City of Kings Mountain ranked #1 Healthiest Housing Market in US by Smart Asset
Kings Mountain, NC was recently ranked the #1 Healthiest Housing Market in the United States by Smart Asset. Four different sets of criteria were used in the rankings. Stability, Affordability, Fluidity and Risk.
From a Realtors perspective, we are thrilled that the City of Kings Mountain has been named the Healthiest Market in the United States. The designation provides further proof that Kings Mountain is a great place to call home. There are a couple takeaways from looking at the numbers that I'll share and I'll also provide some statistics that shed more light on just how much value comes with living in Kings Mountain.
The most impactful aspect of this ranking came from Affordability, accounting for 40% of the overall weight. The cost to own a home here can be significantly less than other counties close-by. With more affordable property taxes and utilities through the City of Kings Mountain, residents find it costs less to live here.
Kings Mountain is in the Top 5 of Average Years Living in Home at 22.9 years. Simply put, once people move here, and discover how wonderful our community is -- they stay!
Kings Mountain ranks 2nd in the Risk category. This is huge for potential buyers looking to move to a particular area. The determining factor here is the percentage of homes losing value. At 6.2%, only trailing neighboring Shelby (4.5%), nearly 94% of homes are increasing in value. If you are looking to move here, you can look at these numbers and know that your property is almost certain to gain value in the long run.
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Image Courtesy of Smart Asset
Another category this ranking describes is Fluidity and ease of sale. This talks about the average days on market before a house is sold. When the average days on market is relatively low, 52.1 days for Kings Mountain, that tells us it is a very fluid market. Sellers are able to list their houses and have an abundance of home buyers shopping for property. Kings Mountain is sure to see an uptick in the amount of people looking to move here. We are so proud of all the efforts from our city and community to make this a great place to call home. This all leads back to the overall "health" of our market, which is clearly #1!
Lastly, some numbers from our MLS Database, over the last 3 years.
• The average median sales price from Jan 2017 ($119,970) to Apr 2020 ($142,490) has increased 10.0%
• Median Price Per Square Foot has risen from $77/sq ft in Jan 2017 to $105/sq ft in Apr 2020
(*We do not recommend using your home's square footage with this figure, as there are a lot of different factors that go into pricing strategies. Consult with a Realtor and have them prepare a Comparative Market Analysis for your home to determine its true value.)
• Kings Mountain homes are currently closing at 97.8% of their original listing price. This is a really strong number, as people are getting the value needed out of their homes.
If you are trying to navigate your way towards buying or selling a home, we would love to chat! We are here for our clients 24 hours a day, 7 days a week. If you have questions about Real Estate, whether it be buying or selling -- don't hesitate to reach out to one of our agents today!