Posted On: July 18, 2010 By: michael

June 2010 Uptown Charlotte Condo Report!

There were 45 properties on the market with an average list price of $310,528 and average price per square foot of $249.53

4 properties were conditional.
6 properties were pending.
0 properties were contingent.
25 properties were withdrawn.
3 expired listings.

The 19 sold units had an average listing price of $279,199 and sold for of $257,551 with the average price per square foot of $234.02 and averaging 134 days on the market.

The 19 units that were sold for the month were located at the Cedar Street Commons Condos, Gateway Plaza Condos, 3 Fifth and Poplar, Courtside, 5 The Avenue Condos,  2 The Ratcliffe Condos,  The Gallery Lofts, St Peters Condos, Ivey’s Townhomes Condos, Alexander on Ninth Condos, Metro 10 West Condos, and Jefferson Square Condos

For more stats please visit Uptown Charlotte Stats

Category: Statistics

Posted On: July 18, 2010 By: michael

May 2010 Uptown Charlotte Condo Report!

There were 36 properties on the market with an average list price of $333,519 and average price per square foot of $251.84

1 properties were conditional.
2 properties were pending.
0 properties were contingent.
22 properties were withdrawn.
2 expired listings.

The 16 sold units had an average listing price of $211,100 and sold for of $201,562 with the average price per square foot of $189.61 and averaging 106 days on the market.

The 16 units that were sold for the month were located at the 2 Annex, 2 Fifth and Poplar, Trademark Condos, 1^st Row Warehouse, Manhattan on the Park, Courtside Condos, 10^th Street Condos, 10^th Avenue Townhomes, Clarkson Place Condos, The Avenue Condos,  The Ratcliffe Condos  and 3 at Fourth Ward Square Condos. 

For more stats please visit Uptown Charlotte Stats

Category: Statistics

Posted On: May 17, 2010 By: admin

Another chapter goes down in the books as The Park Condos gets “OK” for hotel rooms.  The Park which is located in 2^nd Ward, was one of the earlier projects during the economic boom, however was never completed.  Many buyers lost their earnest money and have sued the developer to reclaim lost funds.   Due to the developer filing chapter 7, it is highly unlikely they will ever seen any return of their monies. 

According to recent reports the Charlotte City Council has approved hotel rooms and a rooftop restaurant to the unfinished condo tower.   The new zoning calls for up to 148 hotel rooms and 74 residential condo units. 

The building is currently 70% complete and would take up to 20 months to finish once construction begins. 

We have also blogged about The Park Condos in these related stories.

On May 25^th, 2009 – The Park Condos Developer Files Chapter 7

On August 19^th, 2009 – Park Condos in Uptown Charlotte get a buyer

Category: Second Ward

Posted On: May 17, 2010 By: admin

The latest causality in Uptown Charlotte is Reid’s Fine Foods.  Reid’s was located in the Seventh Street Station since 1998.  This leaves Uptown Charlotte with only one grocery store which is the Harris Teeter connected to Fifth and Poplar.

Category: Uncategorized

Posted On: May 10, 2010 By: admin

April 2010 Charlotte Condos Report!

There were 54 properties on the market with an average list price of $359,031

9 properties were conditional.
13 properties were pending.
0 properties were contingent.
12 properties were withdrawn.
13 expired listings.

The 15 sold units had an average listing price of $241,906 and sold for of $232,672 averaging 94 days on the market.

The 15 units that were sold for the month were located at Cityview Townes, Clarkson Green Condos, Cedar Crest Condos, Metro 10 West, Springfield Square, Hanover Place, Jefferson Square, Fifth and Poplar, 2 at Trademark Condos, 2 at Ivey Townhomes and 3 at Fourth Ward Square condos.

Category: Statistics

Posted On: April 15, 2010 By: admin

March 2010 Charlotte Condos Report!

There were 62 properties on the market with an average list price of $359,031

4 property were conditional.
9 properties were pending.
0 properties were contingent.
20 properties were withdrawn.
17 expired listings.

The 11 sold units had an average listing price of $333,554 and sold for of $300,581 averaging 84 days on the market.

The 12 units that were sold for the month were located at The Ratcliffe Condos, 1^st Row Warehouse, Fifth and Poplar, Frederick Place Condos, Park Plaza, Courtside Condos and 4 at Avenue Condominiums and one Town Home in 4^th Ward

Category: Statistics

Posted On: March 28, 2010 By: admin

One of the biggest factors effecting the rate markets today is the increasing issuance of corporate debt as the economic outlook improves, the Demand for corporates is increasing and the yields are better than treasuries. The treasury markets have always been considered rock solid safe investments that kept many investors out of the corporate bond market. Today US debt is increasing so rapidly with a Congress and Administration hell bent on more spending, that investors see the gap in safety narrowing.

The bond and mortgage markets will be skittish ahead of the 7 yr auction and with yields at the highs of the year. Trading will be choppy with wide swings now for the next week or so as the pounding today is analyzed in context of the economy, demand for US debt and of course, the equity market that is characterized these days as completely ignoring current economic data in favor of the wider outlook that ion itself is on shaky ground in our judgment.

Regarding market moves like this week’s the speculation from the talking heads runs rampant. The first thing we heard was that the spike is in response to the health care bill. No matter what you are told about the bill cutting the deficit by $130B, it is totally and completely a smoke screen. There isn’t any savvy trader in the markets that believes that; the US deficit is set to increase much more than it would have without that bill. Yes Virginia, it will appear to be a cut but when we look out a few years the reality sets in. No matter how the pie is sliced the bill cannot be funded with tax increases as the plan is constructed, to insure 30 mil more people will cost the taxpayer with higher taxes and more deficit spending. Possibly those sovereign countries funding US deficits are getting a little concerned and in the future demand higher interest rates. Whether the reaction to the health care bill actually caused the rate spike isn’t clear; what is clear though is that Treasury borrowing $192B a month on 2s through 30s isn’t likely to fly much longer with low interest rates.
-Shirmeyer Rate Market Report / Sigma Research, Inc.

Though the dollar has benefited by recent spikes in the market, we would caution that rates will increase over the next 30 days as 2010 continues it’s shake-down cruise.

Wyndham Capital Mortgage rates:
Conventional 30yr Fixed ………………..4.750%
Conventional 15yr Fixed…………………4.250%
Conventional 5/1 ARM……………………3.375%
FHA 30yr Fixed……………………………4.750%
FHA 15yr Fixed……………………………4.250%

Edward Mayor, Wyndham Capital Mortgage (704) 369-2629 ed.mayor@wyndhamcapital.com

Category: Uncategorized

Posted On: March 25, 2010 By: admin

Uptown Charlotte Second Ward Calendar Year Activity for 2009.

During the calendar year 2009 Second Ward struggled with sales.  By the last day of the year, 4 townhouses/condos had sold. These 4 townhouses were on the market an average of 80 days. The average heated square footage of these 4 units was 3,557 square feet.  The average list price was $1,528,750, and the average sold price was $1,491,653.  These properties sold for an average 95% of the list price.  The four sales were spread out over the year, with one sale being in January, the next sale in March, the third sale being in August, and the last sale being in November.

The previous numbers are skewed by the two sales in January and August.  These condos sold for $3,195,614 and $1,525,000 respectively, and the square footage of each is 7,000 and 3,565 respectively.  Compare these two condos to the two other sales in Second Ward being 1,756 and 1,907 square feet at a sale price of $580,000 and $670,000 respectively, and you can see the broad price range in this particular area.  The two more moderately priced condos that sold are located at The Ratcliffe, and the two more luxurious condos are located at The Trust.

Looking at 2010 year to date, Second Ward currently has three condos on the market. Two are $1.5 million, plus, and the third is priced at $289K. They have been on the market an average of 319 days. There are no closed sales year to date in Second Ward.

Category: Second Ward

Posted On: March 17, 2010 By: admin

February 2010 Charlotte Condos Report!

There were 76 properties on the market with an average list price of $359,031

10 property were conditional.
2 properties were pending.
1 properties were contingent.
31 properties were withdrawn.
10 expired listings.

The 12 sold units had an average listing price of $323,135and sold for of $321,732 averaging 316 days on the market.

The 12 units that were sold for the month were located at The Gallery Lofts, Jefferson Square Condos, 400 North Church, 2 at Avenue Condominiums 2 at 230 South Tyron, and 6 at Garrison at Graham Condos

Category: Statistics

Posted On: February 22, 2010 By: admin

Courtside Condos at the corner of East Sixth and Caldwell Streets enjoyed the majority of the sales. Of the 20 units sold, six were at Courtside Condos, or 30% of the units sold in First Ward during 2009.  Court 6 Condos located on 6^th Street, between N. Davidson and Caldwell followed Courtside Condos with 3 sales, or half the sales of Courtside, during 2009.

Looking at 2010 year to date, First Ward currently has 18 townhouses or condos on the market, and one unit pending the closing of the sale.  There have been no closed sales in First Ward year to date.

Category: First Ward