Jump to content

monsoon

Who is going to buy all the Condos, (Part II)

Recommended Posts


The title of this thread is a bit funny to me, because not having seen it from the beginning, I see Charlotte as not having any condos to buy! Its all apartments. So the thought of 'who will buy all the condos' seems odd to me as I think "What condos??".

  • Haha 4

Share this post


Link to post
Share on other sites
2 hours ago, t_money said:

The title of this thread is a bit funny to me, because not having seen it from the beginning, I see Charlotte as not having any condos to buy! Its all apartments. So the thought of 'who will buy all the condos' seems odd to me as I think "What condos??".

I am pretty sure condos would actually be snatched up fairly fast if a lot went onto the market. 

  • Like 2

Share this post


Link to post
Share on other sites

Heard Fulcrum condos on S Tryon in Southend are having some delays but still should be built.

Which cities are attracting millenials renters?  of course Charlotte #6 on this list based on % of that age group renting.

1-5 to save you the slideshow are SEA, SFO, AUS, HOU, SATX 

15 Most Popular U.S. Cities for Millennials | National Real Estate Investor (nreionline.com)

  • Like 3

Share this post


Link to post
Share on other sites

This is interesting.  This shows the breakdown of home/condo prices in the Charlotte market and only one is showing downward pressure and that is uptown Charlotte.  all other submarkets in the last 10 months have increased prices. 

As Charlotte-area home prices keep rising, these areas are leading the growth - Charlotte Business Journal (bizjournals.com)

  • Like 2

Share this post


Link to post
Share on other sites
1 hour ago, KJHburg said:

This is interesting.  This shows the breakdown of home/condo prices in the Charlotte market and only one is showing downward pressure and that is uptown Charlotte.  all other submarkets in the last 10 months have increased prices. 

As Charlotte-area home prices keep rising, these areas are leading the growth - Charlotte Business Journal (bizjournals.com)

What is the "Lake Norman" submarket? Huntersville, Cornelius, and Davidson are all listed separately. 

Share this post


Link to post
Share on other sites
1 hour ago, tozmervo said:

What is the "Lake Norman" submarket? Huntersville, Cornelius, and Davidson are all listed separately. 

It used to be classified as lakefront or lake access communities all around the lakes regardless of counties.  That is probably what this is referring to. 

  • Thanks 1

Share this post


Link to post
Share on other sites

3 hours ago, KJHburg said:

This is interesting.  This shows the breakdown of home/condo prices in the Charlotte market and only one is showing downward pressure and that is uptown Charlotte.  all other submarkets in the last 10 months have increased prices. 

As Charlotte-area home prices keep rising, these areas are leading the growth - Charlotte Business Journal (bizjournals.com)

So does this make housing in uptown more attractive than other submarkets ("its cheaper!") or less attractive ("its a bad investment!")?

Its a genuine question, people seem to view real estate differently than any other commodity and I am not sure I understand why.

Edited by kermit

Share this post


Link to post
Share on other sites

One other thing I thought about this is that only the lower priced condos are selling which would also bring down the average price uptown.  

any way I feel this will correct soon enough.  

I just checked 174 homes and condos (and yes there are a few SF homes in 28202 zip code) have closed in the last 6 months.

Quick Statistics  $146,000  Lowest price sold ,     $1,275,000   Highest price sold  ,  $332,094    average price ,    $285,000,  median price  and that is last 180 days in a quick MLS search.  

Lowest price in the Silos Loft highest price in a penthouse in the Avenue 

  • Like 3

Share this post


Link to post
Share on other sites

The latest report out shows Charlotte at 13th for new apartment starts during 2020 which is not bad.  I am tired though of CLT playing 2nd fiddle to Nashville.  They were like #10 on the list and probably will be ahead of CLT for some time due to Amazon and other business relocations.  I guess bigger isn’t always better...

Edited by Hushpuppy321
  • Like 1

Share this post


Link to post
Share on other sites
2 hours ago, RANYC said:

Charlotte is a great town, but no offense, it is in no way a destination city.  Nashville is on people's radars as a place many of them really want to visit, even when they have no family here and no business here.  Charlotte simply isn't that kind of place, as far as I can tell. 

We lack a bustling, vibrant, nationally-renowned go-to district containing any sort of dense, WALKABLE, corridor of an ABUNDANCE in entertainment and indulgent offerings/venues.  Sorry, but South End isn't even close and so far, no part of South End is even branded as having that.  South End is great for local needs, but no one is taking flights to Charlotte strictly to take in South End.  I don't see that changing anytime soon as the city doesn't really want to create a plan around replicating what places like Nashville and Austin have, and perhaps a city plan for something like that really doesn't work...it just has to come about organically.  

Agreed. Charlotte/CRVA leverages the Whitewater Center a lot in their advertising and materials.  And Nascar Hall of Fame (meh). But those don't make Charlotte a destination city. 

The Whitewater Center resonates with me and if I was out of state or hadn't been to Charlotte before, I would incorporate the Center into a Charlotte visit. But would it make me want to visit? Nashville is unique because of the country music/honky tonk vibe that is only rivaled by New Orleans in terms of American cities with unique cultural+musical+drinking identities being THE draw. I'm not including Vegas because it is a playground and lacks authenticity (to me). 

If you want a case study in what TO DO...I think Austin has done a phenomenal job of capturing their city's spirit/essence and marketing it to the masses. When I think of Austin I think of Congress Avenue leading down toward the city, and Zikler Park. And the E. Caesar Chavez area. A burgeoning skyline. What they've been able to market to the masses are simple images that evoke a sense of place. A packed field for SXSW, a brisket coming out of the smoker, cowboy boots walking down Congress. Another example of a smaller market that's kicking our ass in branding is Charleston. 

Charlotte's identity, I feel, is an enigma and we don't have a cohesive voice. And we do a terrible job telling our story, or sharing our identity. If Charlotte was a brand, what would it be? I'm so sick of the Bojangles jokes, etc. But that's what people say. We're a city that so quick to cheer the latest restaurant from another market opening a Charlotte location, that we forget to cheer on and support the homegrown businesses.

The Charlotte I want to visit capitalizes on the following imagery: The light rail pulling into uptown. The Whitewater Center. A rooftop drink at sunset. Around the Crown 10K.  Cranes in South End. Pulled Pork. Yes, Nascar under the lights. Panthers, Hornets, Knights, MLS. Someone busking in Romare Bearden Park. Students at CPCC walking to class while the Gold Line moves past. Someone running along little Sugar Creek. Tubing in the Catawba. An installation at the Mint, exhibit at the Gantt. Street meat on Tryon at lunch time. Optimist Hall and Camp North End. An artist in NoDa. A sign of the times concert or the music factory. Carowinds and the airport. Golf even. 

Our problem is we spend so much time looking at everyone else and how we measure up, that we forget to tell our own story. And so we don't have one on the national scene outside of a nice skyline and banking. 

 

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

^ Charlotte is the Singapore of the South

(its more boring than most places, we (arguably) have above average food*, and its the place where people from the region go to make their fortunes)

* not sure why I said that. I don't think there is much great to eat here these days.

Edited by kermit
  • Like 2
  • Haha 1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.