There has never been a better time to invest in Charlotte, NC real estate. This bustling southeastern metropolis has grown exponentially over the last few years due to an influx of small to midsized tech companies. According to the Bureau of Labor Statistics, the unemployment rate has dropped from 5.4 percent in March of 2015 to 5.1 percent in March of 2016. Both of these factors make Charlotte an attractive place not only for young professionals, but for families of any age.
As Charlotte’s job market grows, the local real estate market continues to improve. A recent study by Trulia showed that nationwide, homes are moving off the market faster than they were a year ago. In Charlotte, 65.2 percent of homes are still on the market after a month. This is significant considering 73.6 percent of homes were still on the market after a month in April of 2015. While the “Costly Coasts” are still very popular places to invest in real estate, the historically slower markets, particularly those in the “bargain belt” are finally heating up, and trade-up homes in both markets have seen the biggest decrease in inventory.
|Top 10 Housing Markets Where Homes Are Coming Off the Market Faster than A Year Ago|
|#||U.S. Metro||% of homes still for sale after one month April 2016||% of homes still for sale after one month April 2015||Percentage Point difference in share still for sale, 2016 vs 2015||Median Home Value, April 2016|
|1||Long Island, NY||76.9%||88.6%||-11.7 points||$409,500|
|2||Colorado Springs, CO||53.2%||62.0%||-8.8 points||$230,000|
|3||Charlotte, NC||65.2%||73.6%||-8.4 points||$166,125|
|4||Louisville, KY||59.5%||67.7%||-8.2 points||$134,900|
|5||Cincinnati, OH||63.1%||70.9%||-7.9 points||$138,500|
|6||Kansas City, MO||59.6%||66.3%||-6.7 points||$144,900|
|7||Chicago, IL||62.5%||69.1%||-6.5 points||$204,000|
|8||Atlanta, GA||65.3%||71.9%||-6.5 points||$169,000|
|9||Cleveland, OH||68.9%||75.4%||-6.5 points||$124,000|
|10||Raleigh, NC||69.6%||67.1%||-6.4 points||$219,900|
|Note: Among the 100 largest U.S. metros. The one month shares and the difference are rounded to the nearest percentage point, and the difference was calculated before rounding; therefore, the rounded difference might not equal the difference between the rounded shares.|
Interested in snagging a piece of desirable Charlotte real estate for yourself, but unsure where to start? There are Charlotte neighborhoods for every age group and budget. Young families will be happy in one of Dilworth’s adorable single family homes.
Young professionals can find a reasonably priced condo in Downtown Charlotte’s Fourth Ward Neighborhood, conveniently located near many businesses, restaurants and nightlife options. Looking for more space? South Charlotte’s many neighborhoods are perfect for large lots and sizable homes. Contact one of On the Move Charlotte’s knowledgeable agents to get started on your home search today!