What Is The Average Home Price In Charlotte NC?

Definition of "What is the average home price in Charlotte NC?"

Pretty much bordering with South Carolina, the city of Charlotte, NC has experienced a steady influx of new residents that come here from all over the country. Whether they want to get away from the hectic lifestyle of other major cities while still enjoy the benefits of living in a large city, or just came for the first time to live in a large city for work or education, Charlotte offers both parties the calmness and plethora of things to do that makes life so great in the South.

Real estate reality

The real estate market in Charlotte, North Carolina is in constant and continuous development. With a staggering population growth over the last decade and more, the real estate market in Charlotte, NC is enjoying a steady increase as well as stable appreciation rates for prices. The city’s location is undoubtedly helping the current growth but so is the economical health of the job market.

In regards to housing, there are currently 2,850 listings in Charlotte, NC according to Zillow and the numbers are changing every day as over the last 24 hours there have been 45 new additions. The numbers have grown from the previous year having a 2.2% increase in new listings in February compared to the same month in 2019, a 3.6% increase in the number of sold houses, and an 11.9% increase in the median house price.

The percentage of owner-occupied homes in Charlotte, NC is 53% and the primary type of housing all across Charlotte are single detached homes at a whopping 56% of all housing. The next most available type of housing are condominiums with 10-19 units at a shy 10%. This is the reason why Charlotte, NC is so spread out. Besides the Uptown area, most housing in neighborhoods are single detached family homes.

Real estate pricing

The median home value in Charlotte, NC is currently at $252,500 on Zillow. With a median listing price of $292,000 and the median price for sold homes at $261,900 prices are slightly negotiable for purchasers. What is clear in the real estate market of Charlotte is that the value of money is higher than in other parts of the country. For the same amount of money, you can hardly find a 5 bedroom single family home with an extensive yard and open floor plan in many other large cities. To make matters even better, the cost of living in Charlotte is relatively low and this makes for affordable living. If you’re looking at buying a home, the realtors in Charlotte, NC can navigate the market for you and find a perfect area for you and your family.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Questions

Popular Real Estate Glossary Terms

The meaning of a guarantee covers a legal and financially-binding agreement signed between three parties involved in real estate or financial transactions. In this document, typically ...

Tax-free exchange that allows a seller two years after escrow closes on his former principal personal residence to buy like-kind property and defer taxes. Profits from the sale of a ...

(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...

House designed and zoned for one-family use. Other dwellings may be attached to a single family dwelling, but do not share the same plumbing, heating, or electrical system. Single family ...

Word, or group of words, that identifies a business or one of its products. The name is registered with U.S. Patent Office and provides legal protection for an indefinite number of renewals ...

In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...

Privilege of a real estate investor or lender to participate in the profitability generated from property. This is in addition to any principal, interest, or dividends. ...

Market Analysis in the Real Estate Market is basically research done concerning specific properties in relation to the overall current climate of the real estate industry. A good ...

Giving of a promise or guarantee to the receiver to instill confidence. ...