Close to Home: Charlotte and North Carolina sales stay strong

By Noelle Knox, USA TODAY

Charlotte has one of the nation's healthiest real estate markets. Sales are strong elsewhere in North Carolina, too. Statewide, sales were up 10% the first five months of the year compared with the same period in 2005. Sales nationally were down 6% in that time.
Charlotte's downtown population is expected to double in four years. Eleven high-rise condominium projects are underway. One will be built atop an entertainment complex with movie theaters and restaurants. When pre-sales began last month, prospective buyers stood in line for eight hours to sign contracts, not even knowing what final prices would be.

Charlotte was founded at the intersection of two Indian trading paths. Today, the city is the second-largest banking center in the USA (after New York) and home to Bank of America and Wachovia. In recent years, the area has been drawing buyers from New York and Florida, says Scott Sadler of Re/Max Executive Realty.

Homes in Charlotte's pricey historic district usually sell within a week. Other strong areas include Southpark, known for its shopping mall, and Ballantyne, known for its country clubs.

Blue-collar sections east and west of downtown are typically weakest, but sales are about 3% ahead of last year, Sadler says.

The most expensive
This three-story home sits on 4.7 acres.

Price: $6,999,900
Bedrooms: 5
Bathrooms: 6 1/2
Size: 11,279 sq. feet
Features: Swimming pool, hot tub, tennis court, three-car garage, fireplaces in den and master bedroom, media room, recreation room.


Median-price home
This two-story home was built in 2001.

Price: $219,900
Bedrooms: 4
Bathrooms: 2 1/2
Size: 2,180 sq. feet
Features: Den, gas fireplace, upstairs laundry, two-car garage.