Top Markets We Serve 2021
Are you looking for a new home? Are you up to date with today’s increasing trends in the market? For those searching for some insight as to which real estate housing markets are on fire this year, look no further! Mark Spain Real Estate has compiled an in depth view on the top markets that we serve in 2021.
With Spring quickly approaching, it is important to pay attention to Charlotte’s growing market! Continue reading to see why Charlotte, North Carolina is rising to be one of the top markets for 2021. Mark Spain Real Estate is grateful to serve this ever-growing market, and to help you reach your real estate goals!
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In response to COVID-19, interest rates have remained notably low while market growth has increased at an extremely fast pace. This trend has made purchasing a home more accessible. Buyers, the market is hot and now is the time to buy! Sellers, with the combination of the usual hot spring market plus increasing demand derived from the pandemic, the perfect time to put your home on the market is now! Competition amongst other homes in the market is created, especially in the top markets in 2021.
Top Markets: Charlotte, North Carolina
Technology advancement has driven the market into a steep incline, aiding the conception of continuous growth in 2021 for not only the job market but also the housing market. One of the top 10 housing markets positioned for growth is Charlotte, North Carolina. An increase in technology hubs in 2021 has attracted many millennials. These younger buyers are expected to contribute to the majority of purchases in 2021. As their families are growing, they are transitioning from city life to the suburbs. This is attainable due to the wide range of possibilities in Charlotte, as it is a mixture of a big city with a suburban feel. Data shows an expected 5.2% increase in home prices, 13.8% sales price increase, and a combined sales and price growth increase of 19%.
Additionally, the high quality of life, great year-round weather, phenomenal school system and rich history attract these young buyers. Charlotte is known to be very diverse and has many qualities contributing to its success and increasing market demand. More so, Charlotte is growing so rapidly it is now in the top three in this year’s top markets. It was previously number 7 in 2018. With Charlotte being a top market, businesses will thrive with the amount of consumers flooding the area. More buyers concentrating the market means a smaller housing supply. The effect of this is the booming of construction, which has builders attempting to exceed the demand. Charlotte will be a top tier market, and continue being sought after with it’s new construction.