2016 is coming to a close, and it has been an interesting year. We have learned some interesting things about the Hickory market and I think we will continue to see the market improvement in 2017. Early on, I think inventory will still be tight in the homes priced below $250,000.
The only thing I think will slow down the market, is if interest rates rise too quickly. As long as they stay below 5% for the first half of the year, I think the spring season will be pretty strong. If you are thinking about selling your home, please let us know and we can talk about how we can help you.
Buyers able to stretch above $300,000 should be able to find some real value in this price range this year. There are some very large properties in really nice neighborhoods that have been overlooked because buyers tend not to want to do upgrades like kitchens and bathrooms. I think this segment is ripe for investment and will be looked at as bargains in the future. This might be the best year in a long time, to move up to the next level of house.
I am really excited to see all of the things that the city of Hickory has planned for the next few years. The “City Walk” running through downtown will make this area perfect for those that like to run and bike. The river walk coming to the Geitner Park area, will be a wonderful place for residents to enjoy Lake Hickory. Hopefully the business park that is planned near Robinson Road, will help our area lure a large company to bring their corporate headquarters to the Hickory area. Make sure you check out the new Lowes Foods City Park in Downtown Hickory. It was put together through the work of Friends of Hickory and is now open for everyone to enjoy.
The local real estate market has not been a smooth road since the financial crisis in 2008, but with all these great local initiatives, we do seem to be on track for sustained growth in our area. This should help keep housing market strong over the next few years. Let us know if we can help you with your housing needs.
Mike Kelly, President
Hickory Real Estate Group