A SALUTE TO THE REAL HEROES

As we head into Memorial Day weekend Charlotte, NC played a role in supporting American troops through some of our nation's toughest battles. 

Did you know Freedom Park was established by the Mecklenburg County Lions Club after World War II and serves as a living memorial to veterans. The park offers a serene environment and embodies the spirit of remembrance associated with Memorial Day. Charlotte's Camp Greene (located in the Ashley Park neighborhood) served as a major training base for U.S. troops during World War I. Camp North End was repurposed during World War II into a U.S. Army Quartermaster Depot supplying military facilities across the eastern United States. Later, during the Cold War, it became a missile assembly plant, producing Nike Hercules missiles.  Here are the 3 things you need to know for this week. 

Shark Bite: As housing inventory jumps 30.6% YOY, Barbara Corcoran states “uncertain markets are the best time to buy!”

Even as home listings are up YOY; as a result of economic uncertainty, pending home sales are down 3.2% from last year. Shark Tank celebrity (and real estate brokerage owner) Barbara Corcoran suggests that despite market uncertainty, it’s still a good time to buy.  Her rationale for this is: “It’s when I always buy real estate. There’s less competition, and the seller is more likely to reconsider the offer they turned away yesterday. Shopping for a good deal is easier.”  To that point, the Charlotte, NC Region inventory is up over 42% YOY and Sellers on average are receiving 96.1% of their original list price…not including additional concessions or credits.  All indications to sellers being more negotiable than in years past. 

Boom & Bustle: Charlotte, NC continues to boom adding the most residents of any city in the Carolinas and the sixth-highest in the nation.

From July 1, 2023 - July 1, 2024 Charlotte, NC added over 23,000 new residents in 2024——pushing the population to around 943,500 representing a 2.5% increase.  Several surrounding towns outpaced the Queen City in percentage growth. Fort Mill led the pack with a 7.7% surge, followed by Monroe and Statesville at 5.5% and 4.6%, respectively. Even smaller communities like Shelby, Huntersville, Cornelius, Matthews, and Mint Hill saw sharper % growth; this highlights the region’s broad and accelerating appeal.

Slow Lane: The median listing price per square foot increased by 0.3% compared to the same time last year.

This marks the slowest year-over-year growth since September 2023.  Overall the national median listing price fell year-over-year last week; this after nine consecutive weeks of either flat or rising prices.  Affordability (mainly driven by combination of current rates and prices), along with growing concerns about personal finances and job security, continue to be the primary hurdles for many buyers, and has dampened demand.  

I wish you and yours a fun and safe weekend full of appreciation, observance, and respect for those who’ve preserved and shaped the amazing life of freedom we all enjoy today.  Remember; we’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.

Happy Memorial Day!