Charlotte Housing Market
The Charlotte Housing Market has been one of the hottest in the nation for many years now and will likely continue to be based on many reasons, from the lower cost of living to professional sports, being a large banking city, nice food scene, proximity to the beautiful NC mountains as well as many beaches, etc. Viewing the live graphs below lets you get a good feel for how the Charlotte housing market is doing. We'll start with a graph showing the average sales price in the entire Charlotte region. From there, I'll show you some graphs showing 4 of the most popular areas within the region and how they compare to the Charlotte housing market.
(*please note that if on a smartphone, these Charlotte housing statistics will display better if viewed horizontally)
Average Sales Price of Homes for Sale in the Charlotte, NC region
Now, let's look at 4 of the most popular towns/zip codes in the Charlotte Region. These are Huntersville (directly north of Charlotte in the Lake Norman region), Zip Code 28277 (the "Ballantyne" area of South Charlotte), Waxhaw (the largest town in the very popular Union County, which is just below Ballantyne), and Fort Mill, SC just across the state line and known for having a great school system (just southwest/west of Ballantyne and Union County). There are other great areas in the Charlotte region, but considering their popularity, I wanted to focus on them. You'll notice three years' worth of data in each graph.
Average Sales Price of 4 Popular Charlotte Suburbs
This graph represents the average sales price of homes in these four popular Charlotte area suburbs and the direction they've gone over the last three years.
Average Price Per Square Foot
These averages are based on the average price per square foot of heated and cooled square footage (does not include unfinished basements, garages, etc., just heated and cooled living area)
# of Homes for Sale
The total number of homes for sale. When the supply of the product (homes for sale in this case) is lower, you'll typically see higher demand which often leads to higher prices (or strong prices even in a challenging environment).
Percentage of Original List Price to Sales Price
This refers to how much the Sales Price was compared to the Original List Price. It's interesting to see how the market was 'normal', got hot, and started cooling off a bit.
Average Showings Per Listing
This graph shows the average number of showings a home in each of these areas had before the house was sold.
Average Days on Market
Here you'll notice how many days the average home stayed on the market before going under contract.
Months' Worth of Supply
Months worth of supply refers to how long it would take for the existing buyers to snatch up the current inventory if not a single additional listing came on the market. Six months' supply is considered an equal buyer and seller's market. Anything less than six months is considered to be a seller's market. Clearly, we've been in a seller's market in the Charlotte, NC, area for quite some time.
The Charlotte housing market has been a great one for homeowners for several years now, and it's hard to see that trend changing anytime soon. Leveling off, sure, but reversing or crashing seems a bit hard for me to fathom. We will see, but home ownership has always been a wonderful investment opportunity.
While I mentioned four popular suburbs here, there are many more I could mentioned, such as:
- Cornelius (just north of Huntersville in the Lake Norman area),
- Davidson (main street USA)
- Mooresville (Nascar capital of the world)
- Denver (on the up-and-coming west side of Lake Norman)
- Concord, Kannapolis, and Harrisburg (in Cabarrus County just east of Charlotte)
- Mint Hill, Matthews, and Indian Trail (on the southeast side of Charlotte and growing)
- Marvin, Wesley Chapel, and Weddington (in the booming Union County next to Waxhaw)
- Indian Land, SC, and Lancaster, SC, just below the Ballantyne area south of Charlotte, into SC
- Lake Wylie, Clover, Tega Cay (on the SC side, known for lower taxes and good schools)
- Belmont (in Gaston County just west of Charlotte and with one of the best small-town feels you'll find)
The Charlotte housing market has many great choices. Reach out to us, and let's talk about you and your plans and help you get some direction. We are always here to help you, not pressure you.
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