LOVE IS IN THE AIR: WEEKLY UPDATE 2/14/25
The rain has subsided and only love is in the air. ?
If I really wanted to get festive I would say something like…roses are red, violets are blue, if you don’t love your house… I’ll find one for you!? Then again if I ever said that I’d have to place myself into exile for being so cheesy.? Instead I’ll just wish you a Happy Valentines Day, and here are the 3 things you need to know this week.?
ZIP Fizz: In 2024 homes sold faster/fewer days on market (on average) in 10 of the 30 Mecklenburg County ZIP Codes.
What ZIP codes sold faster in 2024?? 28269 (Highland Creek) led the way, followed by 28105 (Matthews), 28270 (Sardis Forest/Providence Plantation), 28227 (Mint Hill), 28104 (Weddington/Stallings), 28217 (Yorkmount), 28209 (Myers Park, Ashbrook, Sedgefield), 28262 (University Area), 28036 (Davidson), 28216 (Northwest of uptown between Brookshire Blvd & I-77). Interesting to note; 18 of the 30 ZIP codes sold faster last year (2024) than in 2019.
It’s Not If but When: The average homeowner spends over $6,000 per year on regular maintenance and unexpected repairs.
And yet, studies show 59% of homeowners wouldn’t be able to cover a $5,000 repair without taking on debt. The HVAC dies in the middle of summer, roof starts leaking after a storm, what’s the game plan? Set aside 1-3% of your home’s value each year for repairs, start small—automate a little each month into an emergency fund, have a list of trusted vendors ready before disaster strikes. If you need any home repairs—big or small—let me know. I can connect you with vetted pros who will take care of the job with quality at a fair price.?
Brick by Brick: The average sale price of a new construction single-family home in 2024 was $665,298.?
According to the National Association of Home Builders construction costs accounting for $428,215 of that total. This marks a 3.2% increase in sale price and a 9.2% rise in construction costs compared to 2022. The top 3 construction expenses on average in 2024; 1- framing (including roof), 2- excavation and foundation (concrete, retaining walls, backfill), 3- electrical.? Factors like rising material costs and labor shortages have contributed to these increases.
I hope you all have a lovely weekend and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.
Steve