Is the housing market worth looking into in the city of Greensboro, NC?

Greensboro, North Carolina, gained quite a reputation as a tourist-friendly destination over the years. However, an impressive boom in the number of the local population signals the dawn of a new era. Once a newcomer, now a ‘never-goer’. Why would they leave? Natural beauties and countless social events have the power to convince folks to stay.

Greensboro, a city hard to resist

We are sure that once you visit this great city, you will entertain the idea of moving here. In that case, our knowledgeable realtors in Greensboro NC, would be more than happy to be of your assistance in choosing a home to rent or purchase.

In this upcoming article, we will investigate the significant factors that ultimately influence the general opinion about the city and contribute to your moving here.

You will find the progressive city of Greensboro in Guilford County, North Carolina, spanning over 134 miles. As we mentioned earlier, it experienced a significant increase in its population. In 2010 it had only around 270,000 residents, and by 2021 it grew to approximately 301,100 souls. All this implies that there is an annual growth of 0.73%. By experiencing such prosperity, Greensboro has turned into the third-largest city in North Carolina. Only Charlotte and Raleigh steal its thunder.

Greensboro – a city with a reasonable cost of living

People in the city live in decent conditions. According to 2021 statistics, the average domestic income in Greensboro was around $71,500. The numbers are pretty impressive once you consider the positive numbers in housing affordability, a rule that applies to other areas too. As a matter of fact, Greensboro ranked the second most affordable city in North Carolina in 2018 and an absolute front-runner, once compared to the national average.

When looking into Greensboro grocery prices, health expenses, housing, median home expenditures, utilities, and transportation all beat the United States average costs.

Put plainly, people just love living here. Therefore, they form strong communities offering assistance to each other. Plus, they welcome newcomers with a big heart and smile!

Apply now on the booming Greensboro job market!

Since Greensboro, NC, is situated in the central area of the Piedmont Triad metropolitan region, and it is close to Raleigh, the capital city of North Carolina, business is booming. On the one hand, its economy focuses mainly on the traditional tobacco, textile, and furniture industries. On the other hand, modern-day companies have recently shown an increased interest to invest in this area, for example, aviation, nanotech, transportation, and logistics.

More remarkable is that prestigious companies also saw great potential in Greensboro, for instance, Volvo Trucks, Honda Aircraft Company, Kayser-Roth, The Fresh Market, and many others.

A talented workforce is also welcome to the professional and business, manufacturing, the education system, and the health service sector.

Explore the five best neighborhoods in Greensboro!

Have also in mind things to do in Greensboro, NC! If you already are or will become (pretty soon) fascinated with this city, here are some prominent areas in the city to start your house-hunting adventure. Let us present to you the top five Greensboro districts!

Fisher Park is a family-friendly area, supplied with plenty of outdoor activities. A huge advantage of living here is its vicinity to downtown.

Aycock/Dunleath Historic District. Formerly known as Aycock, the area is a historic neighborhood built in Queen Anne’s style. In a word, it’s ideal for history buffs. The area features marvelously crafted windows porches with spindles and brackets. Besides, you will not be able to stop marveling at the mind-boggling floral ornaments, broad porches next to aged but majestic trees.

Old Irving Park equals the traditional suburban area in Greensboro. It provides residents with a lovely rural environment, picturesque landscapes, and relaxing aesthetics. Old Irving Park still maintained its original purpose: a recreational center equipped with golf courses far from the maddening downtown fuss.

Summerfield is still considered a suburb of Greensboro. However, as of development, it more likely became a town of its own, or a bedroom community, if you like. As a result, Summerfield boasts flourishing public schools and budget-friendly housing options. In short, an ideal spot for families.

Downtown Greensboro underwent essential changes over the years. Architects strived to implement neo-traditional elements into the old historical setting of the city center. It showcases a top-notch system of transportation, compact blocks, and appealing natural landscapes. You will not have problems with walkability either since you can get by without a car quickly.

Greensboro provides an outstanding education

Let us be straightforward: five Colleges, the largest all-female institution in the country, the University of North Carolina at Chapel Hill, and State University. These are the most distinguished education centers the city can offer to North Carolinian students. They guarantee internationally acknowledged diplomas and a distinct reputation along with an excellent career for those who choose their courses.

We would most definitely highlight Guilford College of all since it is the oldest co educational college in the southern states of America. In addition, let us stress the historical importance of two black institutions, the North Carolina Agricultural and Technical State University and Bennett College.

Our city also hosts the third-largest public school in North Carolina managed by Guilford County Schools.

City crime stats, a minor disadvantage

Crime statistics should be improved. Greensboro reported a crime rate of 45 per 1,000 citizens. Consequently, it faces one of the highest crime rates in the United States when comparing it to all American areas inhabited.

Although Greensboro may not be entirely out of harm’s way for its residents, there are many safeguarded and friendly neighborhoods to choose from.

Real estate market values in Greensboro, NC

Home prices on the Greensboro housing market stand relatively still from 2018, with small-scale drops and rises. In the 117 neighborhoods, according to May 2021 statistics, there were around 1,040 houses available, in the price range from $3.5K to $2.2M. The number of listed houses grew to approximately 1,090 by June 2021, according to Rocket Homes. Therefore, there is a 4.4% rise in the number of private properties listed for sale.

If you are interested in just renting a home, the median rental cost was around $880 per month in the last couple of years.

Demand for available homes boosted in Greensboro, NC, during a very short period. A revealing fact is that in 2020 a home-seller had to wait around 104 days to sell their property here. However, the average listing days for selling a home decreased to approximately 44 days by 2021!

You can choose a budget-friendly townhome, condo, or even a 3-bedroom ‘extravaganza’. Now, let’s see the actual complex numbers based on May 2021 statistics. The median price per square foot was approximately $130, while the median sale price was around $222,000. In addition, the median list price of houses available was $220,000.

According to Redfin, the Greensboro housing market is highly competitive, and it goes beyond the national average. Usually, owners can sell their homes for about 2% above the list price. Moreover, trendy homes currently refurbished and equipped with the best amenities can now sell for about 6% above the listed price. And the waiting period is just about 13 days!

Conclusion: buying a house in Greensboro, NC, is a worthy investment!

If it’s time to make your move to Greensboro, NC, or any other part of this beautiful state, you’ll have a lot of options when it comes to properties.

We confirm that purchasing real estate in Greensboro is a bargain. In every department, such as the job market, education, cost of living, and the diversity of socio-cultural events, the city of Greensboro is graded with an A+! Larger cities like Charlotte and Raleigh still tend to be more popular, but in a couple of years, they will be overshadowed by Gate City.

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