/4%)

Less than 5-10%: 65%/56% (54%/53%)

Little or no difference in price: 16%/0% (8%/5%)

6. In the next six months, do you think the values of homes in your market will:


Decrease: 32%/22%/48% (31%/29%/53%)

Increase: 19%/27%/19% (23%/22%/11%)

Stay the same: 48%/51%/33% (46%/49%/36%)

7. What percent of homes in your area are foreclosures?


Less than 10%: 71%/39%/63% (36%/26%/37%)

10%-20%: 19%/27%/33% (27%/15%/26%)

21%-30%: 6%/15%/4% (17%/12%/16%)

31%-50%: 3%/10%/0% (13%/7%/15%)

51%-75%: 0%/10%/0% (5%/3%/5%)

75%: 0%/0% (2%/3%/2%)

8. What is the average home price in your area?


$151K-$300K: 84%/66%/85% (52%/56%/59%)

$301K-$500K: 6%/12%/7% (21%/20%/21%)

$501K-$800K: 0%/2%/0% (7%/5%/6%)

$801K+: 0%/0%/0% (2%/3%/2%)

Less than $150K: 10%/20%/7% (18%/16%/11%)

9. How do you think Barack Obama is performing in his role as President?


Somewhat approve – 17%/34% (21%/31%)

Somewhat disapprove – 17%/13% (19%/19%)

Strongly approve – 21%/24% (20%/26%)

Strongly disapprove – 45%/28% (40%/24%)

* Data not available

See National and Regional Survey Results

Try HomeGain’s Instant Home Values tool

Check North Carolina home prices on homegain.com

Charlotte home prices

Raleigh home prices

Greensboro home prices

Winston-Salem home prices

Durham home prices

Fayetteville home prices

Cary home prices

High Point home prices

Wilmington home prices

Greenville home prices

Asheville home prices

Gastonia home prices

Chapel Hill home prices

Search Charlotte real estate

Find Charlotte homes for sale

Search Fayetteville real estate

Find Fayetteville homes for sale

Search Cary real estate

Find Cary homes for sale

View North Carolina homes for sale

Search North Carolina Real estate

Find U.S. homes for sale and search U.S. real estate

HomeGain real estate home values survey results are based on responses of over 1,150 Realtors in the United States. State survey results for Q2 are available for the following states : Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices survey, Georgia home prices survey, Arizona home prices survey, North Carolina home prices survey, Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano




One Response on “HomeGain Releases 3rd Qtr North Carolina Home Prices Survey”


Hopefully we see a turn around in the North Carolina real estate market in 2010. If you need assistance in the Charlotte area you can find my contact information at my Charlotte Real Estate website.

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