2022 HOUSING MARKET: Are Home Prices in 55+ COMMUNITIES of Greater Charlotte NC STILL AFFORDABLE?
2022 Housing Market, Are home prices in 55+ communities of Greater Charlotte NC still affordable? What are the causes of rising home prices? What would be the prices of new homes versus resale homes in 2022? These are great topics that I will be talking about in this video, so stay tuned.
Let’s break homes in the 55+ communities into 2 groups. First, are the existing homes or what we call resale. They are homes that are owned and/or occupied before coming onto the market. Second, are the new build or new construction homes. They can be builder’s quick move-in or inventory homes where the builder has already picked the lot, structural and design studio options. Or new homes are to-be-built, where buyers can pick the lot, structural and design studio options.
So let’s do a recap. In 2021, the average price per square foot of a new build was $216/square foot, while resale was $213/square foot. This year, 2022, the average price per square foot of homes in a 55+ community is currently $237 per square foot for new homes and $229 per square foot for existing homes. If you are thinking of building a home in a 55+ community with at least 2,000 square feet, be prepared for a price tag of under $500,000.
We have buyers asking if home prices in 2022 specifically in 55 plus or active adult communities will be coming down in 2022? We hope so, but I’m predicting it will be in the upward direction instead.
If you have any questions about where to find homes in 55+ or active adult communities whether you’re interested in new homes or resale, please don’t hesitate to contact us today.
My name is Lynn Alvarez and my partner/husband, Albert Alvarez with The Ally Group Real Estate in Charlotte North Carolina. We specialize in 55+ or active adult communities in Greater Charlotte. If you find this video helpful and will watch again, please make sure to subscribe to our channel by clicking on our photo. Thanks so much for watching. I will see you on my next video. Take care now.