GASTON COUNTY, N.C. — Are you wanting to buy a house? You might get sticker shock if you're looking to buy a home in Gaston County. A normal Gaston County home was listed for $317,500 in May of 2022. According to a survey by Realtor.com, that's up 6.2% from a month earlier.
Outside the hustle and bustle of Charlotte, people are moving outside the city. Real estate agents told WCNC Charlotte the stretches a little further in the suburbs. Robert McClure, a real estate agent, said that is changing slightly.
“In Gaston County alone, the average sales price this week last year was $262,361," McClure said. "Fast forward a year later and it's $291,669."
That's a 12% increase.
McClure also said there are three reasons for the price hikes.
“One, a lot of people moving into the area in general," McClure said.
It comes down to a supply and demand issue. There are not enough homes available for the number of people.
“Two, growth overflowing from Charlotte anyway," McClure said.
Laura Taylor with ReMax Executive in Gastonia agreed. She said the lot sizes tend to be bigger, which draws families out to that area.
“Three, the boom of investor money," McClure said.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
McClure said larger corporations are coming into Gaston County and are buying land up, sight unseen.
“Buyers are aware time is of the essence," Taylor said.
McClure said if you want to wait for cheaper, you can -- but it won't be cheaper for a while.
“Based on what we are seeing, we are not expecting a significant dip in prices or sales in eight to 10 more years," McClure said.
Contact Austin Walker at awalker@wcnc.com and follow him on Facebook, Twitter, and Instagram.