What are the Charlotte real estate market predictions for 2021 & 2022? Charlotte is a minimally walkable city in Mecklenburg County with a population of approximately 727,822 people. Charlotte was ranked fourth-hottest U.S. housing market in 2018 as prices and rent kept going up. It 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.
Charlotte has a mixture of owner-occupied (53.09%) and renter-occupied (46.91% ) housing units. According to Neighborhoodscout.com, a real estate data provider, three and four-bedroom single-family detached are the most common housing units in Charlotte. Other types of housing that are prevalent in Charlotte include large apartment complexes, duplexes, rowhouses, and homes converted to apartments.
Charlotte has a record of being one of the best long-term real estate investments in the U.S. High demand and low inventory in the Charlotte housing market led to a significant price rise in 2019. Let us look at the price trends recorded by Zillow over the past few years. Since 2012, the median home prices in the city of Charlotte have appreciated by nearly 91% (Zillow Home Value Index).
Charlotte home values have gone up 11.9% over the past year and the current median home value is $287,022. Charlotte is currently a seller’s real estate market. The demand is exceeding the supply, giving sellers an advantage over buyers in price negotiations. In other words, there are fewer homes for sale than there are buyers in the marketplace.
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