Whats Hot Whats NOT in Charlotte Neighborhoods 2014
Terry’s Top HOT Twenty Subdivisions in Charlotte | 2014 Edition
I’m often asked the question, “How is the re-sale value here?” and it is usually a combination question …” Are Prices going Up? If I had to sell, how easy (hard) would it be? This roughly relates to my TERSCORE© a proprietary composite score measuring increased sales (units), increase in prices ($/sf) and a measure of velocity, the number of sales in less than 30 days in 2014. Ranked on a 100 point scale, where over 100 is sizzling hot, 90-100 is very hot, and above 80 is still outstanding. So far, this is our best measure of that very relative term, “Re-Sale Value.”
All of our data is derived from the Carolina MLS, we searched a wide area. We reviewed more than 80 area subdivisions with at least 10 sales, average home values between $100,000 and $800,000. We evaluated the data based on 3 criteria, the top subs had increases in units sold and increases in home prices, the percent increase. We then looked at what percentage from that neighborhood sold in UNDER 30 Days in 2014 We assigned weights to each value to come up with our TERSCORE©
Those with a TERSCORE over 80 would be quite compelling, neighborhoods with excellent re-sale, above 60 good re-sale. But there are many good neighborhoods below that, so this is just one data point. This is our 2nd year with TERSCORE, there are some comparisons to 2013 below, but there are many of the usual suspects. 🙂
Top HOT Twenty Subdivisions
|The Arts District||112.5|
|Sun City Carolina Lakes||86.3|
Overall the pace of increase in both sales and prices slowed in 2014. Where 2013 just blew out 2012, the Top Ten gains in 2014 were lower than’13 but still strong at a27% increase in volume, unit sales increased 4%, but the pace of sales, the relative Hotness of our TOP 10, increased from 35 to 40%. The Best homes in the best neighborhoods sell FAST!
Regionally, south Charlotte was still the “winner” with 6 of the Top 20 Communities, 4 from Union County, 5 from the Huntersville-Cornelius area, and 2 from the top of Lake Norman, two popular communities where we counted only the sales below $800,000 at the Pointe and the Farms.
As the economy continues to rebound, Charlotte continues to add new jobs offering a steady upward push on demand. We like that!
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