HOW CHARLOTTE, NC BECAME MINT: WEEKLY UPDATE 1/31/25

Charlotte was home to the first gold rush in the U.S., decades before California.  In 1799, 12 year old Conrad Reed found a 17-pound gold nugget on his family’s farm in Cabarrus County.  This was the first documented gold find in the U.S. and led to the opening of the Charlotte Mint in 1837 which produced thousands of gold coins until the Civil War. In fact, miners once found so much gold in the area that city streets were said to be paved with it, traces of gold can still be found in the area today, and here are the 3 things you need to know this week.

Zip it: Of the 30 zip codes in Mecklenburg County, 63% experienced an increase in home sales in 2024 compared to the previous year. According to Canopy MLS, the top ZIP code was 28203 (covering South End and Dilworth) with a 26.8% surge in home sales in 2024 compared to 2023.  There were three other ZIP codes that also saw double-digit growth: 28206 (Camp North End and Optimist Hall area) was up 21.1%, 28262 (University area) up 20.9%, and 28104 (small slice by Matthews) up 16.7%. These trends highlight a strong rebound in key areas of the county, but there were seven ZIP codes that experienced a double digit YOY drop.  The 3 ZIP codes with the largest annual decline include 28227 (Mint Hill area) down 19.9%, 28273 (Steele Creek and Yorkshire areas) down 25%, and 28204 (Elizabeth area) down 42.9%.

Isn’t She Lovely: Affluent women are one of two powerful demographics reshaping luxury real estate.

By 2030, women will control a major share of the $30 trillion wealth transfer—reshaping how luxury homes are bought, sold, and valued. Key drivers behind this shift include. Women as Wealth Holders: They are expected to control much of the financial assets being passed down by baby boomers. Primary Breadwinners: More women are leading household finances and making key investments in real estate. Rise of Female Entrepreneurs: Women in tech, finance, and other industries are creating new pathways to wealth. Single women outpace single men in homeownership across all 50 states, viewing luxury homes as both lifestyle assets and investments. The other demographic having a similar impact on luxury real estate is Gen X.

Meek Mill: Just 21% of millennial home buyers think it’s possible for their generation to buy a home, down from 52% who thought the same a year ago. According to recent data from realestatewitch.com millennials have made significant changes to their thinking and optimism around home buying within the past year.  A few more stats: 44% are concerned about affordability, up from 35% in 2024. 56% would still offer over asking price, but that’s way down from 79% in 2024.  57% are open to fixer-uppers, but 1 in 8 who bought one regret it.  41% would buy a home with pests or asbestos just to own, but 60% refuse to live near their in-laws!

I hope everyone has an amazing weekend and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.

Steve