Elizabeth City, NC

There are many reasons to believe that the Elizabeth City, NC metropolitan statistical area (MSA) is a great place to invest in real estate. The population is growing, the economy is strong, and there is a lot of new development taking place. Here are some of the latest trends in the housing market that you should be aware of:

1. Home prices are on the rise.

The average home price in Elizabeth City, NC has been steadily increasing over the past few years. In 2017, the average home price was $176,000. In 2018, it rose to $185,000. And as of 2019, the average home price has reached $196,000. This trend is expected to continue as more and more people move to Elizabeth City and demand for housing increases.

2. More people are renting than ever before.

Due to high home prices and increased job insecurity, more people are choosing to rent rather than buy a home. The vacancy rate for rental properties in Elizabeth City is only 2%, which means there is high demand for rentals and landlords can charge premium prices. If you're thinking about investing in rental property in Elizabeth City, now is a great time to do it!

3. New construction is booming.

AsElizabeth City's population continues to grow, so does the demand for new homes and businesses. As a result, there has been a boom in new construction over the past few years. If you're thinking about investing in real estate development projectsin Elizabeth City, now is a great time to do it!