Zillow recently released their list of 2022’s top 10 hottest U.S. housing markets and for North Carolinians, both native and transplants like myself, it comes as no surprise that two of our own make up that list.
- Tampa, Fla
- Jacksonville, Fla
- Raleigh, NC
- San Antonio, Tx
- Charlotte, NC
- Nashville, Tn
- Atlanta, Ga
- Phoenix, Az
- Orlando, Flo
- Austin, Tx
With Charlotte rounding out the top 5 hottest housing markets, I’m reminded of the advice that I find myself giving my clients on a near daily basis.
- The Charlotte metro is a strong market. As people leave more expensive regions like the west coast (California, Seattle, etc) and the east coast (NY/NJ/CT), Charlotte is an attractive location for relocating professionals and families. The corona virus pandemic also revealed to many corporations that having a largely remote/work-from-home employee base is both viable and cost-effective. In turn, I’ve personally worked with a number of relocating families who are coming into the Charlotte region while maintaining their east coast/west coast jobs. In other words, they can keep their NYC salaries while enjoying the lower cost of living that Charlotte has relative to where they’ve come from.
- Today’s price will not be tomorrows price: There is still an inventory shortage, which means that for the moment at least, we are still in a sellers market. The average sales price in the Charlotte housing market currently sits around $356,000. We will see prices increase month over month until it steadies. In June of 2021 I helped a relocating family purchase a townhome in the Northlake area, that very same community is now selling for an average of $25k-30k higher for similarly spec’d units. It hasn’t even been a full year yet folks!
- The market is not going to crash & you shouldn’t want it to either: I frequently run into potential buyers who decide that they are going to “wait for the market to crash” or “wait for the market to slow down” before they purchase. Often, they mention the housing crash of 2008 as their reference point. To be clear, the series of problems that caused the 2008 crash are NOT the same as what we are experiencing now. There won’t be a “crash”. But even so, you shouldn’t wish for that. Many people lost their entire livelihoods as result of the mess of 08. If you have to wait for a similar occurrence, than chances are, you still wouldn’t be in a good position to purchase.
- Strategy and patience will win the day in this market: I stand by this statement: “Today is the perfect time to buy a home”. I repeat those words to my clients and customers about a dozen times a week. But while I stand by those words – I also recognize and experience with my clients, the grueling and sometimes stressful process of searching for the perfect home and winning that offer. However let me say this, ‘strategy’ and ‘patience’ are going to be two of your strongest assets. We will work together to develop the most effective strategy that helps meet your goals and I will help keep you focused and patient during the process!
I encourage you to not give up on your goal of buying a home or investment property even in this challenging market. Submit your info in the contact form below. I’ll connect with you to schedule a time for us to chat!
Eboni Hemingway-Poole is a full-time Realtor serving North Carolina and South Carolina. She lives in the North Charlotte area with her husband and their 3 children. Eboni works with buyers, sellers and relocating families.
Contact Form
We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
