Pretty much bordering with South Carolina, the city of Charlotte, NC has experienced a steady influx of new residents that come here from all over the country. Whether they want to get away from the hectic lifestyle of other major cities while still enjoy the benefits of living in a large city, or just came for the first time to live in a large city for work or education, Charlotte offers both parties the calmness and plethora of things to do that makes life so great in the South.
The real estate market in Charlotte, North Carolina is in constant and continuous development. With a staggering population growth over the last decade and more, the real estate market in Charlotte, NC is enjoying a steady increase as well as stable appreciation rates for prices. The city’s location is undoubtedly helping the current growth but so is the economical health of the job market.
In regards to housing, there are currently 2,850 listings in Charlotte, NC according to Zillow and the numbers are changing every day as over the last 24 hours there have been 45 new additions. The numbers have grown from the previous year having a 2.2% increase in new listings in February compared to the same month in 2019, a 3.6% increase in the number of sold houses, and an 11.9% increase in the median house price.
The percentage of owner-occupied homes in Charlotte, NC is 53% and the primary type of housing all across Charlotte are single detached homes at a whopping 56% of all housing. The next most available type of housing are condominiums with 10-19 units at a shy 10%. This is the reason why Charlotte, NC is so spread out. Besides the Uptown area, most housing in neighborhoods are single detached family homes.
The median home value in Charlotte, NC is currently at $252,500 on Zillow. With a median listing price of $292,000 and the median price for sold homes at $261,900 prices are slightly negotiable for purchasers. What is clear in the real estate market of Charlotte is that the value of money is higher than in other parts of the country. For the same amount of money, you can hardly find a 5 bedroom single family home with an extensive yard and open floor plan in many other large cities. To make matters even better, the cost of living in Charlotte is relatively low and this makes for affordable living. If you’re looking at buying a home, the realtors in Charlotte, NC can navigate the market for you and find a perfect area for you and your family.