Housing

Housing

Housing – Key Factor Summary

• Broad selection of housing styles and environments on the market at any given time
• Multiple listing service covering entire county
• Cost of housing below state and national average
• Average cost of housing sold in Greenville area in 2009 was $147,140
• Average price of residential lot is roughly $48,000
• Plentiful supply of speculative homes on market from $100,000 to over $1 million
• Majority of newer subdivisions have wide streets, underground utilities, and community water
• Moderate availability of single-family homes for rent
• Several condominium and townhouse complexes from which to choose ($45,000 to over $160,000)
• Over 150 apartment complexes with one, two, and three bedroom units at reasonable rents
• Many condominium and apartment complexes offer availability of pool and clubhouse
• Nursing and rest homes are available as well as assisted living centers
• Variety of retirement villages in and around Greenville area

A wide variety of housing is available in Pitt County. Once the decision has been made where to live, townhouse, condo, or private residence, urban neighborhood, small town, or country estate, the newcomer will be pleased at the broad selection and moderate prices. The Greenville/Pitt County area is rated one of the fifty most livable communities in the United States because it offers the combination of pleasant living conditions and proven low cost of living. This is particularly true in housing. The average price of housing sold during 2009 was $147,140, based on the sale of 1,697 single family homes, condos, townhouses, and mobile homes through the Multiple Listing Service. The average price of 1,168 single family homes sold was $171,952.

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Single Family Housing

There is a wide variety of single family homes available in Greenville/Pitt County and over the last few years, there has been over 1000 residential properties on the market at any one time. Homes are available in all price brackets. Types of architecture range from ranch to contemporary, Cape Cod, Williamsburg and traditional.

Many new homes are under construction in Pitt County. Individual prices of new construction generally range from the $150,000 to over $400,000. New homes may also be custom built and there is a good representation of contractors who can provide quality construction.

There are over 400 listings of lots and acreage in MLS. Prices vary considerably depending upon the size of the lot, whether it’s wooded or cleared, and its location. An average price range for residential lots is $35 – 55,000. Individual builders usually have lots available in different area subdivisions.

While single family homes may be rented, the availability of homes to suit individual requirements is limited. A three bedroom home can rent from $600 to $1,800 per month depending upon location and amenities. A year’s lease and a one month’s deposit are generally required. There are a number of real estate agencies in the area which provide rental services.

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Townhouses/Condominiums

At the present time there are a great number of townhouse/condominium units within Pitt County. Prices vary from the mid-forties to units of $160,000 that are custom built to the individual buyers requirements. A wide variety of financing is available including shared equity, conventional, FHA and VA.

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Apartments/Duplexes

There are over 150 apartment developments in the Greenville area ranging from four units to four hundred units. The large developments may have a pool and clubhouse. One, two, and three bedroom units are available. Most units are two story;some units have fireplaces and dens. Prices average from around $300 to $725 for one bedroom units, $400 to $825 for two bedrooms, and $775 to $950 for three bedroom units.

In recent years, there has been a boom in the construction of suite-style apartments that are designed for college students. These developments typically have two to four private bedrooms and baths with a shared kitchen and living area in each suite. Amenities usually include a clubhouse/fitness center, pool, computer/study labs, and shuttle service to campus. Rates for these units range anywhere from $305 to $745 depending upon the number of bedrooms and amenities provided.

Duplexes are available through various rental services provided by real estate agencies. These vary in price and range from $400 to $1200. Condos and townhouses are also available in one to three bedroom units with prices ranging from $400 to $1000 per month.

For rentals of apartments, duplexes, and townhomes, a year’s lease and a month’s deposit is typically required. In units where pets are acceptable, a pet deposit is also required.

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Average Price of Housing Sold

1980	$53,600		1995	96,909
1981	57,300		1996	100,304
1982	59,600		1997	99,723
1983	58,500		1998	111,766
1984	59,000		1999	103,728
1985	61,800		2000	113,227
1986	65,400		2001	121,286
1987	67,500		2002	125,024
1988	70,004		2003	128,495
1989	76,507		2004	131,917
1990	79,596		2005	138,466
1991	81,296		2006	148,742
1992	87,638		2007	153,822
1993	89,322		2008	155,088
1994	90,013		2009	147,140

Source: Greenville-Pitt Association of Realtors MLS figures.

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