Depending on geography, American home sales and home values took a big hit in recent years. Inflated home sale prices led to decreased home values in 2006 and 2007, which left many homeowners owing more on their mortgage than their home was actually worth. This housing bubble led to more foreclosures in 2008 than the country had ever experienced. Specifically, nationwide there were more than three million foreclosures. These dismal figures do not apply to every city, however. Case in point is Charlotte north carolina real estate including Charlotte NC homes for sale.
Named after British Queen Charlotte Sophia, Charlotte, which is the seat of Mecklenberg County as well as the largest city in North Carolina, boasts median home sale prices of $190,000. Not only is this price tag higher than the national average, but Charlotte NC homes for sale and Charlotte real estate have experienced a $27,000 year over year increase, too. An increase in home value underscores one of the many appeals of the area and why many people are relocating to charlotte nc.
The economy of North Carolina is healing a lot more quickly than the rest of the country, too. The majority of large and small businesses alike are optimistic about the economy, and most residents are positive regarding the steady increase in home values of Charlotte NC homes for sale. These factors, combined with the geography, add to the appeal of the area.
Charlotte NC homes for sale reside in nearly 200 neighborhoods within and surrounding the area. Some of these areas, specifically Lake Norman real estate and Lake Wylie real estate, are situated within close proximity to water. As such, Charlotte NC homes for sale, like Lake Norman waterfront homes, are prime real estate Charlotte NC options. The limited inventory of Charlotte NC homes for sale, combined with unprecedentedly low mortgage interest rates, make this area a hot commodity in the real estate market. As such, potential buyers seeking Charlotte NC homes for sale would be best served getting pre approved for a mortgage, as opposed to just pre qualified.