Raleigh, Charlotte Both In Top 10 Real Estate Markets

By David Larson
Carolina Journal

A study by Quicken Loans on the hottest real-estate markets in the nation found that two of the top 10 were in the Tar Heel state. Raleigh came in at No. 3, and Charlotte at No. 9 in the 2022 rankings.

According to Quicken Loans’ research, Raleigh was only topped by the booming Arizona cities of Mesa and Phoenix. Others in the top 10 include Austin, Texas; Las Vegas, Nevada; Bakersfield, California; Aurora, Colorado; Jacksonville, Florida; and Nashville, Tennessee — all cities in the Southern and western regions.

The data for Raleigh included a median home value of $371,682, with the median listing price jumping 25.2% year-over-year. From the end of 2020 to the end of 2021, the housing price index (HPI) increased 20.7%. Population growth, the last metric they measured, jumped 15.79% between the 2010 and 2020 censuses.

“Raleigh is a growing hub for younger professionals,” the study said. “This steep increase suggests that it’s a great opportunity for Raleigh residents to sell.”

In Charlotte, similar jumps in population and housing prices were seen. The current median home values of $354,884, and the median listing price has increased 18.9% year-over-year. The housing price index increased by an identical percentage as Raleigh, with 20.7%; and population growth was even faster than Raleigh’s, with 19.57%.

The report cited Charlotte’s weather, strong education system, and museums as reasons for the high demand to live in the Queen City.

“Charlotte is a real estate seller’s market, as indicated by 72% of its homes being sold above asking price in April 2022,” the report said.

1 COMMENT

  1. Throw in affordable housing then they can be top 10 but as for now they way at the bottom..Meaning people who live check to check could afford

Comments are closed.