The University area of Charlotte is the area around the University of North Carolina Charlotte. Located in the northeastern end of Charlotte. A popular destination for young professionals and families. The area encompasses from Interstate 85 south to rocky river road and west to W.T. Harris Blvd and east to Cabarrus county line. All the homes in that area are within a five to ten minute ride of the Unviersity.
Below are the market statitistics for the past three years for single family homes in that area from May 1st throguh April 30th.
3 years ago there were 379 homes sold for an average sale price of $154,684. The average days on market was 45 days.
2 years ago there were 378 homes that sold for an average sale price of $138,124. They were on the market for an average of 70 days.
Last year there were 360 homes that sold for an average sale price of $130,549. They were on the market for an average of 90 days.
Currently there are 285 single family homes actively on the market in the University area of Charlotte. The average asking price of those homes is $153,372. They have been on the market for an average of 114 days.
There also is 94 homes currently under contract in the area. This means that the homes have sold but are not yet closed.
Based on the the trends and availble inventory the market is favoring towards a buyers market in the unviersity area right now.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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