This article is a special contribution for On the Move Charlotte by Sam Brannan of Trulia…
North Carolina’s real estate market is thriving after home prices hit rock bottom four years ago. If you’re considering a new location to settle down with high job wages and affordable home prices, Charlotte, North Carolina is worth considering. The city’s strong economy, beautiful neighborhoods, fun attractions, and good schools make Charlotte an ideal location to buy.
Recent market trends show that there are many affordable neighborhoods in Charlotte. For instance, Stonehaven and Cotswold are ideal for families looking for reputable school districts. Looking for a bargain? The start of the new year is the best time in to buy in Charlotte. The median sales price for homes is now just $174,000 down from $190,000 in December.
There are a growing number of job opportunities and startups in North Carolina. The household income median for Charlotte is now up to $46,975 with a job growth rate of 9.97 percent since 2012. In addition, the job market has vastly improved as the unemployment rate has decreased by 43.75 percent.
|Best Places to Own Since the Market Bottom 2012|
|#||US Metro||Owner Index||% of Job Growth||% of Change in Wages||% of Change in Unemployment||% of Change in Vacancy||% of Change in Housing Values|
|1||San Jose, CA||92.8||12.59%||11.64%||-45.73%||-35.58%||44.38%|
|2||San Francisco, CA||97.2||14.43%||20.26%||-46.97%||-20.70%||42.81%|
|5||Orange County, CA||82.2||7.77%||6.30%||-41.32%||-26.30%||28.19%|
|8||West Palm Beach, FL||80.8||10.47%||5.60%||-41.81%||-15.13%||34.67%|
If job opportunities weren’t enough, there’s also a lot to do in the Charlotte area for families. Discovery Place, one of the leading science centers in the country, is great place to geek out on engineering and technology! For the more outdoorsy folk, the UNCC Botanical Gardens and King’s Mountain are gorgeous places for sightseeing.
Charlotte isn’t the only city North Carolina that has seen a boost in its real estate market. Other North Carolina cities such as Raleigh and Greensboro also stand out as areas with great opportunities for owners since 2012. If you bought a home in Charlotte since the prices bottomed in 2012, the economy has given you a return on investment.
Thanks to Trulia for the great stats and information on Charlotte’s overall real estate market. Are you ready to buy or sell a home? Give us a call!