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Jan. 17, 2021

1-17-21 Charlotte Real Estate Update

This week's Charlotte Market Report from My Charlotte Real Estate Agents at Fathom Realty includes detail on the following:
  • Charlotte's Weekly Sales Update and Final Charlotte Region Sales Numbers from 2020
  • The Five Worst Home Improvements for Sellers
  • Our Best of Charlotte Series featuring The Best Place to Take Out-of-Town Visitors
 

For the week ending January 2, 2021:

  • New Listings decreased 14.8% to 559 
  • Pending Sales increased 1.9% to 646
  • Inventory decreased 50.9% to 4,391
For the month of December 2020:
  • Median Sales Price increased 10.2% to $291,950
  • List to Close decreased 13.4% to 84
  • Percent of Original List Price Received increased 2.6% to 98.9%
  • Months Supply of Homes for Sale decreased 55.0% to 0.9
 
 
The Best Place to Take
Out-of-Town Visitors
Michael’s Pick:
The U.S. National Whitewater Center
5000 Whitewater Center Pkwy
Charlotte, NC 28214
www.usnwx.org
 
This is the only place in the United States like this.  There are activities for children and adults year round, and the yearly pass is one of the best deals in all of Charlotte.

Out of town guests love visiting the center because it is so unique, and offers something for everyone.
Frank’s Pick: 
Alexander Michael's
401 W 9th Street
Charlotte, NC 28202
https://almikestavern.com/

Alexander Michael's makes for the cutest pit-stop that I take almost all my out-of-town guests to.  I am in Real Estate, and the little area of Fourth Ward has some of the prettiest homes in all of Charlotte.  Guests love to see the history, and they love that in a city, there can be such a cute community tucked away in the middle.  Alexander Michael's is cozy, warm, and the perfect stop for lunch or dinner while showcasing Charlotte.
  
Posted in Best Of Charlotte, Market Updates
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Jan. 7, 2021

1-7-21 Charlotte Real Estate Update

This week's Charlotte Market Report from My Charlotte Real Estate Agents at Fathom Realty includes detail on the following:
  • New 2021 Loan Limits
  • Sales numbers for Charlotte for the week ending December 26, 2020
  • A look at the increase of the average priced home in Charlotte over the last five years
  • Our Best of Charlotte Series featuring The Best Wings in Charlotte
 
 

For the week ending December 26:

  • New Listings increased 21.6% year-over-year to 462
  • Pending Sales increased 40.4% year-over-year to 657
  • Inventory decreased 51.5% year-over-year to 4,400
Year end statistics should be available in the next ten days.  Weekly trends on listings increasing will be a critical statistic in 2021 as inventory has fallen significantly.
 
The average sales price in Charlotte continued to climb significantly in 2020.   The final December pricing was $356,712, 11.3% higher than the previous average of $320,288 in December 2019.
 
The Best Wings in Charlotte
Michael’s Pick:
Tavern on the Tracks
4520 North Tryon Street
Charlotte, NC 28203
https://tavernonthetracks.com/
 
We took turns going first when picking our best-of items, and Frank picked first here.  But his answer was the ONLY right answer.  With that said, my pick is a combo wing and chicken tender review.

Tavern on the Tracks serves great wings.  They are a Buffalo bar, they should.  But what they knock out of the park are their buffalo chicken tenders.  They have a thick buffalo sauce that is perfect.  The chicken is crispy but not all breading.  The tenders are one of the best items served in any bar in Charlotte.
Frank’s Pick: 
The Wing King Cafe
200 N Dobys Bridge Road #164
Fort Mill, SC 29715
thewingkingcafe.com

This was the easiest answer for us.  There is no better wing place around Charlotte than the Wing King Cafe.

Their traditional wings are perfect, but I love their grilled wings with buffalo sauce as well. One of the things that is the icing on the cake for me at Wing King is their blue cheese that they serve with the wings.  It is that thick chunky kind that you need with spicy wings.  

They have two locations, and they are both awesome.  I prefer the location listed above because they have better parking.  
  
 
Search Homes in the Charlotte Metro and Surrounding Areas at CLTREA.com
 
Posted in Best Of Charlotte, Market Updates
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Dec. 17, 2020

12-17-20 Charlotte Real Estate Update
Realtor.com named their top projected housing markets in 2021 this week. Charlotte Ranked #3 on their list behind only Sacramento and San Jose, CA.  Realtor.com estimated Charlotte would see a 13.8% increase in sales year-over-year and 5.2% increase in price growth year-over-year.  For the full article, click here.
 

For the week ending December 5:

  • New Listings increased 7.6% year-over-year to 929
  • Pending Sales increased 43.4% year-over-year to 975
  • Inventory decreased 49.8% year-over-year to 4,755
 
New Listings were up in the Charlotte region by 7.9 percent to 4,036. Pending Sales increased 26.4 percent to 4,509. Inventory shrank 52.4 percent to 4,554. Prices moved higher as Median Sales Price was up 13.7 percent to $290,000. Months Supply of Homes for Sale was down 54.5 percent to 1.0., indicating that demand increased relative to supply.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.

- Canopy MLS December 5, 2020
 
Favorite Sandwich in Charlotte:
Michael’s Pick:
Le's Sandwiches
4520 North Tryon Street
Charlotte, NC 28213
http://www.lesbanhmishop.com/
 
Le's Sandwiches has been a favorite of Michael's for years.  This is his top stop for the best bahn mi in Charlotte. 

His order is simple:   A #6 grilled pork with double meat extra spicy.  Oh, and he often orders two of them.

Located in the Asian Corner Mall, if you haven't been there before Le's can be tough to find.  It is located inside the mall behind the International Supermarket.  Watch out for the pot holes outside, the parking lot is one of the worst in Charlotte.  It is totally worth it though for this amazing sandwich shop.
Frank’s Pick: 
NoDa Bodega
1200 E 36th Street
Charlotte, NC 28205
https://www.facebook.com/NodaBodega/
 
Frank's pick for the best sandwich in Charlotte is "The Bodega Cuban". 

This isn't a traditional Cuban sandwich, it is a jalapeno pale ale braised pork shoulder with ham, white American cheese, pickled red onions, and chipotle honey mustard sauce on a pressed baguette.  Unfortunately, this is NOT a regular item.  The NoDa Bodega only serves it as a special mostly on Tuesdays each week.

Frank also highly recommends a bag of their Zapp's VooDoo chips with the sandwich as well.
  
Posted in Best Of Charlotte, Market Updates
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Dec. 2, 2020

12-2-20 Charlotte Real Estate Update

 
 

Monthly Real Estate Update

In the Charlotte region, for the week ending November 21:
 • New Listings increased 13.5% to 1,000
 • Pending Sales increased 34.3% to 1,155
 • Inventory decreased 49.8% to 5,009
Address City Beds Bath Sq Feet Original List Price Current Price Price Reduced
4120 Avalon Avenue Charlotte 3 1/0 1,237 $400,000 $275,000 ($125,000)
9416 Lawing School Road Charlotte 4 2/2 3,688 $500,000 $380,000 ($120,000)
4124 Randolph Road Charlotte 4 2/0 1,694 $579,000 $499,000 ($80,000)
15633 Old Statesville Road Huntersville 3 1/0 1,575 $450,000 $375,000 ($75,000)
3815 Carmel Forest Drive Charlotte 4 3/1 2,362 $525,000 $469,000 ($56,000)
3409 Ludman Way Matthews 4 2/1 2,495 $500,000 $444,000 ($56,000)
10531 Mount Holly Huntersville Road Huntersville 3 2/0 1,884 $550,000 $499,900 ($50,100)
1824 Merriman Avenue Charlotte 3 3/0 2,272 $525,000 $475,000 ($50,000)
5345 Wilgrove Mint Hill Road Mint Hill 5 2/1 3,152 $549,000 $499,900 ($49,100)
2800 Wingfield Place Charlotte 4 2/1 2,105 $474,500 $429,500 ($45,000)

* Homes Listed as of 12/1/2020 - On the market at least 30 days - per Canopy MLS Data
Best Place to Buy Gifts in Charlotte
Michael’s Pick:
Toy Mania
242 S Sharon Amity Road
Charlotte, NC 28211
https://www.toymaniausa.com/
 
When my kids want to go to the toy store, Toy Mania is the place we go.  This locally owned store is in the Cotswold Village in South Charlotte. 

Not only do they have a great selection, but they offer a lot more than just toys.  They have crafting events, Lego competitions, and even music classes.  This is a must-stop for me when shopping for children's gifts in Charlotte.
Frank’s Pick: 
Paper Skyscraper
330 East Boulevard
Charlotte, NC 28203
paperskyscraper.com
 
Paper Skyscraper is the best local and independent gift shop in all of Charlotte in my opinion.  The store features tons of Charlotte centric items like scented candles named after neighborhoods, and books on the top 100 places to visit in Charlotte, but that isn't all.  It is a place to buy unique cards, small toys, unique cooking utensils and instruments, and everything gift related.
 
Posted in Best Of Charlotte, Market Updates
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Nov. 20, 2020

11-20-20 Charlotte Real Estate Update

Monthly Real Estate Update

October continued to be busier than the calendar normally suggests.

Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. 
 
Best Outdoor Area
Michael’s Pick:
U.S. National Whitewater Center
5000 Whitewater Center Pkwy
Charlotte, NC 28214
https://usnwc.org/
 
The activities at the Whitewater Center are vast compared to what their name implies.  This is a year-round outdoor haven for rafting, kayaking, rock climbing, mountain biking, and hiking.  They have their summer concert series which is always a hit and in the winter they feature ice skating from November to February.

I appreciate that the park sells season passes for $219 for adults, and $189 for children 9 and under.

This is a great day with the kids, or by yourself, and a true must-see in Charlotte.
Frank’s Pick: 
Freedom Park
1908 East Boulevard
Charlotte, NC 28203
Freedom Park
 
At just over 98 acres, this is Charlotte's largest park, and by far my favorite.  The main walking path leads around a 7 acre lake with a island in the middle with a bandshell for concerts.  But there is so much more that goes on at the park including four baseball fields, 12 tennis courts, four soccer fields, playgrounds, and a full basketball court.  
 
The park will not be hosting their annual Festival in the Park in 2020, but it is one of the largest and best events in Charlotte.  Here is hoping it is back in full swing in 2020.
 
Search Homes in the Charlotte Metro and Surrounding Areas at CLTREA.com
 
Posted in Best Of Charlotte, Market Updates
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Nov. 12, 2020

11-12-20 Charlotte Real Estate Update

 

Analysis of Available Town Homes and Condos in the City of Charlotte

Many factors have influenced the significant amounts of town homes and condominiums being built within the City of Charlotte over the past year including land prices, lack of inventory, and overall demand.  Today we take a look at some of the statistics around what is available in the market today:
  • There are currently 630 Active Condominiums and Town Homes for sale in Charlotte, NC as of today
    • 377 of the homes are resale
      • The average resale home was built in 1995
    • 253 of the homes are new construction
      • Status varies between completed homes and proposed construction
  • Pricing
    • Average Pricing of All:
      • $499,711
    • Average Pricing of Resale Only: 
      • $428,491
    • Average Pricing of New Construction
      • $605,838
    • Highest Price of a Listed Home:
      • $3,029,000
        • Home is located in the Regent at Eastover
    • Lowest Price of a Listed Home:
      • $79,900
        • Home is located in Montclaire South
    • Average Price Per Square Foot:
      • All
        • $263.78 per square foot
      • Resale
        • $262.09 per square foot
      • New Construction
        • $266.31 per square foot
          • Prices ranging from $108.96 a square foot all the way to $763.16 a square
  • Square Footage
    •  Average Square Footage of All:
      • 1,840
    • Average Square Footage of Resale:
      • 1,586
    • Average Square Footage of New Construction:
      • 2,218
  • HOA Fees
    • Average HOA Fee:
      • $303 per month
    • Highest HOA Fee:
      • $1,800 per month
    • Lowest HOA Fee:
      • $50 per month
There is no doubt new construction is focusing on much larger condos and town homes, 40% larger than the average resale home.  For buyers who have struggled to find something that fits their needs, I would especially recommend reviewing new construction with it being 40% of the available inventory today.

For a list of available condos and town homes in your area, please feel free to contact us at Sales@CLTREA.com
 
Best Place to Work on the Go:
Michael’s Pick:
The Common Market - Oakwold
4420-A, Monroe Rd
Charlotte, NC 28205
https://commonmarketisgood.com/oakwold/
 
The Common Market is one of Charlotte's most popular local gathering spots.  It is a convenience store, a bar, a restaurant, and most of all it is purely Charlotte.  If it is good and local, they have it for sale.

There are a few locations around Charlotte but the Oakwold CM has good parking and plenty of room to sit with your laptop and get through a few emails, drink a kombucha, or have a snack.
Frank’s Pick: 
Optimist Hall
1115 N Brevard St
Charlotte, NC 28206
https://optimisthall.com/
 
Optimist Hall opened in 2019 and instantly became one of my favorite spots in the city.  Long wood benches, outdoor seating, and food and drink stalls line the renovated warehouse today.

Covid has dropped the overall crowds that packed the hall at first, but it certainly hasn't stopped it.  Optimist is still open daily until 9:00 PM and the free Wi-Fi, great food, and significant parking make it a great work on the go destination.
Posted in Best Of Charlotte, Market Updates
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Nov. 5, 2020

11-5-20 Charlotte Real Estate Update

 

For the week ending Oct. 24:

  • New Listings increased 3.1% year-over-year to 1,179
  • Pending Sales increased 29.5% year-over-year to 1,225
  • Inventory decreased 48.2% year-over-year to 5,453
Freddie Mac reported that the 30-year fixed-rate mortgage hit a new all-time low this week, dropping to an average of 2.8% with .6 points. Record-low rates, coupled with continued strong buyer demand seen in recent months, should continue to support an active market in the coming weeks in what is normally a slower time of year.
 
Favorite Local Small Business:
Michael’s Pick:
The Culture Shop
1425 Kennon St
Charlotte, NC 28205
thecultureshopclt.com
 
The Culture Shop is located in the Belmont neighborhood just outside of Uptown Charlotte and is a wine and cheese shop that features local items, specialty foods, small-batch delicacies.  It also carries wine and beer, including many of local brewers. 

The shop is new in 2020 (yes, they were one of the few new business who opened during COVID 19), but has already become a destination for cheese lovers.  Their charcuterie case is incredible and filled with local options.  The shop also makes sandwiches, curated meat and cheese boards, and incredible gift baskets.
Frank’s Pick: 
South End Auto Inspection
2321 South Boulevard
Charlotte, NC 28203
http://southendautoinspections.com/
 
A yearly car inspection is mandatory in North Carolina.  It is a thankless task where the best case scenario is you get to pay taxes on your property afterwards, and worst case you have expensive repairs to make before you can pay those taxes.

South End Auto Inspection makes this mundane task as painless as possible.  A friend recommended them to me when I moved here, and I have got my car inspected there every year since.  I have never made an appointment. I have never waited more than 15 minutes for my inspection to be completed.  They are fast, efficient, and inexpensive.  I can't recommend them enough.
  
 
How to Reduce Stress When Moving with Children

Moving is stressful for adults.  For kids, it can be scary.   From your child’s perspective you are asking them to leave their home, school, and friends.   To help create an easier transition, follow these four tips:

1:  Be Upfront With Your Children
Let your children know where the family will be moving and when the move will take place. It helps to keep their lives as predictable as possible and their regular routines and schedules will provide comfort. Also, involving children in the process can help them feel that they have some control over their situation. Ask them lots of questions about their feelings and opinions. Some children may even like to read books about moving.    I recommend the following books:
  • Moving House by Anne Civardi (Preschool)
  • Alexander, Who’s Not Going to Move by Judith Viorst (K-3rd grade)
2:  Confidence, Not Fear
Many children fear that their belongings will be lost or thrown away when moving. While packing is a good time to get rid of unnecessary things, it is not a good time to do so with your children's things. Reassure them and let them help with the packing.  Let smaller children color on their own boxes so they can identify them easily.   Keep important things like favorite blankets, toys, and books unpacked.  Make sure they know that their new bedrooms will have the same furniture and familiar items as their old bedrooms. A really great tip is to have the moving company load the children's boxes last so they'll be the first off the truck.

3:  Get Some Closure
Children often worry about keeping in touch with friends or loved ones they leave behind. Discuss ways they can keep in touch with their old friends. Give them plenty of time to hang out with important people they will miss or see less as a result of the move. A farewell party can be a great way to help kids say hard goodbyes to those people.

4: Go Exploring Your New Neighborhood
Another way to alleviate anxiety is to help children get to know their new home. If possible, visit your new neighborhood and find parks, playgrounds, or other features that might be fun.  Show them the new house and the school they will attend. Some schools will offer the opportunity to meet the teacher or principal in advance. If you can't schedule a visit before moving, the internet is a great tool. Find pictures and area maps online. You can also take virtual tours of your new home.  Show them their room and help them plan how they will decorate when the move into the new home.
Posted in Best Of Charlotte, Market Updates
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Oct. 27, 2020

10-27-20 Charlotte Real Estate Update

For the week ending October 17:

  • New Listings increased 5.0% year-over-year to 1,187
  • Pending Sales increased 29.8% year-over-year to 1,236
  • Inventory decreased 48.6% year-over-year to 5,421
Rules on Selling a Haunted House
In North and South Carolina, a Haunted House is NOT considered a material fact. However, a haunting can be defined as a "Thing of Specific Importance". In other words, if the buyer specifically asks whether the house is haunted or not, a seller should definitely disclose it. But if you’re buying a home and it’s paranormal status concerns you (key spooky music) you should definitely ask!
 
My Charlotte Real Estate Agents Recommendation:
Best Cheap Eats in Charlotte
Michael’s Pick:
Price's Chicken Coop
1614 Camden Rd
Charlotte, NC 28203
http://www.priceschickencoop.com/
 
Price's Chicken Coop is a South End institution!  Price's has been serving amazing fried chicken and sides since 1962 when it was opened by two brothers in a small brick storefront for takeout only.

Not much has changed since 1962.  They are still takeout only, and cash only.  But the price is right, and the chicken is amazing.
Frank’s Pick: 
The Diamond Restaurant
1901 Commonwealth Ave
Charlotte, NC 28205
http://diamondcharlotte.com/
 
This Plaza-Midwood diner, who recently just reopened after being closed during Covid, was founded in 1945.  It is, as described on their website, "a beacon of good 'ole home cookin and friendly family tradition."

I particularly enjoy eating out on the front patio in the heart of Plaza-Midwood.  
  
Search Homes in the Charlotte Metro and Surrounding Areas at CLTREA.com
 
 
 
Posted in Best Of Charlotte, Market Updates
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Oct. 20, 2020

10-20-20 Charlotte Real Estate Update

For the week ending Oct. 10:

  • New Listings increased 2.7% year-over-year to 1,264

  • Pending Sales increased 30.3% year-over-year to 1,315

  • Inventory decreased 48.3% year-over-year to 5,424

 
 
Coming Soon Listings Available at CLTREA.com!
My Charlotte Real Estate Agents is happy to announce we have added an important new function to our Advance Search Feature at CLTREA.com.  Now, buyers can search for Coming Soon Listings, was well as listings that are already active!

Coming Soon is designated by the Canopy MLS as listings that are not yet available to be shown, but will be hitting the market within the next 21 days.  Why is this important?  In an extremely tight market where current inventory is below two months, any advantage a buyer can get when purchasing their next property is important.  Also, Coming Soon listings are NOT available on Zillow.

To see the Coming Soon listings, just use the Advanced Search option at CLTREA.com, or click HERE for all Coming Soon listings currently in Charlotte, NC.
 
Winter is Coming!
Tips to Winterize Your Home
No, we are not talking about the show with the worst final season in history.  We are talking about the season.  Even with the milder winters in the Carolinas, it’s time to get your house in shape for the cooler days ahead.   Here’s a handy list of projects and services that will help make sure your home stays warm and in working order.
  • Schedule an inspection of your HVAC system
    • Before the onset of cold weather, a professional inspection can spot problems before they become an emergency.
    • Make sure you change your heating system filters on time.
  • Prepare drafty windows for winter
    • Along the outside edge of the window frame, inspect the sealant. If it's old, yellowish, and starting to shrink, use a putty knife to scrape it off, then replace it with a new line of exterior caulk.
  • Inspect the weather-stripping around exterior doors
    • If the stripper is torn or worn, remove it and replace with a new one at a home improvement store.
  • Reverse the rotation of your ceiling fans
    • Your fan has a switch to change the direction of rotation. A counterclockwise turn provides a cooling breeze for the summer, while a clockwise turn brings warm air back to ground level.
  • Protect faucets and pipes.
    • Faucets that run from exterior walls should be foam wrapped and covered with Styrofoam cover. The water pipes should be drained and stored in the garage or shed. Outdoor water pipes leading from the ground should be wrapped in foam.
 
My Charlotte Real Estate Agents Recommendation:
Best Local Restaurant Outside of the 485 Loop
Michael’s Pick:  Kindred
131 N Main St
Davidson, NC 28036
https://kindreddavidson.com/
 
Kindred is named after Chef Joe Kindred, a four-time James Beard Award Nominee for Best Chef in the Southeast.  The restaurant focuses on innovative farm-to-table dishes and craft cocktails.

This is a Father’s Day tradition for the Wong Family, and one of the best Restaurants in the entire region, let alone the Charlotte area.  Reservations are tough, but worth the wait.
Frank’s Pick:  Jake’s Good Eats
12721 Albemarle Rd
Charlotte, NC 28227
www.jakesgoodeatsnc.com
 
Jake’s Good Eats is not the high-end special occasion restaurant that Kindred is for most people.  It is just great home-style southern cooking located in a former gas station on Albemarle Road. 

The restaurant has been featured on Diners, Drive-Ins and Dives on the Food Network, and has been a common stop for years for Frank on his way home from visiting family in Pinehurst. 
 
 
Posted in Best Of Charlotte, Market Updates
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Oct. 12, 2020

10-12-20 Charlotte Real Estate Update

Canopy Releases September Sales Results

As the weather continues to cool, real estate activity slowly cools along with it. While buyer activity is following its normal seasonal trend lower, it remains substantially higher than the same time last year, continuing a months-long trend. Strong buyer demand continues to draw down the available inventory of homes for sale at a rapid pace, leaving buyers with fewer homes to choose from and many sellers with multiple offers.
 
MICHAEL WONG ELECTED TO CANOPY REALTOR® BOARD OF DIRECTORS
Michael Wong of My Charlotte Real Estate Agents at Fathom Realty was elected by his fellow REALTORS® in the Canopy Realtor® Association to serve on the Board of Directors in 2021!  This is a huge honor and the team at My Charlotte Real Estate Agents is extremely proud of Michael and his accomplisments! 
Posted in Announcement, Market Updates
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