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Rising land prices, supply and demand trends, and competition in the land development marketplace were some of the topics discussed by real estate professionals at a panel discussion in Charlotte.
“Regional Land Dynamics – What to Expect in 2025” brought together local industry leaders for a panel discussion and Q&A session at HopFly Brewing in Charlotte. WithersRavenel Business Development Representative Tobe Holmes moderated the event which looked at land development’s future in the Queen City region.
Panelists were Jay Royster, Principal of Royster Commercial Real Estate; Chuck McShane, Senior Director for Market Analytics at CoStar Group; Mathis Nedell, Senior National Real Estate Manager for McDonald’s USA, LLC; and Kyle diPretoro, Principal at DP Development.
Challenges are especially pronounced in the urban Charlotte land market, panelists noted. While prices are moderating, they remain elevated. Meanwhile, there is an oversupply of multifamily housing and a relatively stagnant office market.
The suburban land market in the region shows more promise, though. There is a high demand for land in secondary and tertiary markets up to an hour from the city center. Job growth in these areas, more affordable housing costs, and the notable features of these communities are helping to drive increasing development, particularly in single-family housing. Increasing work-from-home opportunities and greater acceptance of remote work in general are also supporting this growth trend.
“There are delightful towns that are walkable and provide great amenities, and more people are discovering them,” Tobe said.
Following the initial discussion, panelists took questions from real estate professionals and others at the event. Afterward, attendees had an opportunity to network at the brewery.
Want to start a discussion about land development in the Charlotte area? Contact Tobe at 704-919-1242 or tholmes@withersravenel.com.
