Posted On: January 23, 2011 By: michael

In 2009 when a quality distressed property came into the market in Uptown Charlotte it would be under contract in a matter of days.  In early 2010 we started seeing more and more distressed properties come into the market sprinkled all over Uptown.  With no stability in the job market and a hurting economy, distressed properties stayed on the market for longer periods of time.  Buyers simply had more to choose from and the days on market increased.

I feel 2011 is going to be the year of the distressed properties in Uptown and you are going to see more transactions as prices begin to bottom out while interest rates are at all time lows.  Most of my clients feel the same way and activity has really picked up in Uptown.

95% of the buyers want to purchase one of these distressed properties or find a very motivated seller.   Why buy something at full price when you can get a great deal with one of these properties?  Currently there are 34 distressed properties in Uptown Charlotte.  Some of these properties range from the mid 100’s to all the way into the 1 million range.

Living Uptown Charlotte still remains the best online resource when looking to purchase a Charlotte Condo in and around the Uptown area.  We’ve recently added two sections to the website.

1.  Value Database – Shows motivated sellers in uptown and great deals!
2.  Uptown Charlotte Foreclosed and Short Sale Condos – All the distressed properties in Uptown Charlotte. (Soon will be listing all the different areas such as Dilworth Condos, Elizabeth Condos, Myers Park Condos, South Charlotte Condos, South Park Condos, and South End Condos.

Category: Uncategorized

Posted On: January 23, 2011 By: michael

December 2010 Uptown Charlotte Condo Report!

There were 24 active properties on the market with an average list price of $245,345 and average price per square foot of $226.49

3 properties were conditional.
0 properties were contingent.
9 expired listings.
3 properties were pending.
11 properties were withdrawn.

The 11 sold units had an average listing price of $549,499 and sold for of $516,492 with the average price per square foot of $225.73 and averaging 153 days on the market.

The 11 units that were sold for the month were located at the 1 The Trust Condos, 1 400 North Church Condos, 1 Chapel Watch Condos, 1 Skybox Condos, 1 Springfield Square Condos, 1 Gateway Plaza, 1 Fifth and Poplar Condos,  1 Skyline Terrace Condos, 1 Courtside Condos, and 1 The Avenue Condos

Category: Statistics