Blog

Wednesday, May 18, 2016

Latest Charlotte Real Estate News

The spring is always a busy time in the Charlotte real estate industry and that is true now more than ever. Here’s a look at some of the latest real estate headlines to hit the Charlotte area in recent weeks.


New Duplexes and Triplexes in Elizabeth

The “Towers at Mattie Rose” are coming to Elizabeth as a development company, Grandfather Homes, is planning 18 new units. These new duplexes and triplexes will start off in the low $600k range. The homes will feature 2,200 to 2,800 square feet, along with three bedrooms and three bathrooms. The design will be urban and will include skyline views.

Belmont Surging

The Belmont neighborhood has recently seen a surge in the average sale price of its home, which now range between $210k and $270k. A good deal of the area’s historic homes have undergone renovations, which has resulted in new condos and single-family homes for sale in Charlotte. The neighborhood was the recipient of a recent grant, which has led to its rejuvenation and subsequent upgrade in real estate prices.

Midtown Development Being Considered

A new project was introduced by Pappas Properties that would bring 21,600 square feet of ground-floor retail space and 172 residential units to a 5.3 acre-site next to Pearle Street Park on Kenilworth Avenue and Greenwood Cliff Road. The city of Charlotte is considering adding a $3.9 million contribution to the project.

Renaissance Park on the Rise

Many Charlotte neighborhoods are seeing an increase in the average home value. Renaissance Park has joined that group. Last year it saw a 27% increase in the price of its homes. Now, the median value of a home in that area is now at $110,000 as the market value of its real estate is very much up and coming.

Mortgage Applications Increasing

The spring time always brings out prospective buyers and this year is no different. Through the early part of April, Charlotte lenders are reporting more than a 10% increase in mortgage applications. That trend is expected to continue through the spring as real estate in Charlotte is becoming a very sought-after commodity.

PURE Real Estate of Charlotte NC is your top resource when it comes to buying or selling a home in Charlotte. With years of experience in the Charlotte real estate industry, our qualified team of agents will point you in the right direction and make the process a whole lot easier.



Resources:
http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article72007012.htmlhttp://www.bizjournals.com/charlotte/blog/real_estate/2016/04/city-considering-3-9-million-in-support-for-major.html