In the News – Wildwood “Affordability with Proximity” – My Home Leasing News Updates

Community Spotlight –  Wildwood – Affordability with Proximity

Charlotte’s growing pool of potential buyers has recently turned their attention to Wildwood, a community about 10 miles west of the city center.  As a neighborhood deemed “relatively affordable,” it has a median sales price of $191,000 versus the Charlotte metro area’s median price of $259,900.

Lack of inventory has caused people seeking single-family homes for personal use or investment to search in areas outside the city center.  Proximity to the airport and lack of toll roads is a plus.

In general, the Southeast is becoming more attractive for corporations to set up shop, driving housing prices up and creating a dynamic real estate market.  Many forecasters also predicted that Charlotte will be one of the leading cities in the nation in home-price growth this year.

Continued growth and job opportunities drive newcomers to Charlotte, and many are priced out of homeownership in other metropolitan cities.  Wildwood is just 15 minutes from downtown Charlotte. Unique, desirable homes are under $250,000.. New developments under construction nearby will include townhomes, shopping, and entertainment.  The US National White Water Center is only 2 miles away.  The airport is only 5 miles away.  It’s an affordable, convenient location prime for more development.

In Wildwood, 35.7% of homes sold above list price in 2019, and homes there spent a median of 32 days on the market.

Wildwood provides an affordable option for investors interested in leasing a property with positive cash flow while benefiting from the rapid increase in property values year over year.

Submitted by Laura Grant