Plaza Midwood Market Update Summer 2017

Plaza Midwood Market Update Summer 2017

Plaza Midwood has been one of the hotter neighborhoods in Charlotte recently for its walkability, tree-lined neighborhood streets and its proximity to Uptown.  


Let's take a deeper look at the Plaza Midwood real estate market so far this year...


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If you haven't been to Plaza Midwood before I'd encourage you to give it a try!  The center in Midwood is peppered with boutiques, great food options and plenty of bars/watering holes to call home.  The walkability of Midwood sets it apart from some of the other "close-in" Charlotte neighborhoods.  Between the eclectic stores and food options there is a unique Midwood vibe that falls somewhere between the young professionals populating South End and the career artists in NoDa. 


Let's take a look at the real estate market at the halfway point of 2017 in Plaza Midwood.  So far there have been:

  • 96 homes closed in Plaza Midwood

  • Sales prices ranging from $180,000 for tear-downs all the way up to $1.1M

  • Median Days on Market =  8   


What about appreciation though?  Plaza Midwood is clocking in at a strong 8.4% year over year (median cost/sqft).  Median cost/sqft is  my favorite single measure of appreciation as it accounts for differences in home size.  


Take a look at the appreciation chart below:




Looking forward, Midwood should continue to experience strong appreciation through the end of 2017 -- especially on the streets closest to Thomas Ave.  Midwood is slowly expanding east and while it's still a pretty small area geographically, it continues to grow both east and north as the city continues to grow with all of the newcomers and recent transplants from other cities.  


We'll check back on Plaza Midwood at the end of the year and see if it finishes off 2017 as strongly as it started.


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(All data derived from the Carolina MLS)


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Phone: 704-351-0987
Dated: July 19th 2017
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