The Queen City has continually been on the rise over the last few years. Whether you are a young professional, growing family, or retired couple, the Charlotte area has something for everyone, and there has never been a more exciting time to explore the area. Maybe you are interested in attending cultural events, visiting local breweries, or shopping at some of the finest stores. Whatever peaks your interest, Charlotte has it all.
With so many attractions, events, and business opportunities coming to Charlotte, it is no surprise that the people are flocking here as well. And the booming real estate market is proof that Charlotte is one of the hottest place in the south to be. The Charlotte real estate market is thriving in a variety of ways.
The Growth of Apartment Communities
Did you know that dozens of individuals are moving to Charlotte each day? To keep up with the demand for the area, local real estate developers, have been working diligently to bring new and updated apartment spaces to the city. In fact, just along the new Blue Line extension route, there are over 5,000 apartments under construction. There are also two mid-rise apartment buildings coming to the Stonewall Street area, bringing another 700 upscale apartments to the Queen City. The people keep coming, and construction continues to keep up with the high demand for renting in Charlotte.
A Competitive Real Estate Market
If you are interested in buying a property in the Charlotte area, the hunt will prove to be a little more challenging right now. The real estate market in and around the Queen City is very competitive. With low inventory, high prices, and lots of potential buyers looking to move to the area, you will have to be focused and fast in order to secure a home.
According to real estate statistics, there were roughly 9,500 houses on the market in Charlotte during June 2018. The most startling detail behind that number is that more than twice that amount of homes were available in 2012. Houses are selling fast and for more money, making it harder for prospective buyers to make their dreams a reality.
The Charlotte Area is Flourishing
Overall, the real estate market in Charlotte is booming, and that is a positive thing for everyone. This increased popularity means that businesses and attractions will continue coming to the area, giving residents access more access to employment opportunities and fun things to do.
While it may be challenging to find your next home in Charlotte, we promise it will be worth the wait. The Queen City has so much to offer!