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Charlotte Ranked Among The Top 4 Metros Primed for Growth Over the Next Decade

In spite of Charlotte’s recent housing boom, the Queen City still has plenty of room to grow.

According to a new report by RedFin, Charlotte has been ranked as one of the top 4 metros “primed for growth over the next decade”.

The report analyzed 78 metros across the United States and ranked the top 4 cities based on average share of land value be less than 30%, home price growth be more than 4%, home sales growth be greater than 4%, and percent of searches from outside the metro be at least 40%.

“In Charlotte, home sales are growing at an annual pace of 14.5%. With 40% of search activity coming from outside of the metro, Charlotte—where household incomes are growing 5% annually and jobs grew 2.9% in 2019, well above the national rate of 1.4%—will continue to attract job seekers. Charlotte is well positioned to absorb growth given that land comprises only 28% of home values on average in the metro. Notably, Charlotte is home to one of 2019’s hottest neighborhoods in the country (Wildwood), and that neighborhood has a new housing development under construction,” the report notes.

Top 4 Growth Metros For The Coming Decade

Metro Average Land Share of Home Value Median Sale Price Growth Homes Sales Growth Median Household Income Growth Job Growth Percent of Searches from Outside the Metro Median Sale Price – New Construction Median Sale Price – Existing City Compete Score™
Spokane, WA 0.23 0.142 0.055 0.047 0.017 0.73 350000 255000 85
Las Vegas, NV 0.25 0.065 0.157 0.035 0.024 0.47 388000 285000 60
Charlotte, NC 0.28 0.091 0.145 0.051 0.029 0.4 325000 248000 66
Orlando, FL 0.29 0.07 0.147 0.054 0.032 0.51 316000 250000 75

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