I am a new investor in the Charlotte market and as I was doing research on the area, I was wondering if anyone has seen certain neighborhoods or areas of Charlotte really start to grow in the last year? I would love to get a better understanding of this market!
Real Estate Agent · Charlotte, NC · Member since 2019 · 13 posts · 23 votes
2y
@Andrew Balla I was just looking at some data this morning and 3 zip codes I've got my eye on are 28206 (+11.6% YoY), 28208 (+9.1% YoY), and 28215 (+6.9% YoY - particularly Shannon Woods and Windsor Park neighborhoods which border the 28205 zip code). Those YoY #'s are on the median sale price as of Feb 2024. The median sale prices in those zips are in line with the median for all of Charlotte, right around $375k-$385k. I also really like the 28212 zip code for more of a long-term play on appreciation, with the proposed light rail line hopefully coming in the next 10 or so years. Other areas I also like in the surrounding areas for investments are Kannapolis, Concord, Belmont and Monroe. With all of that being said finding deals that pencil out on the MLS, really anywhere in Charlotte will be slim, but targeting these areas for off-market deals could produce some favorable returns.
Real Estate Agent · Charlotte, NC · Member since 2019 · 13 posts · 23 votes
2y
@Andrew Balla I was just looking at some data this morning and 3 zip codes I've got my eye on are 28206 (+11.6% YoY), 28208 (+9.1% YoY), and 28215 (+6.9% YoY - particularly Shannon Woods and Windsor Park neighborhoods which border the 28205 zip code). Those YoY #'s are on the median sale price as of Feb 2024. The median sale prices in those zips are in line with the median for all of Charlotte, right around $375k-$385k. I also really like the 28212 zip code for more of a long-term play on appreciation, with the proposed light rail line hopefully coming in the next 10 or so years. Other areas I also like in the surrounding areas for investments are Kannapolis, Concord, Belmont and Monroe. With all of that being said finding deals that pencil out on the MLS, really anywhere in Charlotte will be slim, but targeting these areas for off-market deals could produce some favorable returns.