2024 Year in Review & Looking ahead to 2025

On the cusp of the company’s 50th year, Helen Adams Realty's leadership, staff, and agents reflect on 2024 with a sense of pride, accomplishment, and gratitude. Following the unprecedented market of the pandemic between 2020 and 2022, the real estate industry has faced change that has pushed agents, industry experts, and consumers to pivot and adapt to changing markets. In the midst of the rebalancing market, wavering mortgage rates, and national changes to buyer’s agency, Helen Adams Realty has continued to adjust to best serve its agents and clients with the highest level of service. 
 

Strong Economic Indicators

Holding its rank as the 15th largest city in the country, Charlotte shines as a city that balances urban energy with suburban charm. Over the past year, its dynamic economy—anchored by thriving sectors like finance, technology, and healthcare—has solidified its reputation as a destination for career growth and innovation. According to the Charlotte Regional Business Alliance, Charlotte is growing at an accelerated rate thanks to its $220B economy: 30% faster than the U.S. and 20% faster than the rest of the Carolinas. The city’s cultural scene has flourished, with its arts, culinary offerings, and diverse festivals drawing locals and newcomers alike into a shared celebration of creativity and community.

Additionally, North Carolina is incentivizing business growth through a corporate tax plan. During the firm’s latest State of the Market report, Co-President Frank Adams shared, “North Carolina’s corporate tax rate will start decreasing in 2025, phasing out to 0% by 2030. This will be a big draw for businesses and means positive population growth, job opportunities, demand for homes, and continued home price appreciation.”

Moody’s Analytics captured the city’s momentum in its latest report, showing an average of 297 new residents moving to the Charlotte area daily throughout 2024. This steady growth underscores why the Charlotte Metro area is projected to expand by 50% by 2050. Housing demand has remained robust, driving home price appreciation that reflects both the area’s desirability and economic vitality. Over the last 20 years, home prices in the region have risen by an impressive average of 5.1% annually, making homeownership a key part of Charlotte’s story of success.

“Charlotte was recently ranked the 5th best place to live in the country,” shared Co-President Rebecca Adams Starrs, referring to a U.S. News and World Report study. “With the cost of living lower than many major metro areas, the mountains and the beach within driving distance, and a strong, diverse economy, Charlotte is a great place to live and invest in a home.”
 

Rebalancing Market

After years of rapid price growth and intense competition, the U.S. real estate market is undergoing noticeable rebalancing. Rising mortgage rates and inflationary pressures have tempered buyer demand, leading to a shift toward a more normalized pace of transactions. As more homes enter the market (both as resale and new construction) and inventory rises, this rebalancing offers opportunities for buyers to regain leverage in negotiations while providing sellers a chance to capitalize on sustained equity gains. Overall, the market is transitioning toward a healthier equilibrium, setting the stage for long-term stability.

CEO Jeff Adams added his perspective, saying, “Mortgage rates have normalized from historic lows and leading experts expect the average mortgage rate to land around 5.88% in 2025. The 30-year average is now at 7.85%.” He added, “Keeping our area’s annual home price appreciation of 5.2% in mind, the cost of waiting to purchase a home increases every day.”
 

Changes in Residential Real Estate

Residential real estate changed in 2024 across the United States, in response to a National Association of REALTORS® (NAR®) settlement agreement brought by home sellers related to broker compensation. In brief, practice changes include the requirement of written buyer agreements and the removal of offers of compensation in the Multiple Listing Service (MLS). Both changes were enacted nationwide to provide consumers on both sides of a residential transaction with additional choice and transparency.”

Agents and firms practicing in North and South Carolina were already poised to communicate transparency in all on-market transactions, with existing Buyer Agency Agreement requirements in place for years. While the settlement generated buzz regarding real estate across the nation, our local requirements allowed both NC and SC real estate firms to continue business almost as usual.  

Real estate agents continue to play a pivotal role in buying and selling property. According to the NAR®’s 2024 Profile of Home Buyers and Sellers, 86% of all home buyers and 90% of home sellers utilized an agent’s services last year. Similarly, FSBO (For Sale by Owner) properties were at an all-time low of 6% of homes sold.
 

Reflecting Beyond 2024

Local Roots and Expertise

2024 marked a milestone year for the firm’s leadership, with third-generation family members moving into key roles. Frank Adams and Rebecca Adams Starrs assumed the titles of Co-President and Jeff Adams moved into a CEO role. As the firm heads into its 50th year and Jeff readies himself to pass the torch to the newest generation, the future of Helen Adams Realty is shining as bright as ever. Together with the firm’s management team, staff, and agents, they aim to uphold Helen Adams’ approach to the business: offer the highest level of personal service, unmatched area knowledge, and unwavering ethical standards
 

What Sets Helen Adams Apart

Helen Adams Realty offers unique programs and partnerships such as:

• Strategically Local: With four strategically located offices in Lake Norman, Central Charlotte, Ballantyne, and Fort Mill, the firm has grown alongside Charlotte’s dynamic expansion to meet the needs of its clients and agents.
• Training: A three-week “Basic Training” program for new agents includes classes designed to help them navigate the scenarios they will encounter throughout their careers. Training throughout the year is offered for all agents and includes skill sessions, marketing and technology classes, agent-led panels, business planning, company sales meetings, and market insights to keep our clients informed and engaged in our ever-evolving industry
• Non-Competing Brokers-in-Charge (BIC): Our BICs don’t compete with our agents, meaning they’re here to support them and their clients 24/7
• Tech Suite: Agents have access to robust websites for themselves and their listings, a customer relationship management (CRM) platform, digital signature and transaction management software, and more
• Marketing: A full-service, in-house marketing department with 8 staff members to assist with everything from property marketing, social media, and custom logos
• Support Staff: Each office is fully staffed with a Broker-in-Charge, Office Administrator, and Marketing staff along with a full-time Relocation, Accounting, and Technology department at our main office on Randolph Road
• HOMESolutions: Our all-in-one platform provides traditional and modern options to buy and sell homes with cash offerings and bridge options for clients
  • Market Ready: Market Ready is part of the HOMESolutions platform. This program allows sellers to borrow up to $30,000 to make pre-listing improvements to their homes with zero interest or fees so they can sell for top-dollar
• Affiliated Business Support: The firm has dedicated representatives for the following services:
  • IntroLend, an agent-owned mortgage company that allows clients to compare rates side by side
  • Main Street Insurance, a locally owned insurance brokerage with national reach, A+ rated carriers, and enhanced coverages at incredible prices
  • Cardinal Title Center
  • Home Warranty Representatives through three home warranty companies to bring you affordable options
     

In reflecting on 2024 and looking forward to 2025, the Charlotte area home market is expected to be strong and continue to pay dividends to those willing and able to invest in it. Ultimately, Charlotte embodies a perfect balance between career opportunities, cultural richness, and a comfortable lifestyle, making it a coveted place to live and thrive.

From all of us at Helen Adams Realty, thank you for your continued trust and support last year and in the year ahead. We are proud to serve our community as a local, family-owned business since 1975.