06 Jun Early June Real Estate News Review
Home prices in the Charlotte area increased significantly in March, while reports showed that Charlotte suburbs are the easiest places to sell homes in North Carolina. A large printing and business facility is moving to Concord, providing the area with new jobs and an economy boost. Here are a few of the stories we have our eye on this week:
Charlotte suburbs ranked the easiest place in NC to sell homes
SmartAsset recently released a report of Healthiest Housing Markets, stating that homes in the Charlotte suburbs are the easiest in North Carolina to sell. Residential properties in the Charlotte area averaged 39.1 days on the market. SmartAsset considered four factors when creating the report: stability, affordability, fluidity and risk of loss. Within North Carolina, Matthews ranked as the number one easiest place to sell a home, with homes staying on the market an average of 33.9 days. To view the full report, click here.
Charlotte home prices rise in March
According to the latest S&P/Case-Shiller index, home prices in the Charlotte area increased 4.2% in March, but fell below the national average increase of 5.2%. The report stated that prices in the Charlotte area appreciated 4.7% in March from the previous year. David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, commented:
“The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates. Another factor behind rising home prices in the limited supply of homes on the market.”
iTek Corporation moving to Concord
iTek Corporation, a commercial print and business solutions company currently located in Charlotte, is moving its operation to a larger facility at the Airport Industrial Park in Concord. John Rawlins, president of iTek, stated:
“We look forward moving to the Concord area and helping to be able to add to the advancing edge of economic activity in this dynamic area.”
The new facility will give the company 50% more space than their previous location. Rawlins said that the move was necessary due to significant growth over the past few years. Concord Mayor Scott Padgett remarked:
“The growth in our industrial tax base means more resources to provide public services, so we can keep taxes low for residential property owners. Of course, the best benefit is good paying manufacturing jobs to help families.”
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Martin, J. “This Charlotte suburb is easiest place in N.C. to sell a home” Web Blog Post. Charlotte Business Journal. 1 Jun 2016. Web. 6 Jun 2016.
Martin, J. “Charlotte home prices still rising — but not faster than national average” Web Blog Post. Charlotte Business Journal. 31 May 2016. Web. 6 Jun 2016.
Staff Reports. “iTek Corporation relocating to Concord Airport Industrial Park” Web Blog Post. Independent Tribune. 23 May 2016. Web. 6 Jun 2016.