Charlotte has ranked #1 for the last three years in the United States as the best place to live. This east coast city offers residents many amenities, including exceptional schools, great restaurants, arts and cultural events, and sports facilities. In addition, the area has a low cost of living and a strong economy.
With over 2 million people, Charlotte is the largest city in North Carolina and the third largest metropolitan area in the United States. Charlotte’s population growth rate is projected to increase from 688,500 in 2016 to 836,800 in 2026. This significant growth means the city will continue attracting new residents due to its excellent quality of life and economic opportunities.
Real estate investment continues to be lucrative, even though the current economy has dampened buyer confidence. If you want to invest in real estate in Charlotte, now is the time to start preparing.
Charlotte Homes for Sale
In the past 12 months, 7,764 single-family homes sold in the Charlotte area. Single-family price of homes decreased by 0.3% during this period, and there are currently 1,834 active listings with an average listing price of $259,974.
It pays to jump into the market early if you’re looking to buy or sell a house in Charlotte. An excellent real estate agent can make the difference between getting your dream property and missing out on one altogether.
The Charlotte MLS® Home Price Indexes are up 4.6% year-over-year and 5.4% month-to-month.
Charlotte Job Growth
According to the National Association of Realtors (NAR), the Charlotte metro area was nationally ranked #2 for housing affordability. The city also receives high marks for job creation potential.
In 2017, the Charlotte region added more than 30,000 jobs. This number is expected to grow by another 17,000 by 2022.
Additionally, Charlotte ranks #2 among the top 100 cities for business development. According to CBRE, the Charlotte market is growing faster than any other major U.S. city.
Rental Costs in Charlotte, NC
According to Apartment List, the median rental rate in Charlotte is $1,400 per month. However, there are some areas where the price of rental properties is much higher. For example, the average monthly rent for apartments in Ballantyne is $1,900.
It is no surprise that Apartment List also found the median rent in the suburbs is significantly lower compared to the city center. For instance, the median rent in Huntersville is $1,100, while the median rent in uptown Charlotte is $1,600.
Charlotte Neighborhoods
Currently, the most popular neighborhoods in Charlotte are:
Eastover
Located near the University of South Carolina and the airport, Eastover is known for its large selection of luxury apartment rentals.
Dilworth
This neighborhood is just north of downtown Charlotte. It features many historic buildings, including the Dilworth Building, which houses offices for Bank of America.
SouthPark
Home to the Charlotte Hornets NBA team, South Park is a popular location for young professionals. The neighborhood offers plenty of dining options, entertainment venues, and shopping centers.
Uptown
Home to the Arts Center, Uptown is a great place to live if you enjoy cultural activities.
University City
This upscale community is home to the University of North Carolina at Charlotte.
West End
West End is a popular destination for college students with a diverse mix of restaurants, bars, and shops.
Charlotte School Systems
Schools in Charlotte are rated as excellent by the state. The district is home to several schools that rank in the top 10 percent nationally.
Schools in Charlotte include:
- Central Davidson High School
- North Mecklenburg High School
- Northwood High School
- Southwest Guilford Middle School
- W.T. Harris Elementary School
- Western Alamance Middle School
- Western Piedmont Middle School
- Woodlawn Middle School
Housing Market Forecast for 2022
Experts project the Charlotte real estate market to continue firm through 2022. The Charlotte Regional Partnership expects the local economy to add 50,000 jobs by 2022.
As a result, demand for homes will remain steady. With this growth comes increased competition for available inventory. This competition can drive up home prices and limit financed home buyers when competing against all-cash offers. However, as the Fed keeps a close watch on inflation and rates, the housing market in Charlotte should remain steady throughout the rest of the year.
Selling Your House in Charlotte, NC?
If you’re looking to sell your house as fast as possible and for the most money, choose Virtuance for your real estate photography services. Virtual tours, aerial photos, and professional photography are excellent marketing materials and can help potential buyers imagine themselves in your beautiful home.
