24/7 Wall St. Insights
- Rising demand and limited supply have driven U.S. home prices up by nearly 4% so far in 2024.
- In many popular coastal areas, price increases have far exceeded the national average.
- In North Carolina, however, not all oceanfront housing markets align with the broader trend.
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The United States has nearly 12,400 miles of coastline, more than all but seven other countries globally. Many coastal communities along the Atlantic and Pacific Oceans, as well as the Gulf of Mexico, are among the most popular places to live in the country.
Across the 50 states, there are more than 3,200 counties and county equivalents — and though fewer than 8% of them are located along an ocean, these coastal areas are home to nearly 30% of the U.S. population. Between 1970 and 2020, the population of coastal counties climbed by more than 40 million, according to the National Oceanic and Atmospheric Administration
While demand for real estate on or near an ocean has climbed in recent decades, available waterfront acreage is inherently limited. With rising demand and fixed supply, many coastal communities are reporting skyrocketing home prices — a reflection of the nationwide housing shortage and ongoing affordability crisis.
Though home prices have fallen slightly in recent months, the housing market is still generally more expensive today than it was at the beginning of the year. According to data from Realtor.com, the typical American home was listed for $425,000 in September 2024, a $15,500, or 3.8%, increase from the median list price in January 2024.
In North Carolina, one of 23 U.S. states located along an ocean, home prices have climbed even faster than average. Among the 52,294 homes statewide that were on the market in September 2024, the median list price was $413,275, about 4.6% higher than in January. Notably, however, not all housing markets in coastal North Carolina have followed this trend.
Of the 100 counties in North Carolina with available housing market data, 18 border the Atlantic Ocean or an estuary. In some of these places, home prices have climbed by more than 15% in 2024. In other coastal counties, price increases have been far more modest — and in seven, a typical home is cheaper now than it was at the beginning of the year. (Here is a look at the most affordable housing market in each state.)
It is important to note that median list prices vary between $174,125 to $725,000 in these counties as of September 2024, the most recent month of available data. And while some of these housing markets may be only modestly more expensive, or even cheaper, than they were at the beginning of the year, they are not necessarily affordable areas for a broad range of budgets. (Here is a look at the cities where most homes cost less than $125,000.)
These are the coastal counties in North Carolina where home prices have climbed or fallen the most in 2024. All 18 oceanfront counties in the state, with available data from Realtor.com, are ranked on the percent change in median list price from January to September 2024.
Why It Matters
In recent years, limited supply and rising demand have fueled a surge in home prices. This year alone, the list price of a typical American home has climbed by about 3.8%. In many popular coastal areas, the same supply and demand dynamics that led to the ongoing housing affordability crisis have been even more pronounced. In North Carolina, however, not all oceanfront housing markets have gotten more expensive in 2024.
18. Bertie County
- Change in median home list price in 2024: +19.9% (+$36,275)
- Median home list price in January 2024: $182,450 ($212,500 less than statewide median)
- Median home list price in September 2024: $218,725 ($194,550 less than statewide median)
- Median size of a listed home in September 2024: 1,672 square feet (278 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 34 (0.1% of all listed homes in North Carolina)
- Population: 17,818
17. Tyrrell County
- Change in median home list price in 2024: +19.7% (+$55,475)
- Median home list price in January 2024: $281,250 ($113,700 less than statewide median)
- Median home list price in September 2024: $336,725 ($76,550 less than statewide median)
- Median size of a listed home in September 2024: 1,436 square feet (514 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 14 (0.0% of all listed homes in North Carolina)
- Population: 3,389
16. Pender County
- Change in median home list price in 2024: +15.2% (+$75,775)
- Median home list price in January 2024: $499,225 ($104,275 more than statewide median)
- Median home list price in September 2024: $575,000 ($161,725 more than statewide median)
- Median size of a listed home in September 2024: 2,347 square feet (397 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 483 (0.9% of all listed homes in North Carolina)
- Population: 61,592
15. Chowan County
- Change in median home list price in 2024: +13.5% (+$41,875)
- Median home list price in January 2024: $310,750 ($84,200 less than statewide median)
- Median home list price in September 2024: $352,625 ($60,650 less than statewide median)
- Median size of a listed home in September 2024: 1,666 square feet (284 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 86 (0.2% of all listed homes in North Carolina)
- Population: 13,835
14. Pasquotank County
- Change in median home list price in 2024: +12.3% (+$39,625)
- Median home list price in January 2024: $321,000 ($73,950 less than statewide median)
- Median home list price in September 2024: $360,625 ($52,650 less than statewide median)
- Median size of a listed home in September 2024: 2,005 square feet (55 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 201 (0.4% of all listed homes in North Carolina)
- Population: 40,454
13. Perquimans County
- Change in median home list price in 2024: +12.3% (+$55,725)
- Median home list price in January 2024: $451,500 ($56,550 more than statewide median)
- Median home list price in September 2024: $507,225 ($93,950 more than statewide median)
- Median size of a listed home in September 2024: 2,671 square feet (721 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 75 (0.1% of all listed homes in North Carolina)
- Population: 13,053
12. Camden County
- Change in median home list price in 2024: +5.1% (+$20,847)
- Median home list price in January 2024: $409,900 ($14,950 more than statewide median)
- Median home list price in September 2024: $430,747 ($17,472 more than statewide median)
- Median size of a listed home in September 2024: 1,970 square feet (20 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 81 (0.2% of all listed homes in North Carolina)
- Population: 10,547
11. Onslow County
- Change in median home list price in 2024: +3.3% (+$10,550)
- Median home list price in January 2024: $324,450 ($70,500 less than statewide median)
- Median home list price in September 2024: $335,000 ($78,275 less than statewide median)
- Median size of a listed home in September 2024: 1,795 square feet (155 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 1,576 (3.0% of all listed homes in North Carolina)
- Population: 203,686
10. Dare County
- Change in median home list price in 2024: +2.1% (+$15,250)
- Median home list price in January 2024: $709,750 ($314,800 more than statewide median)
- Median home list price in September 2024: $725,000 ($311,725 more than statewide median)
- Median size of a listed home in September 2024: 1,959 square feet (9 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 642 (1.2% of all listed homes in North Carolina)
- Population: 37,160
9. New Hanover County
- Change in median home list price in 2024: +0.3% (+$1,527)
- Median home list price in January 2024: $532,473 ($137,523 more than statewide median)
- Median home list price in September 2024: $534,000 ($120,725 more than statewide median)
- Median size of a listed home in September 2024: 1,857 square feet (93 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 1,481 (2.8% of all listed homes in North Carolina)
- Population: 228,134
8. Carteret County
- Change in median home list price in 2024: +0.1% (+$350)
- Median home list price in January 2024: $598,650 ($203,700 more than statewide median)
- Median home list price in September 2024: $599,000 ($185,725 more than statewide median)
- Median size of a listed home in September 2024: 1,829 square feet (121 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 714 (1.4% of all listed homes in North Carolina)
- Population: 68,353
7. Beaufort County
- Change in median home list price in 2024: -0.1% (-$375)
- Median home list price in January 2024: $381,000 ($13,950 less than statewide median)
- Median home list price in September 2024: $380,625 ($32,650 less than statewide median)
- Median size of a listed home in September 2024: 1,857 square feet (93 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 183 (0.3% of all listed homes in North Carolina)
- Population: 44,711
6. Pamlico County
- Change in median home list price in 2024: -0.7% (-$3,025)
- Median home list price in January 2024: $462,975 ($68,025 more than statewide median)
- Median home list price in September 2024: $459,950 ($46,675 more than statewide median)
- Median size of a listed home in September 2024: 1,848 square feet (102 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 97 (0.2% of all listed homes in North Carolina)
- Population: 12,317
5. Currituck County
- Change in median home list price in 2024: -2.3% (-$14,525)
- Median home list price in January 2024: $637,975 ($243,025 more than statewide median)
- Median home list price in September 2024: $623,450 ($210,175 more than statewide median)
- Median size of a listed home in September 2024: 2,343 square feet (393 sq. ft. larger than statewide median)
- Number of homes for sale in September 2024: 393 (0.8% of all listed homes in North Carolina)
- Population: 28,616
4. Brunswick County
- Change in median home list price in 2024: -2.6% (-$11,025)
- Median home list price in January 2024: $430,925 ($35,975 more than statewide median)
- Median home list price in September 2024: $419,900 ($6,625 more than statewide median)
- Median size of a listed home in September 2024: 1,800 square feet (150 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 2,681 (5.1% of all listed homes in North Carolina)
- Population: 139,721
3. Washington County
- Change in median home list price in 2024: -3.4% (-$6,075)
- Median home list price in January 2024: $180,200 ($214,750 less than statewide median)
- Median home list price in September 2024: $174,125 ($239,150 less than statewide median)
- Median size of a listed home in September 2024: 1,565 square feet (385 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 39 (0.1% of all listed homes in North Carolina)
- Population: 11,051
2. Craven County
- Change in median home list price in 2024: -4.6% (-$16,467)
- Median home list price in January 2024: $354,900 ($40,050 less than statewide median)
- Median home list price in September 2024: $338,433 ($74,842 less than statewide median)
- Median size of a listed home in September 2024: 1,886 square feet (64 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 608 (1.2% of all listed homes in North Carolina)
- Population: 101,098
1. Hyde County
- Change in median home list price in 2024: -23.6% (-$125,750)
- Median home list price in January 2024: $532,500 ($137,550 more than statewide median)
- Median home list price in September 2024: $406,750 ($6,525 less than statewide median)
- Median size of a listed home in September 2024: 1,198 square feet (752 sq. ft. smaller than statewide median)
- Number of homes for sale in September 2024: 48 (0.1% of all listed homes in North Carolina)
- Population: 4,636
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