lake norman real estate

Charlotte NC: Is the cat out of the bag?

View of Charotte Skyline

I first discovered Charlotte about 3 years ago while surfing the internet testing real estate websites. Until then I knew nothing about Charlotte, or for that matter, North Carolina. When we moved to Mooresville we thought we had found the country’s best kept secret; apparently I was wrong:

  • US Population Shift continues to favor West and South….North Carolina was ranked 5th in the US for net domestic migration
  • North Carolina passed New Jersey to become the nation’s 10th most populated state
  • Charlotte area: Between the years 2000-2006 added 300,000+ population
  • Charlotte was the 7th fastest growing metro areas from 2005-2006 in the US. (1.58 million)
  • While there were some birthrate increases, most of the population increases came and continues to come from newcomers :

Newcomers to Mecklenburg County (Charlotte) from:

* Queens NY: 2,104

* Los Angeles: 1,907

* Fulton GA: 1,864

*Carbarrus County: 10,555

*Union County: 9,436

*Gaston County: 8,521

Newcomers to Lake Norman:

*Suffolk NY: 294

* Broward FL: 194

*Los Angeles CA: 170

*Mecklenburg County: 6,621

*Rowan County: 2,022

*Catawba: 1,852

  • According to the Housing Predictor Independent Real Estate Market Forecasts: Charlotte was ranked 24th with a predicted 2007 median price gain of 5.2%
  • “Census confirms what we all know: Iredell and Mecklenburg populations up at least 19% since 2000, ranking them 10th and 11th respectively among 100 NC counties” (3/25/07 Charlotte Observer) Counties surrounding Lake Norman saw some of the fastest population growth in the state since 2000.

While there are many exciting new developments in the heart of Charlotte, there are 5 that stand out as being particularly unique and exceptional:

  1. Donald Trump is looking at South Tryon for a development of luxury condos, a 5-star hotel and high-end retail shopping
  2. The Rizt-Carlton Residences are the centerpiece of their “Quail Hollow Village at Seven Eagles” which will also include shops, restaurants, fitness, healthcare, banking and other conveniences:
  3. Wachovia First Street Cultural Center in Uptown Charlotte “will bring together natural space, culture and innovative urban architecture.” It will include new venues for art and live performances as well as retail and residential. It’s projected completion is 2009.
  4. The next high-rise residential building in Uptown Charlotte will be the most exclusive yet with 99 residences from $1.5 million to $10 million in a 40-story tower at College and Stonewall (across the street from the Trump block under consideration).
  5. Charlotte won a hard-fought battle to be the home of NASCAR’s HALL of FAME

I guess I wasn’t that clever to discover how wonderful the greater Charlotte /Lake Norman area is after all! While I chose to live in Mooreville on Lake Norman it is great to have Charlotte so close by. Now the only thing we are really lacking is a Trader Joes and they are opening two stores in Charlotte in the next year or so!
Thank you to The Charlotte Observer the for most of my statistics!

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