January 10, 2019
When someone considers investing in real estate, attention tends to drift to the hot markets like San Francisco or the places those residents are fleeing to due to the high cost of real estate. In other cases, investors focus on the “cool” places people want to be and assume that will yield a good return on the investment. We’ve taken the time to look for the better long term opportunities, and that brought us to the Charlotte real estate market. Charlotte is the largest city in North Carolina. The city proper is home to more than 800,000 people. The Charlotte metropolitan area is even larger – home to roughly two and a half million people. It is one of the country’s fastest growing metro areas, and it was the second fastest growing city in the southeastern United States. Only Jacksonville, Florida was growing faster between 2004 and 2014. The Charlotte housing market is a hot market for investors whether they want to renovate and flip, buy to hold and rent or invest in multi-family properties.
Zillow, in a new report, named Charlotte the fourth-hottest U.S. housing market in 2018 as prices and rent keep going up. Charlotte was ranked in the top 10 in another forecast for 2018, coming in at No. 7 in a Realtor.com prediction. Like many fast-growing cities, the housing market in Charlotte has been defined by tight inventory, rising prices and climbing rent. As per Zillow.com’s data, the median home value in Charlotte is $212,100. Charlotte home values have gone up 8.9% over the past year and Zillow predicts they will rise 6.5% within the next year. The median list price per square foot in Charlotte is $144, which is higher than the Charlotte-Concord-Gastonia Metro average of $129. The median price of homes currently listed in Charlotte is $285,000. The median rent price in Charlotte is $1,445, which is lower than the Charlotte-Concord-Gastonia Metro median of $1,450.