Conveniently or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. below is the market trends over the past three years for the area from August 1st to July 31st.
3 years ago there were 42 homes that sold for an average sale price of $239,738 and they were on the market for an average of 60 days.
2 years ago there was 31 homes that sold for an average sale price of $236,593. They were on the market for an average of 136 days.
Last year there were 26 homes that sold for an average of $197,641. They were on the market for 116 days.
Currently there are 33 active homes listed for sale at an average asking price of $266,071. These homes have been on the market for an average of 150 days.
In addition there are 5 homes currently under contract and they have been on the market for an average of 142 days. The asking price of those homes was $250,468.
Based on the availble inventory of homes and the 3 year average of homes sold; NoDa has a one year average of homes on the market. In a balanced market (one that favors neither the seller or the buyer) the optimal balance is a six month supply. The trend is showing that the market in this area of Charlotte still favors the buyer.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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