CHARLOTTE, N.C. — Whoever said good things come to those who wait, never had to buy a home in Charlotte.
- Charlotte's competitive housing market is forcing some to buy properties sight unseen to keep up
- A Charlotte area record of more than 50,800 properties were sold in 2019
- A recent UNC Charlotte report estimates the population growth of the city is more than twice the housing growth
The housing market is so competitive, some families are buying properties sight unseen. 50,854 properties were sold in the Charlotte area last year, according to numbers released this week by the Charlotte Area Realtors Association.
That’s a record for the region.
Some folks moving to the area, like Philip Woodson in NoDa, have resorted to buying a property sight-unseen, only getting a look at the home through FaceTime, photos, or Skype.
“I have a friend in New Jersey now who’s looking to move here and I told him that he should have started 6 months ago,” Woodson said. “And if he sees something to put an offer on it.”
Buying properties without a site visit isn’t uncommon for investors or house flippers. Real estate agent Rachel Demeter said it’s fairly uncommon for typical homebuyers, but she had to do it for several clients in 2019.
“It it is kind of tough for folks just looking for an average house in a neighborhood that’s close to the city,” Demeter said.
According to the Charlotte Area Realtors Association there’s less than two months of housing supply left. Meaning, if all construction stopped, the area would run out of available homes some time in early March.
As we reported recently, a UNC Charlotte report estimates the population growth of the city is more than twice the housing growth.