Are you considering Charlotte for your next move? This city often grabs attention with its Southern charm and urban zest.
Charlotte doesn’t only make news. It defines it. It certainly stands out with a real estate scene as vibrant as its skyline!
I’ve experienced Charlotte’s exciting real estate momentum firsthand. And I’m here to share all the insider details you want.
Are you thinking of making Charlotte your forever abode? Scouting for investment opportunities? Curious about the trends? Read on!
Hi, I’m Nancy Braun. I decided to trade the hustle of New York for the charm of North Carolina over two decades ago. The vibes and the warm welcome here just clicked!
According to NC Realtors, North Carolina is one of the top 5 destinations in the entire US. Whether for a vacation or a permanent move, North Carolina has so much to offer.
From the laid-back lifestyle to the genuine Southern hospitality! Everything here felt right. I discovered my passion and true calling in real estate in this charming setting.
Today, my team Showcase Realty and I use savvy digital strategies to help people buy and sell homes here in the Carolinas.
What’s the Overview of the Real Estate Market in Charlotte?
I’ve seen Charlotte’s transformation and growth over the years. The buzz in its real estate scene is real and evident!
But what is it really like?
1. Housing Market Spotlight (Growth in Listings)
First off, let’s zoom in on Charlotte’s housing scene.
Realtor.com reported the average listing price in Charlotte in July 2023 was $430,000. That’s a 1.2% increase from the previous year. Homes sell for around $241 per square foot. So, yes, it’s vibrant and on the move!
And here’s the cherry: Charlotte is top 1 of the 2023 hottest housing markets list!
Zillow says Charlotte is the best area to watch this year.
What’s the basis? It’s a mix of factors like:
- Anticipated growth in home values
- Recent market activities
- Projected changes in employment
- The pace of new home construction
- Homeownership stats
Here are the top 5 hottest housing markets of 2023:
1. Charlotte, NC (Yep, we’re number one!)
2. Cleveland, OH
3. Pittsburgh, PA
4. Dallas, TX
5. Nashville, TN
Exciting, right? Now is the time if you’re thinking about a move or investment here!
2. Median Home Price
Home prices have been on the move in Charlotte. The median home price was $425,000 in July 2023. That’s a 2.2% increase from last year! This is lower than many major U.S. cities but represents a significant increase from a decade ago.
Redfin added that the Charlotte housing market is getting competitive. About 1,240 homes stood sold in June this year. In July 2023, there were more eager buyers than available homes in Charlotte.
Also, on average, homes here sold for their listed price. This means you’ll get a good value for your investment. So now is an excellent time to move into Charlotte’s thriving market!
3. Monthly Housing Costs
Forbes reported that monthly housing costs have stabilized this year. This is particularly great if you’re eyeing Charlotte’s hot market!
This 2023 has a more relaxed setting for exploring your options, with no pressure of bidding wars. This is true even in a market as dynamic as Charlotte’s.
4. Rising Demand
More people see Charlotte as their next home destination. They like the city’s great living standards and vast career prospects.
Living in Charlotte costs about 2% less than the national average. Utilities here are 9% less expensive than the national average.
Getting around town? You’ll spend about 5% less on transportation than the nationwide average. Love shopping for food? You’ll save a bit. Groceries come in at 1% below the national average.
Charlotte caters to more than just one demographic. We see retirees crowding here since they like the city’s temperate climate. Young people are also excited about the many job opportunities.
Charlotte has seen a 2.86% increase in its population. Thanks in large part to job growth in the tech and finance sectors!
The Charlotte Business Journal says the city’s growing fast! We’ll see a 47% jump in people from 2010 to 2030 if Charlotte keeps growing like this.
As of the recent Census update, Charlotte’s population is around 897,720. Expand the view to the entire metro area, and that would be about 2.4 million residents.
Want to make Charlotte your home too? There’s no better time!
5. Rental Market
Here’s something if you’re caught in the “to buy or rent” dilemma. Like the steady upward trajectory of property prices, rents have increased.
Both property values and rent prices are on the upswing.
In August 2023, the average rent in Charlotte was $2,037. That’s $42 more than the previous year. Yet, the city’s average rent is still $63 below the national average.
WCNC Charlotte pointed out that rents are going up because more families are coming to live in Charlotte. Plus, with the city’s thriving job market, it’s no wonder why!
Where are the Best Investment Opportunities in Charlotte’s Housing Market?
Charlotte is on the rise! And so are the chances to invest in its housing market. Now’s a good time to see and consider what it offers!
Growth is the name of the game in Ballantyne. Development is booming here!
Ballantyne’s shift from a quiet edge-of-the-city area to a vibrant community is remarkable. And let’s not even get started on the amenities and parks. Top-notch! Unlock your dream home with zero down. read this free report! https://showcaserealty.net/buy-a-home-with-zero-down/
SouthPark’s popularity is soaring! It is increasingly becoming a residential favorite. It’s where city vibes meet suburban chill.
The allure of South Park is the blend of urban convenience with a touch of suburban peace. Live close to work, play, and dine!
3. Myers Park
Myers Park is the best of both worlds. It has an old-world charm with a fresh-energy vibe.
You get to stroll down the tree-canopied streets while the city’s buzz is just around the corner.
4. Lake Park
Morning coffee with lake views? Yes, please! New residential complexes here allow you to wake up to serene lake views. It’s like getting a slice of vacation every day.
Lake Park’s new homes are about that laid-back lifestyle. But with downtown Charlotte nearby!
5. Uptown Charlotte
Uptown Charlotte has sleek high-rises and contemporary homes. It’s the city life but with that unmistakable Charlotte flair.
The arts, culture, and dining scenes are just a stroll away. Think sleek. Think modern. Think Uptown. Living here means having the heartbeat of Charlotte at your doorstep!
Thinking about a new chapter here in Charlotte? Charlotte’s current real estate holds immense promise!
Contact me, Nancy Braun, at 704-870-0895. I can guide you toward becoming a property owner here in North Carolina!
We at Showcase Realty have the expertise and strategies to make real estate deals easier for you.
Here’s another article on mastering the home buying game in Charlotte you’ll find valuable!