Real Estate Directory - North Carolina

Population: 8,683,242 (2005)
Capital city/population: Raleigh 316,802 (2003 figures)
Largest cities/population:

  • Charlotte - 584,658
  • Raleigh - 316,802
  • Greensboro - 229,110
  • Durham - 198,376

North Carolina is the 28th largest state, with a total area of 53,821 square miles. Residents enjoy a very favorable climate, which ranges from subtropical to temperate. Average annual temperature varies from 55ºF - 63ºF; however, extremes have been recorded anywhere from -34ºF - 110ºF. Annual precipitation varies from 40” – 75”. North Carolina was admitted into the Union on November 21, 1789. The first English colony in America was located on Roanoke Island, founded by Walter Raleigh. The colony vanished mysteriously, with no trace save for the word “Croatoan” etched on a tree. Virginia Dare, the first English child born in America was born in Roanoke in 1587.

HOUSING

Charlotte – Average sale price of homes has been $222,087, with homes earning 97% of the asking price and remaining on the market for approximately 73 days. Average sales prices for the third quarter of 2005 rose 8% over the same period the previous year. Agents report a buyers market in most of the city.

Raleigh – Total home sales declined 16% in fall of 2005 in homes for sale below the $400,000 price point, while homes above this amount saw an increase in availability of 18%. Total days on the market range from 30 – 120 days, depending upon location. Overall, there are fewer homes for sale, while prices continue to rise. Agents predict a trend toward a balanced market in the upcoming months.

Greensboro – Average home price for the area is $182,516, with homes spending approximately 70 days on the market. Economic conditions are improving in the area, which will also be a support for the home market. The community hosts a national golf tournament each year and annually over 60,000 buyers come to a furniture market; both events support this growing area. The downtown area has many restaurants, attractions, and cultural events.

Durham – Overall, the real estate market remains stable in this town. Average home prices for late fall, 2005, averaged $179,134, with a median price of all homes sold in 2004 of $149,900. Total number of homes sold increased slightly. Average days on the market were 83. Durham is a prosperous community, home to Duke University, many well-known corporations, and research facilities.

This area has received recognition in the past year, including being named the number two place for business/careers by Forbes Magazine, and Best Place to Live by MSN House & Home’s “America’s Best Places to Live.”

BUSINESS/ECONOMY

Principal industries include manufacturing, agriculture, tobacco, and tourism. Manufactured goods include textiles, rubber/plastics products, electrical/electronic equipment, chemicals, furniture, food products, and non-electrical machinery. Agricultural outputs include tobacco, soybeans, corn, cotton, peanuts, sweet potatoes, feed grains, vegetables, and fruits. Total gross state product for 2003 was $314 billion, with a per capita income for that year of $28,071.

SCHOOLS

As far back as 1898, the state set up the North Carolina Standard Course of Study, which provides in every content area a set of competencies for each grade. It ensures academic performance standards that are uniform across the state, and supports teaching and learning consistent with current research, practices, and national standards. In the K-12 public sector, student-teacher ratio for 1994 was 16:2, with an average teachers’ salary for 1995 of $30,564.

The first university in the United States was the University of North Carolina – Chapel Hill, which opened in 1795. Since then, the university system has been consolidated into campuses at Chapel Hill, Asheville, Charlotte, Greensboro, and Wilmington. Other institutions include North Carolina State University - Raleigh, Appalachian State University - Boone, East Carolina University - Greenville, Elizabeth City State University, Fayetteville State University, North Carolina Agricultural and Technical State University - Greensboro, North Carolina Central University - Durham, Pembroke State University, Western Carolina University at Cullowhee, and Winston-Salem State University and North Carolina School of the Arts, both at Winston-Salem.

Duke University at Durham is the state's largest private college.

HISTORY

The coastline of North Carolina was explored by Europeans as early as 1524; in the 1580s, Sir Walter Raleigh attempted an unsuccessful settlement on Roanoke Island. The first permanent settlements were made around 1653 near Albermarle Sound.

In 1712, North Carolina was made a separate colony, with Great Britain making it a royal colony in 1729. The region developed rapidly after this, with local Native American tribes being pushed westward to accommodate settlement.

With the outbreak of the American Revolution, royal authority ceased. After the war, North Carolina opposed a strong central government, refusing to ratify the constitution until November 1789, several months after the new government assumed operations.

When President Lincoln called for troops after the firing on Fort Sumter, North Carolina seceded and joined the Confederacy in May of 1861. After battles at Averasboro and Bentonville, Confederate General Johnston surrendered to Sherman.

Reconstruction developed a more modern North Carolina, developing industry while agriculture remained depressed due to faulty transportation and credit systems.

After World War I, the state took over the public school system, highway development, and county finances.

After World War II, industrialization boomed, with the value of manufactured goods surpassing that of agriculture, allowing North Carolina to become a leading industrial state in the Southeast. Air travel developed, along with high-technology companies and furniture industries.

RELIGION (2004)

  • Christian – 88%
    • Protestant – 77%
      • Baptist – 40%
      • Methodist – 10%
      • Presbyterian – 3%
      • Other Protestant or general Protestant – 24%
    • Roman Catholic – 10%
    • Other Christian – 1% (Eastern Orthodox, etc.)
  • Non-Religious – 11% (atheists, agnostics, etc.)
  • Other Religions – 1% (Judaism, Muslim, Hinduism, Buddhism, etc.)

DEMOGRAPHICS (2004)

  • White Non-Hispanic - 70.2%
  • Black - 21.9%
  • Hispanic of any race - 4.1%
  • Asian - 1.4%
  • Native American - 1.2%
  • Mixed race - 1.3%