Real Estate

This category contains 73 posts
18502 Green Knoll Trace in River Run has sold for $890,000

2017 looks like more of the same: Tight inventories, rising prices

Residential resale prices are up 5.6 percent year over year in Charlotte, a little less than the national average, but a strong showing nevertheless. Charlotte has traditionally seen more moderation around highs and lows than cities like San Francisco or Miami. The national average for December 2016 over December 2015 was 5.8 percent. According to […]

CanonHouse1

Rising interest rates will have less impact on luxury market

Competition for homes has driven Charlotte area median home prices up from less than $180,000 three years ago to something north of $210,000 depending on where you are. Meanwhile, interest rates are climbing. Pat Riley, CEO of Allen Tate, says mortgage rates could climb another two points in the next couple of years. Thirty-year fixed […]

Demonstration Project Rendering

Construction in downtown Kannapolis to begin this fall

  Jan. 24. Lansing Melbourne Group will buy 3.81 acres in downtown Kannapolis for $1.64 million and spend approximately $60 million to construct residential units, a hotel and retail space. The deal, which was approved by Kannapolis City Council Monday night, is part of the Demonstration Project that is expected to transform and revitalize downtown, adjacent to […]

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Managing growth in classic small town can be ‘messy’

By Erica Batten. Is Davidson’s small-town charm at risk? Mayor John Woods projected that Davidson’s current population of roughly 12,000 will double in the next four decades, consistent with the rest of Mecklenburg County “Our greatest challenge is managing the effects of change while protecting our small-town character,” Woods said. The consequence of getting it very […]

Volume rises at Allen Tate

Jan. 16. Privately held Allen Tate Co. says closed sales volume rose to $5.45 billion in 2016, compared to $5.16 billion in 2015. Units rose in similar fashion, from 21,565 in 2015 to 22,194 last year. Allen Tate President and CEO Pat Riley said steady growth helps normalize and sustain the market. Low inventory will […]

$14 million expansion in Huntersville for Pactiv plant

Dec. 6. Prairie Brookwood is building a 324,480-square-foot warehouse expansion for tenant Pactiv LLC in Huntersville. The $14 million expansion more than doubles the size of Pactiv’s round-the-clock facility. Pactive, which makes food service disposables and food packaging, will gain 35 new loading docks. The company has more than 11,000 employees in seven countries. Prairie […]

21324 Olde Quarry Lane in Cornelius sold for $775,000

Baby Boomers at root of move-up bottleneck

Curious what the Baby Boomers have been up to? Not much, when it comes to their homes. Baby Boomers are laying low and staying put, many in homes they have lived in for more than a decade. Because Baby Boomers are healthier and living longer lives, they are choosing to downsize much later than previous […]

featured_collegeconstruction

Construction is booming at local colleges, universities

By Katie Piccirillo Sherman. UNC Charlotte has launched a $200 million capital campaign, the largest in its history. The “Exponential” campaign will fund new buildings and renovate existing structures. Colleges coast to coast are breaking ground on state-of-the-art facilities. Vicki Saville, Central Piedmont Community College’s associate vice president for construction, says CPCC enrollment has grown 37 […]

Workers line Marigold Place in the Blume subdivision in Harrisburg, NC.  150 homes have been built since construction began in 2013.  With 297 lots planned multiple homes are under construction with lots selling quickly. Photo by Marty Price

Harrisburg is a boom town for homebuilders large and small

By Marty Price. Nationally, new home sales have risen to the highest levels since 2007, but they’re still below the peak level of 1.39 million units in July 2005.  July was the first month that the rate exceeded 600,000 since early 2008. Before the recession, the last full year below that mark was in 1991. “Home […]

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Basketball star Nic Batum buys Cornelius mansion

One of the biggest names in Charlotte sports has purchased one of the biggest lakefront homes in Cornelius. Hornets star Nicolas Batum paid $3.725 million for a 10,000 square foot estate on Nantz Road, according to Mecklenburg County tax records. On July 7, Batum re-signed with the Hornets, inking a five-year, $120 million contract. It’s bigger […]

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