Fayetteville housing market remains strong

May 16, 2009 10:00:09 AM PDT
Despite the weak economy and banking industry woes, Fayetteville's housing market is strong. A national Website that evaluates the housing industry recently ranked Fayetteville's housing market number one in the country.

While many US cities are experiencing a housing bust, Fayetteville's market has been ranked as one of the best in the country.

Malcolm McFayden has been selling homes in Fayetteville for years, and he's not surprised the market is doing well.

"The biggest reason would be Fort Bragg," said McFayden, real estate agent. " We've got a market that doesn't have ups and downs. We have a pretty steady continual growth where we don't have those highs and lows."

Homes that sell for less than $250,000 are the sweet spot in the market. Those homes usually sell in less than six months. McFayden said in the real estate business, that's considered a healthy market.

"The average home price in town is about $120,000 for the whole market," McFayden explained. "But you've got homes that range anywhere from $75,000 all the way up to a million or more."

Fayetteville is probably one of the best kept housing market secrets in the state. There's a wide variety of houses and you can get a pretty big bang for your buck.

"You talk about the same number of square feet in Fayetteville compared to Raleigh," McFayden said. "You're talking about a 20 percent price change as far as how much the house sells for in Raleigh or Charlotte even."

The recent tax revaluation raised the value of many Fayetteville homes -- some as much as 25 percent. McFayden said that shows the strength of the city's military community.

It's something home owners will appreciate when it's time to sell their homes.


Load Comments