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™|
|Las Vegas, NV||0.25||0.065||0.157||0.035||0.024||0.47||388000||285000||60|