5 Most Expensive Places to Buy in North Carolina

From the mountains to the sea, North Carolina has incredible places to live that deliver whatever lifestyle you want. Beachfront, golf course communities, mountain retreats–North Carolina has been all. But living this luxuriously, in the state’s most desirable locations, comes with a housing price tag to match. The most famous destinations are also among the most expensive to buy a home in North Carolina.

We reviewed the US Census 2022 reported median housing values and the median sale prices of single-family homes in the third quarter of 2023. Our list pinpoints the North Carolina metros and cities where buying a home requires a larger budget.

Asheville

The fifth most expensive metro to buy a North Carolina home starts us with a city famous as a jumping-off point for mountain adventure. Charming Asheville has long been a top place to live. It’s hailed for its energetic vibe, access to adventure sports, and deep-rooted artistic culture.

Supporting a rich cultural tapestry are numerous galleries, theaters, and music venues that foster creativity and expression. A thriving local food and craft scene ranked no. 1 by Travel + Leisure in 2022 lends it the nickname “Beer City, USA.”

The breathtaking natural surroundings of the Blue Ridge Mountains and the French Broad River complement what’s in the city. Outdoor enthusiasts have hundreds of miles of hiking or biking trails, waterfalls to discover, and a full suite of recreational activities.

Add to that Asheville’s commitment to sustainability, and you have a unique and progressive lifestyle that makes a living here in such high demand.

The Asheville metro includes prime suburbs like Biltmore Forest, Woodfin, and Arden. In terms of its housing market, Asheville area homes had a median home sale price of $402,990 for 2023, up 6.1% year-over-year. Prices are still rising, with median sale prices at $412,000 for December 2023, an 11.3% year-over-year increase. That’s a testament to the attraction of living in and near North Carolina’s mountains.

Charlotte

Ranked by US News and World as the second-best place to live in North Carolina–and the 8th-best in the nation– Charlotte hits checkmark after checkmark. The greater metro economy is stable and thriving for jobs, with the city serving as the most significant financial hub outside Wall Street. Financial trades are predominant, but the metro’s workforce is highly diversified, with ample careers in health, education, transportation, and government. Unemployment rates typically fall under the US average.

Charlotte may be a major commercial hub, but people wouldn’t want to stay unless it had everything needed for a well-rounded lifestyle. The good news: it does. Find excellent public and private schools for the kids, universities to expand career choices, and access to top-tier medical care.

It’s also highly creative, with multiple art and culture museums, a storied NASCAR history, and large-scale performance venues perfect for mega concerts by icons like Taylor Swift or Beyonce. Top festivals include the Queen City Brewers Festival, the Festival in the Park, and the Kings Drive ArtWalk.

Uptown Charlotte is a favorite place to hang out because of its museums, music venues, and trendy dining choices. The city also has an incredible urban outdoor sports park at the US Whitewater Center, access to the state’s largest freshwater lake, and countless parks.

Its real estate market is as diverse as its amenities. Top-ranked suburbs like Davidson and Mooresville are within the greater metro, as are Gastonia and Concord. The combined median home value for greater Charlotte was $352,000. For perspective, the inner Charlotte metro had a median sold price of $405,000, 2% growth from 2022 to 2023. With so many neighborhoods in Charlotte, a local real estate agent can provide a closer look at the most expensive places to live here.

Wilmington, NC

If you’re interested in living coastal, you won’t necessarily find a deal in Wilmington, the third most expensive North Carolina city to buy a home. Part of that is the waterfront, but the other is the lifestyle.

This city on the Cape Fear River boasts one of the nation’s top river walks. It’s a commercial strip right on the river packed with entertainment, dining, and excellent shopping. When you want to get away, a short drive down Highway 421 is the beautiful oceanfront destinations of Kure Beach and Carolina Beach.

Besides the things to do, Wilmington’s other perks include a public university, a solid public school system, and excellent health care access. Wilmington is an economic and cultural epicenter for far southern North Carolina.

But in terms of housing, it is the third most expensive metro area in North Carolina, especially considering pricing beats out the housing market in Charlotte, which is home to over a million people. For comparison, the city has over 115,000 people and just 280,000 in the metro. The home value here was $357,000, but the big push was October’s median sale price of $456,600, which was up 11% from last year.

Durham-Chapel Hill

Home to world-renowned universities, the metro of Durham–Chapel Hill stands out for its economic relevance–and its housing price tag, as the state’s second-most expensive place to buy a home.

Part of the Triangle region, part of what draws people here are the medical research and bioscience industry leaders and the technical innovators working at Research Triangle Park. Companies here have made incredible breakthroughs in multiple scientific fields, from AstroTurf to cancer treatments. All that intellectual capital may be Durham’s strength, as it drives its economic and education ranking. It also makes its housing market equally robust.

Durham is home to UNC-Chapel Hill, nationally ranked the fourth-best public university in the country for 2023, and Duke University, ranked 7th overall among national universities. Besides these schools and their research arms, other major employers include IBM, Biogen, Deloitte, FHI 360, and Quintiles. Some call Durham “The City of Medicine” for all its healthcare-related companies.

Education and lucrative employment draw people to Durham, increasing demand and home value. It was the second most expensive place to buy a home in North Carolina, with a median home value of $366,000. However, the median home prices for 2023 far exceed that. As of November 2023, home buyers paid $421,165 to set roots down in the metro area, a 2.7% increase from 2022. See more recent data on the Durham real estate market.

Raleigh-Cary

The state’s most expensive housing market had median home values of $424,700. Raleigh–Cary stands out as a place to live for multiple reasons. As a neighbor to Durham, it has the same access to high-quality public, private, lower, and higher education. Research Triangle Park is next door, so robust research and manufacturing career choices exist. Raleigh is also the state capital, so government work and related occupations further add stability to its economy and, in turn, demand for local housing.

In addition to the same educational and economic vitality as Durham, the city has a high quality of life. Its commitment to green spaces and outdoor recreation is evident in its extensive network of parks, greenways, and recreational facilities. Residents enjoy an active and healthy lifestyle. Culturally, many museums, theaters, and music venues add to the list of things to do. The North Carolina Museum of Art and the Museum of Natural Sciences are top attractions for the whole family.

Raleigh’s suburbs are some of the state’s best places to live, as are its suburbs like Cary, Apex, and Morrisville. Combined with Durham and Chapel Hill, Raleigh-Durham is the best place to live in the state and third best in the nation, says US News and World Report.

Focusing back on the Raleigh-Cary metro, the October 2023 median home price was $478,600. Prices were up 3.9% year-over-year despite that month’s record-high mortgage interest rates. See more recent data on the Raleigh real estate market.

Most Expensive North Carolina Metros

Living in these cities delivers an unparalleled modern lifestyle, where the everyday becomes extraordinary. While the price tags may be steep, the investment in buying a North Carolina home extends beyond mere real estate. It’s about investing in quality education, careers, and top-rated essential services. From the bustling metropolis of Charlotte to the artsy haven of Asheville and the dynamic capital city of Raleigh, these markets set the standard for what abundant living means in the Tar Heel State.