Market Report--University Area Charlotte, NC. April, 2011

The area in the Northeast side of Charlotte which is home to the University of North Carolina charlotte is known among local residentsa as the Unviersity area.  It basically is an area that encompasses from Interstate 85 south to rocky river road and west to W.T. Harris Blvd and east to Cabarrus county line.  All the homes in that area are within a five to ten minute ride of the Unviersity.

Below are the market statistics for the area over the past three years.  This is based on what has sold from April 1st through March 31st:

3 years ago there were 320 homes that sold for an average sale price of $153,223.  they were on the market for an average of 44 days.

2 years ago there were 320 homes that sold for an average sale price of $140,086.  They were on the market for an average of 64 days.

Last year there were 303 homes that sold for an average of $130,663.  They were on the market for an average of 95 days.

Currently there are 222 homes actively on the market right now in that area.  They are on the market for an average of $163,949.  There is also 82 homes currently under contract in the same area.

That area becuase of it's large college prescence, it is home to many townhome/condo complexes. Below are the numbers for those during the same period.

3 years ago there were 138 townhomes/condos that sold for an average sale price of $102,330.  they were on the market for an average of 47 days.

2 years ago there were 104 townhomes/condos that sold for an average of $90,578.  They were on the market for an average of 72 days.

Last year there were 105 townhomes/condos that sold for an average of $79727.  They were on the market for na average of 108 days.

Currently there are 91 townhomes./condos active in the market right now for an average price of $94,210 and 9 under contract.