Where Prices are Jumping in the Queen City
As the first quarter of 2019 ends, it’s time to look at the numbers. Recently, the Charlotte Business Journal covered the zip codes in Charlotte where prices are rising– and compared them to 2018.
By the end of 2018, Charlotte was right in line with the national growth average. The average price for a home sold in the Charlotte Metro (which includes homes in Mecklenburg, Gaston, Union, and Iredell counties, among others) 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.
By the (Zip) Code
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
But what about 2019? Well, prices are continuing to grow but it’s been a tiny bit slower.
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.
For the full slideshow of all 29 zip codes and their growth, visit the Charlotte Business Journal.
If you live in one of these highly desirable areas and are interested in capitalizing on the market, contact me today!