Knowing the latest in real estate trends in the Charlotte-area helps buyers and sellers when it comes to navigating the market. qnotes reached out to a few of them to get their take on the local scene.
2017 E. 7th St., Charlotte, NC 28204
Charlotte’s housing market is vibrant and holding steady. Home prices will indeed continue to rise. However, those increases will not be as robust as in years past. This should give a bit of relief to potential buyers who have seen home prices soar over the past few years. This should also give potential sellers who are gauging the market a slight nudge.
That being said the housing market will continue to be tight and a bit more favorable for sellers. Whether you’re a buyer or seller, this year could be the right time for you.
Throughout the city there are signs of new building projects, renovations and urban renewal. For the classic home buyers areas like South Park, Ballantyne and Steel Creek would be ideal. For the urban dwellers looking to buy a home check out Plaza Midwood, NoDa or South End. Home buyers who are seeking up-and-coming areas should explore MORA, Oakhurst, FreeMore West and Charlotte’s Belmont neighborhoods.
The winter rains are gone, spring is here, and the real estate market is in bloom.
• • •
Matt Stone Real Estate
1200 E. Morehead St., Suite 270, Charlotte, NC 28204
Trends currently show that it is turning from a sellers market to a buyers market, with interest rates having decreased resulting in a high activity. Additionally, rental rates are high and rising.
People are renovating their existing homes, and smaller homes with high level finishes are also in demand.
Add to these trends that people are looking for walkability when selecting their new home.
• • •
Keller Williams Realty Ballantyne Area
3430 Toringdon Wy., Suite 200, Charlotte, NC 28277
704-519-9733 (C), 704-887-6600 (O)
The Charlotte real estate market continues to thrive. The city continues to grow at a very steady pace, and the demand for housing has increased significantly. Pricing for homes in the area continue to rise, but not quite at the pace we saw in 2018. We continue to have a healthy seller’s market as inventory for homes remains very low and the demand is high. However, this “tight market” makes it very difficult for new residents to find housing quick enough. With numerous buyers seeking similar housing, many homes have multiple offers within hours of the property hitting Multiple Listing Service MLS.
Affordability of homes in the Charlotte market is top of mind for most buyers. Rising interest rates have also affected the ability for many to purchase homes. A simple percentage point on a loan can price someone completely out of the home of their dreams.
We recently saw property values jump as much as 40 percent in some neighborhoods with the latest revaluation. The average list price for homes closed in Mecklenburg County during the first three months of 2019 was $353,888 with average days on market under 30 days. This has forced many to seek housing outside of Mecklenburg County. Gaston, Cabarrus and Union counties have seen huge growth in both resale and new home communities. The average home price in these counties combined is approaching $289,000.
A lot is happening in real estate. It is very exciting to see Charlotte continue to grow and thrive.