Zillow has ranked Charlotte fourth in the top-10 list of hottest real estate markets. In the last 12 months 15,000 homes were sold in Mecklenburg County within the $500,000 range. The average time on the market was just under a month.
Charlotte is listed as one of the fastest growing cities because we offer plenty of opportunity in the world of high finance and healthcare while at the same time providing a less expensive, but convenient option to the more expensive northeast.
About $2B has been spent in development along Charlotte’s South End corridor, where the light rail originated a decade ago. Already, $500M has been spent in new development along the extension for the light rails which is not open yet.
Charlotte is undergoing an intense rewrite of its development rules, which will take years to complete and will address future city planning in areas spanning from building heights to tree ordinances, urban street design to floodplains, erosion control to transportation.
The real estate forecast in the Charlotte, North Carolina area bodes well for the 2018 housing market and beyond.
Here at Camuso CPA, we do have the ability to offer tax preparation and tax planning services to real estate investors. If you are interested into how this service might benefit your portfolio or business, please don’t hesitate to give us a call today. One of our friendly and knowledgeable representatives will be happy to answers any questions you have.