Inventory all over Charlotte is at a record low, creating a strong seller’s market. Even with ongoing construction of new apartments, condos and subdivisions, supply can’t keep up with demand and prices are rising. $500,000 may not go as far as it used to, but it can still score you a beautiful home, if you know where to look and have a terrific Realtor®.
You may be able to snag a 2,000 square-foot bungalow in Plaza Midwood or Villa Heights for approximately $500,000, but the most likely area to find the largest quantity of homes priced between $450,000 and $550,000 is in the middle of Uptown and Ballantyne between South Boulevard and Monroe Road toward the east side of Charlotte.
Uptown is home to very few options, but there are a few townhouses under contract priced at approximately $500,000 that include three bedrooms, three and a half bathrooms, and approximately 2,200 square feet. However, a condo unit in a high-rise building in Uptown at the same price will only provide you with 1,200 square feet, though there is not a lot of inventory available at that price.
A few neighborhoods surrounding Lake Wylie and Lake Norman also feature great homes at the $500,000 price point if you are looking to get a little bit out of town and near the water.
For more details and a photo slideshow of potentially available properties around town priced at approximately $500,000, be sure to check out bizjournals.com.