All you hear about these days is the real estate crisis which has hit the nation. So many areas are devastated because of the amount of foreclosures. Lenders are going out of business faster than you can blink. The average home values are falling. Sales prices are declining. It has become almost impossible to finance any type of real estate. This is not true in Charlotte, North Carolina.
Charlotte real estate is seeing almost a 6 ½ % increase in home values each year. This has been a slow and steady increase. It does not look like it is going to change any time soon. This steady increase, instead of a fast market growth has allowed the Charlotte real estate market to grow quietly and steadily for many years.
With over 1 million people living in this city now, and 80,000 new residents each year, the housing market is growing. The average age for the new comers is the 25 to 34 range. This is the perfect group of people for business. Charlotte has business. They are the second largest city, next to New York for banking.
While the average home cost in America has fallen to roughly $187,000, the average home in Charlotte is on the rise. It is now estimated at around $225,000. So what will a quarter of a million dollars buy you in Charlotte? room. Many of the homes available have over 5,000 square feet. Just to let you know, the homes are appreciating at almost twice the national average. This means Charlotte real estate is the perfect investment for anyone.
In January of 2008 homes in the Charlotte real estate market sold in an average of 78 days. This is a very short time frame. The time frame seems even shorter when you take a look at some of the national averages. The other great news is that 96.52% of these homes sold for the asking price. Ninety six out of every one hundred homes sold for the list price. In the wake of so much bad news about real estate markets around the country, these figures are fantastic.
More and more people are realizing their retirement dreams in Charlotte. Real estate is being bought by many seniors who changed their minds about Florida. It is reported that North Carolina is becoming the number one retirement state in the nation right now. The weather is perfect. The economy is booming. You have mountains on one side and the ocean on the other. There are so many things to do it is no wonder people are moving in and snatching up the Charlotte real estate so fast.
The economy is stable. The growth rate is steady but fast. There is no want for jobs in Charlotte. Real estate is being sold left and right to people who are advancing their careers when they move to Charlotte. Real estate agents have to move quickly in order to house the population influx. Things could not be better. It is a breath of fresh air to see how good the Charlotte real estate market is. It does not look like it is going to change any time soon.
Article Source: http://EzineArticles.com/1000239
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