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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Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
Hi Debe...Love the huge trees in this neighborhood. That's something that many newer communities do not have.
Kate
Debe - I sure wish you would provide your readers some insight and history on the areas you market and maybe even a little info on real estate trends. Oh wait...you did that..for thae last several years! Who else in Charlotte does that? Nobody but you. Nicely done Debe!
Wow...that's some info in that report Debe!
I'm going to have to work on my market reports!
Hi Debe, Midwood sounds like a very nice area of town, quaint and historic, and at $148 sqft, nicely priced too.
Debe, Midwood has the stats to make it a desirable market for a seller and for a buyer the low square footage costs for housing is ideal...great share
Debe as usual you have put together a fantastic market update for Charolotte. I hope you are doing well.
When we publish sales price to list price of 93%, I always wonder if buyer's agents see that and just automatically write an offer at 93%.
Debe
The Midwood market in Charlotte North Carolina looks strong.
Good luck and success.
Lou Ludwig
Debe, I loved your explanation of the Market Report, specifically that the Regular sales you actually have better deals out there than in the Distressed Market. Many buyers do not understand this and I loved how you showed it to them.
Upbeat, Debe! But, what initially drew me was the darling little photo of the sweet home with the sun bursts on the left side of the picture!