HousingWire is teaming with BuildZoom to identify the suburbs in major metros with the best home-value appreciation.
Using the latest data from Zillow (Z), BuildZoom Chief Economist Issi Romem sorted through the cities in the Charlotte, North Carolina metro area and identified those with the greatest price appreciation.
For Charlotte, in order to provide a picture of the home-price gains in every price point, Romem broke out the cities into seven median home value categories, and for each one he reported the suburb with the greatest year-over-year home value gains – using data from November 2013-November 2014.
1. Smyrna, South Carolina
Median home value: $148,000
YOY gain: 26.06%
Easily the biggest year-over-year gain was in Smyrna, South Carolina, which has the claim to fame of being the smallest incorporated town in South Carolina. You say you want small town life, you get it here.
2. Mount Pleasant, North Carolina
Median home value: $162,700
YOY gain: 13.7%
Another small town that harkens back to the feel of Mayberry, Mount Pleasant saw the second fastest home price growth. But be warned, the farmer's market in Mount Pleasant is seasonal and doesn't open until April.
3. Fort Mill, South Carolina
Median home value: $232,700
YOY gain: 9.4%
Its history goes back to the mid-18th Century, and its first settlers still have descendants living there. It was the site of the last cabinet meeting of the government of the Confederate States after President Davis and company had to flee Richmond. According to the city, the Fort Mill Schools are among the best in the state and perform well above national standards.
4. Weddington, North Carolina
Median home value: $404,700
YOY gain: 9.32%
The suburb with the best gains in the most expensive bucket is also the third wealthiest town in North Carolina in terms of household income. And space is not an issue. Homes in Weddington consist almost entirely of single-family homes on lots of one acre or more.
5. Clover, South Carolina
Median home value: $167,100
YOY gain: 8.86%
Located just east of the site of the pivotal Battle of Kings Mountain, the town has seen its share of growth and struggle, but home prices have done nicely this past year. The town is also making a move to raise citizen awareness on the dangers of smoking, and recently banned tobacco products in all of its parks.
6. Catawba, South Carolina
Median home value: $142,300
YOY gain: 8.46%
Located in the foothills, or Piedmont, of South Carolina, this Charlotte suburb was first settled in 1670. A lot of the land around has been farmed out, hence the red clay, but it is still a vibrant place to live, and remains unincorporated.
7. Lowell, North Carolina
Median home value: $86,500
YOY gain: 6%
Founded in the 1870s and named after Lowell, Massachusetts, Lowell became like its namesake a textile hub for the area. Today it is one of the least expensive suburbs of Charlotte. Unlike Weddington, Lowell offers much more options in terms of housing. "Lowell offers a wide variety of housing options for people from all walks of life," the city website declares. "Whether you are looking to rent an apartment or buy a home, we have a place for you here."