Zillow No Longer Ranks This North Carolina City Hottest In The Nation
Zillow no longer ranks this North Carolina city hottest in the nation. But its outlook for the surrounding metro is still highly ranked. The home evaluation website just released it’s…
Zillow no longer ranks this North Carolina city hottest in the nation. But its outlook for the surrounding metro is still highly ranked. The home evaluation website just released it's list of the hottest housing markets for 2024. That list ranks the top 50 largest metro areas.
Charlotte fell from first to seventh in rankings. The Queen City is still in the top ten but why the fall from grace? According to our source, the Charlotte Business Journal, it "had earned the top spot due to growth projections for both home values and homeowners households".
This is how the findings were determined by Zillow. In the study they analyzed markets on expected home value appreciation from December 2023 to November 2024. It's based on anticipated value from the previous year, job growth and speed at which homes are sold among other things.
I was once offered a morning radio job in Buffalo, so I am always interested in what is happening there. Buffalo, New York ranked number one. Zillow says Buffalo had tons of new jobs per new homes permitted and that signals demand. The study ranked Atlanta just above Charlotte. Atlanta ranked 6th. Zillow no longer ranks this North Carolina city hottest in the nation. And by this I mean, Charlotte.
Buyers are reportedly exhausted from steep home prices. According to some market analysts, affordability will become the key driver in 2024 among home buyers. Data scientist Anushna Prakesh agrees. "Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity," Prakesh said. He was quoted in the Charlotte Business Journal.
A typical home in the Charlotte Metro is around $371,844. That is close to the national average at $347, 415. The real estate Charlotte metro includes Union, Gaston, Rowan, Burke, Cabarrus, Lincoln,York, Chester and Iredell counties. For more information get details from our source the Charlotte Business Journal.
5 Charlotte Area Neighborhoods Among The 10 Best Places To Buy A House In North Carolina
While there may be a slight improvement it's still a crazy market to try to buy a home in. The prices seem to stay crazy high, with no end to this housing bubble in sight. I would love to buy my first house, but like many, I simply can't in this market. And if you are paying these prices you want to make sure you're buying in the right area. Luckily, Niche.com decided to do the homework to determine the best places to buy a house in North Carolina. They recently released a list of the best places to live in the state, factoring in both cities, suburbs, towns and city neighborhoods.
Charlotte and the surrounding areas were very well represented on this list with five Charlotte neighborhoods making the top 10 places to buy a house. This includes both neighborhoods and suburbs.
“The Best Places to Buy a House ranking provides a comprehensive assessment of the housing and community of an area,” they explain the in the study. “This grade takes into account key factors of a location’s housing market, including home values, taxes, crime rates, and quality of local schools, in an attempt to measure the quality and stability of an area’s real estate market.”
Other factors included in the analysis include home value to income ratio, public school grades, monthly housing costs, the cost of living, the higher education rate, the median home value, and more.
So, are the best places to buy a house in North Carolina? Read on for the top 10 as well as the other Charlotte area neighborhoods. Or you can read the full list via Niche.com.
24. Hemby Bridge, NC
Hemby Bridge is a small town in Union County, NC. The town has a population of 1,957.
23. Governor's Square
The Governor's Square neighborhood of Charlotte is in the South Park area. It includes the area of Charlotte Country Day between Carmel, Sharon View, Sharon, and Colony.
20. Weddington
I'm a little surprised Weddington didn't rank higher on this list. Union County and Weddington in particular tend to get a lot of love, particularly for the schools. This are is continuing to see rapid growth and people flocking to it, for good reason.
16. Pleasant Hill Road
The Pleasant Hill Neighborhood of Charlotte is home to around 7,000 people. It's situated on Lake Wylie but still within the city limits.
12. Harrisburg
The suburb of Harrisburg sits northeast of Charlotte in Cabarrus County. With a population over around 18,500 it's got a small town feel close to the hustle and bustle of Charlotte.
10. Providence Crossing
Providence Crossing is a quiet South Charlotte neighborhood that includes the Waverly and Rae Farms shopping centers. This area has experienced rapid growth and has plenty to offer residents.
9. Boiling Springs
Boiling Springs, the town of just under 5,000 is located in Cleveland County. The town is home to Gardner Webb University and is a single stoplight town.
8. Olde Providence South
A great location and wonderful schools make Olde Providence South the 8th best place to buy a house in North Carolina. The neighborhood is nestled off Providence Road about halfway between SouthPark and the Arboretum area.
7. McAdenville
Who wouldn't want to live in Christmastown USA? This Gaston County town is convenient to Charlotte and Gastonia but has its own personality.
6. Stokesdale
Stokesdale is a Guilford County suburb of Greensboro. This small town makes a great place to call home.
5. Wallburg
We stay in the triad region with Wallburg coming in at number 5 on Niche's list. Wallburg is a Winston-Salem suburb and is home to around 3,000 residents.
4. Lewisville
Our last stop in the Triad is Lewisville. Residents love the quaint downtown but the area is large enough to provide all residents need just a stone's throw from Winston-Salem.
3. Fairview
At first glance I assumed this was the area around Fairview Road/SouthPark in Charlotte. But it's actually Fairview in Buncombe County. This town of just under 3,000 residents is just outside of Asheville.
2. Providence Plantation
This massive south Charlotte neighborhood comes in at number 2 on this not to my surprise. It's got great schools and is convenient to shopping, dining, and many other amenities.
1. Colonial Village
Did you have to take a second look at the map to see exactly where Colonial Village was? I know I did. In the lower Southend area is Colonial Village a neighborhood that is currently benefiting from rapid growth and development. Securing a home in this neighborhood will get you a great return on your investment in a few years.
