What’s the Real Estate Market Doing in Midwood?
Plaza Midwood is full of rich history yet, urban and hip. Established in the early 1900’s, Midwood was developed along the trolley line that ran from Charlotte’s then, Downtown, along Central Avenue. Suffering during the 60’s and 70’s, in serious decline, concerned residents established the Plaza Midwood Neighborhood Association. The community began to be refurbished and residents worked diligently to improve the appearance of the area and revitalized Plaza Midwood in style.
Midwood continues to defy the market, with swift sales and continued buzz about this popular community. Many Uptown residents are finding Midwood the perfect blend of walkability and suburban lifestyle. With many shops, bars and restaurants within walking distance as well as a quick (under 5-minute) drive to Uptown, Midwood’s location is one of the best in the city.
Market absorption trends can help buyers and sellers alike clarify the true Midwood real estate market.
There is a 9-month supply of homes for sale in Midwood. Despite the sales and showings in the area, the community remains a buyers’ market. Average price per square foot is at around $148.00 and the average days on the market at 124 for active listings, selling at day 141 at 93% list to sales price.
Also included are the distressed sale data for Midwood. Only 2 homes that are distressed sold over the past year, both selling at higher list to sales price ratio and at a higher than normal resale value. Resales are a better ‘bargain’ for buyers in this community.
If you’re searching homes for sale in Midwood, click here for all available listings in the Midwood community.
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