Single family home prices in the Charlotte region are now outpacing the rest of the entire nation, rising 5.8% in 2016. Average appreciation across America showed just a 5.3% increase, according to the most recent S&P CoreLogic Case-Shiller Home Index report.
The growth in Charlotte continues to build on the upward trend after our great recession, which started just 10 years ago.
Home prices are now just 0.1% below the record high prices of 2006.
According to the report, “The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, recorded a 5.3% annual gain in 2016. The 10-City and 20-City Composites reported year-over-year increases of 4.3% and 5.1%.
This increasing price trend is causing some homes to sit on the market longer since many sellers won’t settle for anything less than top dollar.
Charlotte area Realtors are now getting creative, finding new ways to sell homes for increasingly higher prices, such as Lake Norman’s new ‘Home of The Day’ trend.
Do you think Charlotte home prices will continue to climb in light of Charlotte’s current building boom?