Whether you’re buying or selling a home, paying attention to the state of the market is crucial. When to sell. When to buy. How to offer. How much to list. If you’re buying or selling in the Charlotte-metro region, it pays to look at the local numbers. Recently, the Charlotte Business Journal covered the zip codes in Charlotte where prices are rising and how they stack up to those same zip codes this time last year.
By the end of 2018, Charlotte was meeting or just barely exceeding the average rise in home prices for the nation. The average price for a home sold in the Charlotte Metro (which includes Mecklenburg as well as surrounding counties) had risen 6.4% over the course of the year. That brought the average to $286,796. The median home price also rose almost 6% to $238,000.
More specifically, homes strictly within Mecklenburg County rose even more. According to Charlotte Regional Realtor Association, prices for homes in Mecklenburg County grew at a higher rate. The average sales price was up 7.3% to $320,075. Median home price only rose 5% to $252,000.
Strictly by the Numbers
But what about the breakdown? We know prices are going up… but where? Here are the top-growing zip codes in the region.
The top 5 zip codes for growth are as follow:
28211: 15% uptick to $473,000 in 2018
28209: 18.3% uptick to $384,500 in 2018
28216: 19.5% uptick to $187,000 in 2018
28217: 21.4% uptick to $178,500 in 2018
28215: 23.2% uptick to $192,000 in 2018
Since 2019 is really only just getting started, there aren’t as many numbers to pull from. The stats are still there but aren’t at 2018 levels yet. For example, in January and February of 2019, the average sales price in Mecklenburg County rose just 3.7% to $307,162. The median price grew only 2.1% to $245,000.
Charlotte Business Journal has a slideshow showing all 29 zip codes in Charlotte with at least 100 homes sold (CRRA’s criteria for being able to assess growth). Check it out here!
If you live in one of these highly desirable areas and are interested in capitalizing on the market (to sell), or are ready to invest in an up-and-coming area, contact us today!