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Found out a 1968 ranch off Shamrock Drive sold for $185k over asking and I just sat there staring at Zillow
I was messing around on Zillow Tuesday night and pulled up recent sales in east Charlotte out near Shamrock Drive. A 1968 brick ranch, 1,400 square feet, nothing special, listed at $310k and closed at $495k. I checked the listing history three times because I thought it was a typo. Turns out seven offers came in the first weekend and four of them were cash from out of state buyers. Anyone else watching these east side prices, or is it just my feed?
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spencerw727d ago
Man I used to roll my eyes when people complained about out of state buyers because I figured that was just how the market works and folks needed to deal with it. Then I watched this happen on my own street, a house that sold for $240k back in 2019 just went for $460k to some couple from California who never even walked through it. My neighbor across the way got outbid on a place she'd rented for six years, and she had the money too, just not cash money. Seven offers in one weekend on a 1,400 square foot ranch tells you everything about who is buying out here and it is not people from here. I was wrong before, this is not normal and it is not just supply and demand, it is outside money treating our neighborhood like a stock. If you are waiting for it to cool off I would not hold your breath.
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