What are Charlotte home buyers looking for? These are the biggest trends in the area
Sellers are in control right now in the Charlotte real estate market, industry experts say, meaning those looking to buy are having to keep an open mind as they look for their new home.
Still, according to those in real estate, there are some trends among buyers, many of which have been shaped by the tight housing market and the ways in which the COVID-19 pandemic has reshaped lifestyles.
Here’s what prospective home buyers in and around Charlotte are looking, and settling for, as they house hunt during 2022’s peak season for home sales:
Townhomes and condos
With home prices reaching record levels and Charlotte’s housing inventory low, many are looking beyond single-family homes, Hadi Atri, president and CEO of RE/MAX Executive in Charlotte, told The Charlotte Observer.
“Condos and townhomes have had some of the strongest sales as far as the last 12 months, especially in the first quarter of this year,” he said. “That was because of so many people that cannot afford a single-family home. They go after the townhouses.”
Three and four-bedroom homes
For those that do have their heart set on a single-family home, Atri added, there are a couple of things often high on Charlotte buyers’ wish lists.
“A lot of people are looking for three- or four-bedroom homes, two-and-a-half to three baths,” he said.
“The most attractive” homes that meet those requirements are in the “$300,000 to $400,000 price point.”
Maximized space
Since the onset of the COVID-19 pandemic, many have been spending more time at home. And many have continued to embrace working from home, at least part-time.
That, the National Association of Realtors says in a breakdown of 2022 home trends, is driving a desire among buyers to find a home with “multi-functional spaces,” such as bedrooms that can double as home offices or dining rooms that can serve as kid-friendly spaces for school work and crafts.
“Spaces are adapting not only to our needs but for different occasions,” home staging expert Krisztina Bell told the association.
People are also interested in outdoor areas that can be used for entertaining and relaxing, and indoor areas that bring the outside in, such as spaces with large windows.
Embracing the suburbs
Buyers looking to have more options at a reasonable price point are having to look out into suburbs and beyond, including areas such as Belmont, Gastonia, Mint Hill and Hickory.
“Those are really the affordable areas,” Helen Adams Realty realtor Frank Adams previously told the Observer. “These town centers that wouldn’t traditionally be considered suburbs, but certainly now as work-from-home options get more and more flexible and you’re not commuting five days a week per se, that drive becomes more manageable.”
This story was originally published May 11, 2022 at 9:00 AM.
