Hit $50k in home equity after 2 years and it blew my mind

Tbh I bought my tiny bungalow in Plaza Midwood back in 2022 for $310k and just got it reappraised last week at $365k. That's like $50k in equity I didn't even plan for. I only put 5% down so it feels wild that I'm not totally underwater anymore with interest rates. Has anyone else been surprised by how fast their place went up in a specific Charlotte hood?

2 comments

2 Comments

stella_lee16d ago

The whole Charlotte market has this weird ripple effect where one hood popping off drags the rest up with it. Bought in a rougher part of Eastway back in 2021 for $225k and saw comps hit $290k within two years. It's like every time someone drops $600k on a flip in Dilworth, it jacks up values 10 blocks out. Makes you wonder how much of this is real demand vs just people panic buying before prices climb again.

tyler36816d ago

Honestly @stella_lee, I think that $225k buy was actually in 2022 not 2021, the timing is off a bit.