Your Charlotte NC Real Estate Questions Answered
Your Charlotte, NC Real Estate Questions Answered
Charlotte's bustling atmosphere and diverse urban culture make it a great place to call home. If you're moving into Charlotte from another area, you're not alone. Around 40% of the area's population has come from somewhere else. The economy is bolstered by the financial sector, manufacturing, professional services, and international connections. It has several universities, professional sports teams, and entertainment venues that attract people from metropolitan areas and the United States.
Want to know more about the Charlotte real estate market? We have you covered. Scroll through to find all your Charlotte, North Carolina real estate questions answered.
What is the average price of a home in Charlotte, NC?
Charlotte has a large real estate market, encompassing numerous neighborhoods and suburbs. In October 2021, there were over 4,000 listings available, with a median list price of $394,040. The average price per square foot was $218.51. Homes display a range of architectural styles and layouts.
If you are looking for inexpensive properties, such as for real estate investing or for a fixer-upper project, the market began at $54,000 for a 760 sq ft home in Breckenridge. On the other end of the spectrum, the luxury market topped out at $5,998,000 for a 17,135 sq ft home with six bedrooms, eight full bathrooms, and three half-bathrooms on 11 acres with waterfront access.
Median housing prices within the Charlotte city limits have been steadily rising since 2013 when they were near $150,000. There's been a sharper increase since the start of 2020.
Are there any condos or townhomes available in Charlotte, NC?
Yes, condominium and townhome real estate are available in Charlotte, with ample options available at different price points. The market data for October 2021 had 316 active condominium and townhome properties on the market. Pricing started at $75,800 for two bedrooms, one full bath, one 1/2 bath in Quail Run. The top of the market was a new construction luxury condominium listed for $3.495M with three bedrooms, four full baths, and one 1/2 bath at The Regent at Eastover.
You can find condo options from Uptown Charlotte to suburbs across the city. Concentrations of these kinds of properties can be found in Uptown, Starmount, Eastover, Dilworth, Brookhill, South Park, Providence Park, and Seversville. The styling ranges from high-rise luxury condos to quiet neighborhoods of townhomes.
What is the most expensive neighborhood in Charlotte?
Based on median home values and median household income, Eastover has the most expensive homes in Charlotte. Median home values were at $1.1M in 2021. Residents live minutes from Uptown and close to Queens University of Charlotte. The cost of living index here is 191 versus 101 for the whole city. After Eastover, the next three most expensive neighborhoods are Myers Park and Wendover-Sedgewood, which are around Eastover, and Wessex Square, near Cedarwood Country Club.
What county is Charlotte, NC in?
Charlotte lies inside Mecklenburg County and takes up the majority of the county. Mecklenburg is a great place to live for people of all ages because of its robust entertainment options. Charlotte is often ranked one of the best places to live in the United States by various media sources.
Mecklenburg is part of the Piedmont Region, which spans from South Carolina into North Carolina. Around one million people live inside its borders. Charlotte and the metro are known as a hub for business, particularly in the financial industry.
The residents of Charlotte and greater Mecklenburg County have the advantage of a temperate climate which includes humid summers and chilly winters. There is a full range of seasons without having a lot of snowfall. Being an inland city, it's more protected from the impacts of any tropical events that run up the North Carolina coastline.
The cost of living in a metropolis of Charlotte's size is also relatively more affordable when compared to other major metropolitan areas such as Washington DC and Chicago.
Is Charlotte, NC growing?
The US Census counted 874,579 residents in 2020, a 16.3% increase from 2010. Almost 150,000 new residents were added to the greater Charlotte Metro. For the entire Mecklenburg County, the 1,115,482 residents represented an increase of 17.5% over the decade. US News & World Report ranks Charlotte as the no. 22 fastest growing city in the United States in 2021. The region's entire population is projected to grow by 21% between 2010 and 2030. The urban core in Mecklenburg County is anticipated to add 600,000 people by 2050.
What are Charlotte property taxes?
Your property taxes will vary by where you live in Charlotte. Mecklenburg County charged $0.6169 per $100 of assessed home value. Charlotte had a Law Enforcement Service District Tax Rate of $01.781 and a Fire Protection Service District Tax Rate of $0.0750.
The City of Charlotte charged $0.3481 per $100 of assessed value for the Fiscal Year 2020-2021. There were also five municipal tax districts with rates ranging from $0.0136 to $0.0474.
For specific data, visit the Mecklenburg County Tax Assessor website with the specific property address. You can find tax information for any property you are interested in buying.
What areas are near Charlotte, NC?
Charlotte is the main hub for the region, serving over one million residents who enjoy living, working, and playing in a metropolitan destination. Surrounding Charlotte are numerous suburbs with dining, retail, entertainment, and real estate options. Weddington, Matthews, Indian Trail, Harrisburg, Concord, Kannapolis, Huntersville, Cornelius, Tega Cay, Gastonia, and Rock Hill are the most notable suburbs.
Charlotte sits on the North Carolina and South Carolina border. I-77 connects Charlotte to Rock Hill and destinations beyond.
If you enjoy whitewater rafting, mountain biking, and hiking, you're not far from the Appalachian Mountains. I-85 connects Charlotte residents to Kings Mountain and Spartanburg, SC. Asheville, NC, is just over two hours drive, and the beaches at Wilmington, NC, are 3.5 hours' drive. You could easily make a day or weekend trip to these destinations.
Are there any waterfront properties found in Charlotte, NC?
Waterfront properties are not common in Charlotte, NC. There are three large lakes in the area: Lake Norman, Lake Wylie, and Mountain Island Lake. These lakes, while nearby, are not in the city limits. If you want waterfront property, you'll need to live outside the city, like in Cornelius, Huntersville, or Steele Creek.
Is there lakefront or riverfront property in Charlotte, NC?
You won't find lakefront or riverfront property inside the Charlotte city limits, but there are lakefront properties in greater Mecklenburg County. You'll find homes along Lake Wylie, the Catawba River, Mountain Island Lake, and Lake Norman. From these local lakes, you'll be anywhere from 15-45 minutes from Uptown Charlotte.
How is golf in Charlotte, NC?
Charlotte has an extensive collection of golf courses and clubs available. In total, there are 53 golf courses inside the city limits and in the surrounding suburbs.
As rated by Charlotte area golfers, the top three courses are Verdict Ridge Golf & Country Club, Eagle Chase Golf Club, and Rocky River Golf Club. The Verdict Ridge course is known for its challenging design and being one of the few family-owned clubs around. Eagle Chase earns a top spot for its picturesque yet challenging layout, with elevation changes and water hazards. Rocky River is home to the UNC Golf team and is known for its prime location and good conditions.
Are there golf course communities in Charlotte, NC?
If you'd like the country club lifestyle or just quick access to fairways, you have ample choices for golf course neighborhoods in Charlotte. Select from about 25 golf course neighborhoods.
On the lower end of the pricing spectrum, Signature Ridge offered condominiums starting at $250,000 in October 2021. The luxury market had golf course community homes at The Point with direct waterfront access maxing out at $4.395 million for 8,413 sq ft.
Other golf course communities include, but are not limited to, Carolina Lakes, Raintree, Silver Gull, Ballantyne Country Club, Longview, The Palisades, Tega Cay, River Run, Olde Sycamore, Highland Creek, and Greenview Terraces.
Living in Charlotte, NC
Part of the fun of moving to Charlotte is exploring the diverse neighborhoods and communities. Look around to find the ideal place to live for you. Connect with a local market expert to help you navigate the real estate market. If you have any other questions, please let us know!