Real Estate

How Long Will Charlotte’s Booming Real Estate Market Last?

At first glance, it appears that Charlotte NC has a booming real estate market.  Home prices are up from a few years ago and houses are going under contract quickly.However, a closer look at the data suggests that the volume and pricing are on a downward trend, according to National Realtor data. 

Here’s a look at who’s searching for Charlotte real estate on Google, courtesy of Google trends.

It’s interesting to note the different states searching for “homes for sale” which is likely to be potential home owners compared to “real estate” which is more likely to be investors.

New York and Texas pop onto the Charlotte Real Estate map, while Florida and Georgia are on the homes for sale map. It’s no surprise that Californa and North Carolina are on both maps but Oregon was a surprise.

It’s fascinating to see the comparative data instead of just looking at the news headlines. There are, of course, many more statistics to look at for a full view of what’s going on with the Charlotte market now, including average days on market, median home price, etc. However, the realtor data above indicates that volume and pricing is softening, as any Charlotte NC company may be sensing the interest in home buying, as well as other home related spending decreasing.

Perhaps the slow down is related to uncertainty around the stock market, world political climate, and pending election.  Either way, it’s worth keeping an eye before making a big investment at top dollar.


Urban Sprawl Creates More Business Demand

One of the curses of being named the best city in the US to live is that of urban sprawl .

The exact reasons that people love a city can tend to be diluted and overtaken by a flood of new residents, all of whom require an infrastructure of public and private services.  Those new residents usually also contribute to the productivity of a region, change the demographic mix, and even possibly improve the area in some ways it was previously lacking.

It’s easy to see Charlotte’s rapid growth as the good news and the bad news.  

The good news is that the area is booming. There is more demand for housing everywhere. It seems high density apartment complexes are sprouting up at every street corner.  The light rail is almost complete and should relieve some of the strain on the aging road infrastructure of the area going from North Uptown to the University City area.

That means more workers are available and looking for jobs.  Top talent has many choices of employer with 100’s of corporate headquarters in the Charlotte metro area.  

The down side means less of the trees and natural areas are easy to enjoy as land is cleared for housing and commercial development.  It also means that more people may struggle to find employment, adding to the low income load on schools and other public services.  

As Charlotte grows, people turn to the internet more often to determine which businesses are trustworthy. To feature your business in Google, click here for SEO services.

No matter where you live, if you’re experiencing urban sprawl, do what you can to look on the bright side, enjoy the fresh new experiences and innovation that new people and bring to an area, and don’t lose track of what’s most important- the people in your life.