Charlotte & Lake Norman Real Estate Market Trends For 2022
Nicole Leininger February 22, 2022
Nicole Leininger February 22, 2022
The Charlotte real estate market ranks as one of the hottest markets in the entire U.S. Both the Charlotte real estate market and the surrounding markets like the Lake Norman real estate market have seen exponential growth over the past few years. It’s not hard to see why when you consider the diverse economy and the high quality of life.
This article will run you through the reasons why the Charlotte real estate market and the Lake Norman real estate market are the perfect investment opportunity for the full range of real estate buyers. This includes those looking to buy and flip properties, those looking to buy, hold, and rent out properties, and those who just want a place of their own to call home.
Besides the lack of inventory, which the majority of the real estate markets within the US are experiencing, there are other factors that are driving the competitiveness of the Charlotte real estate market and the Lake Norman real estate market. These factors include high population growth, a healthy job market, and the general affordability of both the Charlotte real estate market and the Lake Norman real estate market.
In 2021, the median sale price of the Charlotte real estate market rose to just over $325,000. This was a 16% increase from 2020, but the growth goes even further. The list to sale ratio rose to 101%, meaning that the average home sold for over list price, and the average property sat on the market for just 16 days.
The lack of inventory is the main real estate market trend that is driving these highly competitive numbers. While the national real estate inventory was down 27% in 2021, the North Carolina real estate market came in above that average at 32%.
Home prices in Charlotte are projected to rise by 5.6% in 2022, and sales volume is forecasted to grow by 9.9%. Even stronger is Charlotte’s real estate appreciation rate, which hovered right around 3% in Q4 2021, translating into an annual appreciation rate of 12%.
These real estate market trends make the Charlotte real estate market and the Lake Norman real estate market very hot markets for both house flippers and real estate investors. This includes both investment properties and those more ideal to buy and hold.
These strong growth numbers seem to indicate that 2022 will be yet another strong year for housing. While both home prices and interest rates are expected to increase, meaning spring of 2022 will be less frantic than spring of 2021, the Charlotte real estate market and the Lake Norman real estate market are still very much a sellers market. Yet, they are still highly beneficial markets for buyers to invest in as the high appreciation rates make these markets prime opportunities to grow equity.
The limited inventory in the Charlotte real estate market and the Lake Norman real estate market have created the perfect seller’s market. At its core, real estate is a supply and demand industry and right now there is very limited inventory and an extremely high demand for Charlotte real estate. If your home is priced well and shown correctly, you will receive multiple offers in a very short period. Many of these offers will come from accommodating buyers who are willing to provide appraisal waives or appraisal addendums. This means that they will pay the contract price, even if your home appraises for less.
Whether you are looking to buy or sell real estate in the greater Charlotte or Lake Norman areas, Nicole Leininger is the perfect real estate agent to help you navigate these real estate market trends and these exceptional markets. Contact Nicole today to start your search for home.
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