Mint Hill – One of the Nation’s Hottest Suburban Areas
Realtor.com recently analyzed the nation’s 50 largest metro areas, classifying ZIP codes as either suburban or urban. Suburbs were then ranked in three main areas:
- household growth
- isting price growth
- housing supply and demand
Close proximity to thriving urban centers and strong household growth are driving factors for the outstanding suburban areas. The Mint Hill suburb (ZIP code 28227) made the list at #12. This east Charlotte suburb is located only about 12 miles east of Uptown and is, indeed, rising in popularity among our relocation buyers.
The study revealed that households in Charlotte’s 28227 ZIP code, had grown 13.9% since 2010. Sales prices have increased 18.9% and homes for sale in the Mint Hill location were only on the market an average of 55 days – a pretty strong market for a suburban area.
“Suburbs are traditionally viewed as meccas for young families, willing to trade in shorter commute times and urban nightlife for better schools and larger homes,” Jonathan Smoke, chief economist for Realtor.com, said. “But the relationship between the suburbs and urban areas is far more intertwined. In recent years, rising home prices and inventory shortages in urban centers have made affordable suburban home prices more appealing for buyers. Our analysis indicates 50% of buyers planning to purchase a home this spring indicated they preferred a home in the suburbs.”
The Charlotte Metro region was among the top markets with major suburban growth in the Realtor.com report. Mint Hill’s sales were up 2.5% year-over-year and are at a record pace as per the following interactive graph.
While metro Charlotte’s urban market grew at an annual rate of 5.1% during the past 3 years, the Metro’s suburban area sales increased 12.1%. If you’re looking for a home in the city or in the ‘burbs, give us a call – we know this area and would love to give you the grand tour! Call or text (704) 491-3310 or email Info@TheMaxwellHouseGroup.com
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | Mint Hill – One of the Nation’s Hottest Suburban Areas