Homes for any Lifestyle

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Charlotte housing

CHARLOTTE NEIGHBORHOODS HAVE SOMETHING for everyone. Whether close to the city or nestled in the suburbs, from historic homes to modern apartments and condominiums, newcomers can find the perfect place to call home. Not surprisingly, Charlotte is regularly included among the best U.S. cities to live. A strong school system, impressive city services, affordable utilities, and moderate household operating costs are just a few of the benefits of Charlotte neighborhoods. With a strong road network and mass transit options, the average commute time is only 28 minutes.

Charlotte’s inviting atmosphere, pleasant climate, abundant business opportunities and high quality of life continue to attract newcomers.  Charlotte is one of the top moving destinations, according to Penske and United Van Lines.

The Affordable Market

Charlotte is consistently rated as one of the top places to live in America based on quality of life, the variety of housing options and affordability. Because of this, Charlotte has been ranked as one of the most desirable places to purchase a home. Carolina Multiple Listing Services, Inc. (CMLS) reports that the 2012 average sales price for a home in Mecklenburg County was $222,031. This is based on more than 12,770 single-family home closings, totaling $2.7 billion in sales volume. 

Urban Sleek to Suburban Chic

New development has taken off along the light rail corridor as transit-oriented, mixed-use developments provide much sought after live-work environments. The South End neighborhood is booming, with more than 1,800 apartment units currently under construction to meet the needs of new residents. The Charlotte area has many other communities in a variety of styles, price ranges and living environments. In Center City, residents can choose sleek high-rise condos or historic Victorian homes. Getting around is simple, thanks to highly networked streets and roads, two robust interstate systems and abundant mass transit options. 

 

Housing Affordability, Selected Metropolitan Areas

 

 

Median Sales Price

Median Family Income

Share of Homes Affordable for Median Income

 

San Jose, CA

$530,000

$105,000

46

 

Washington, DC

$338,000

$105,700

75

 

Portland, OR

$232,000

$73,000

73

 

Charlotte, NC

$182,000

$68,500

70

 

Dallas, TX

$180,000

$70,600

71

 

Houston, TX

$171,000

$66,900

71

 

Phoenix, AZ

$155,000

$66,400

81

 

Memphis, TN

$127,000

$59,100

79

 

Source: NAHB/Wells Fargo Housing Opportunity Index 3rd Quarter 2012

Historic and Established

Charlotte encourages the preservation of historic homes and construction of new housing that promotes strong neighborhoods through thoughtful land use and zoning practices. Substandard housing is being reduced in older areas of the city, and revitalization efforts are ongoing.

Charlotte’s older neighborhoods exhibit a sense of the city’s past. Many have been kept in pristine condition, while others have been renovated to fit the needs of the 21st century. Concerted efforts to preserve and protect Charlotte’s oldest neighborhoods can be seen close to, inside or farther out from Center City. Dilworth, a neighborhood of bungalow homes, tree-shaded streets and churches centered around Latta Park, has been reborn. Residents, working with local government, are renovating and restoring the old stately homes and a piece of Charlotte’s history. 

Waterfront Developments

The Catawba River, Lake Norman and Lake Wylie provide exciting housing opportunities where you can get away from it all in a short commute from the central business district. Boating, fishing, water sports, golf and tennis can become part of your daily routine with Lake Wylie 20 minutes to the south and Lake Norman 20 minutes to the north of Center City. There is even a PGA-sanctioned golf development, Piper Glen. Master-planned residential communities such as the Sanctuary and the Palisades also provide unparalleled amenities in recreational living.

Other Options

For those who prefer the ease of multi-family locations, there are a number of options. Multi-story and townhouse condos can be found in Center City, near the impressive office buildings, museums and restaurants; in neighborhoods convenient to shopping, schools and entertainment; and in the suburbs near lakes, universities and other amenities. The average closing price was $205,537 in December 2012.

Apartments offer the same variety of location, price and amenities. Luxury complexes have swimming pools, tennis, clubhouses, social events and other features. The average rental rate is $815 for the more than 84,000 multi-family units in Mecklenburg County.

Residential Listings by Real Estate Zone

 

Single Family

Townhouse/Condo

Area

Listed Units

Average

Listed Units

Average

1 (North)

907

$254,050

209

$138,816

2 (East)

617

$150,063

99

$86,034

3 (Southeast)

423

$188,627

67

$101,291

4 (S. Southeast)

513

$360,343

147

$327,341

5 (South)

789

$626,752

325

$261,336

6 (S. Southwest)

289

$252,838

209

$164,490

7 (Southwest)

319

$169,890

75

$121,223

8 (West)

311

$101,395

12

$146,575

9 (Northwest)

460

$184,298

60

$109,589

13 (Lake Norman)

972

$634,855

124

$212,148

15 (Lake Wylie)

362

$494,125

66

$180,813

99 (Uptown)

7

$383,142

145

$373,344

Source: Charlotte Regional Realtor Association, February 2013