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Summer Carteret County Market Update

By: Mary Cheatham King / 24 Jun 2024

During the throes of the pandemic, Carteret County saw a huge rush of people packing up their offices and moving to the area to work remotely. In addition to our beautiful coastal location, our school system is one of the top in the state, our incredible hospital (a Mayo Clinic Care Member) is expanding, and new small businesses are opening their doors every month. The relocation boom led to a steady increase in Carteret County home prices.  

Across the US, other real estate markets saw the same initial COVID-related increase in values, but many then experienced a decline in prices as the dust settled. In Carteret County, limited inventory prevented the post-pandemic dip that impacted other markets. Locally, our market maintained the jump in values from the initial rush to the coast, and prices have continued to increase, with 2024 on a strong trajectory for growth.  

For a buyer: Property values are substantially higher than they were four years ago, but statistics indicate this is sustainable growth and not a bubble. Think of it this way: if interest rates were to plummet, values would skyrocket. With homes still much more affordable than neighboring markets like Wilmington and with travel times only getting shorter thanks to the I-42 expansion, values should hold strong.  

For a seller: Inventory remains low and demand remains high. With inventory particularly tight so far in 2024 (see graph below), conditions are prime for an ideal sale. 


To see what your home could be worth in today's real estate market, fill out our home value analysis tool HERE. 

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