CHARLOTTE, N.C. — The Charlotte housing market continues to be one of the hottest in the country in 2022, according to Canopy Realty Association.
"You're gonna have to be flexible. This is one of the most unique markets we've seen," Lee Allen, President of Canopy, said.
Allen said all signs point to minimal cooling in Charlotte real estate this year.
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"$4.5-billion in private equity money is flooding into the Charlotte market, looking to invest in land, build homes, and everything else,"
The infusion of interest and money follows last year's highly competitive market when buyers were often forced to make offers asking price.
"The average sale last year was 100.8% of list price," Allen said.
Allen said the hot market might slightly tempered by an interest rate hike later this year. Still, he said prospective home buyers should line up their banker, lender, and realtor now to be competitive.
"Relationships are gonna matter now more than ever," Allen said. "You're gonna need that trusted advisor that gets you in that door."
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WCNC Charlotte is part of seven major media companies and other local institutions producing I Can’t Afford to Live Here, a collaborative reporting project focused on solutions to the affordable housing crisis in Charlotte. It is a project of the Charlotte Journalism Collaborative, which is supported by the Local Media Project, an initiative launched by the Solutions Journalism Network with support from the Knight Foundation to strengthen and reinvigorate local media ecosystems. See all of our reporting at charlottejournalism.org.