Charlotte vs Midwood Sedgefield Dilworth Median Homes Sold Price per sf.
As most of you know, we cover intown and midtown closely. This week are popular subdivisions Sedgefield, Dilwort and Midwood versus the City of Charlotte
The home price comparison is year over year, (YOY) so August 2015 to August 2014. Some of this is a little counter intuitive with Charlotte up 6.5%, but Dilworth down 2.4% in Median home price sold per square foot. Clearly, Dilworth is a part of the City of Charlotte ... this highlights that all real estate is local, sometimes hyperlocal.
In some subdivisions even a median sales price per sf is meaningless, because there are multiple price points. Sedgefield is a classic example with prices higher on the Park Rd side than on the South Blvd side. Many have 2 price points in the same subdivision, sometimes 3, making a past average always wrong when trying to predict a price! It is Too high for the cheap side and too low for the high side! It is even worse in uptown condos where view is everything... an example might be city views sell at X, all others X-10%.
This is why you need a top agent to help walk your way through the numbers, and double check those comp's before you make an offer.
Now lets look at % Sold/List--how close to list price did homes sell, and are there trends YOY?
Now comparing the numbers YOY Sedgefield bounced all over, but wound up much higher over 18 months ago. This is one measure of how "hot" a neighborhood is, what % of list average to they sell at. Citywide, Charlotte sold for 3.2% off list (Charlotte 100-96.8), but Midwood had the tightest pricing, with only 1.8% off list, (And it grew tighter in the last 12 months) Sellers, it may also be the Agents are a bit "price shy" about asking for higher prices. It happens.
Knowing your numbers, just one reason to have the McDonald Group help you buy or sell your next home.
The McDonald Group at EXP Realty is a group of professionals, dedicated to helping our Clients win in real estate. Expert and honest advice, local area knowledge, and seriousness of purpose but with folks who don't take themselves too seriously. The founder Terry McDonald, was a builder for 20 years, and has been a broker for the last 13 years. Buying a home or selling, first home buyer or relocating to Charlotte,the McDonald Group is here to serve. Our client list includes first home buyers to luxury homes, professional athletes, business owners and physicians. From in town to South Charlotte, Lake Norman too, we know Charlotte.
The Group's core values are all about integrity and market expertise. We look out for their clients interest above all others. We are a learning organization, and big believers in training and lifetime learning. Sellers know us for our technological savvy, our aggressive marketing, and the ability to consistently beat the averages in Days on Market. Buyers love us, we never pressure anyone, yet were able to save our Buyer clients 44% off the market average in 2013- and now that the market has changed we win more than our fair share of multiple offer situations.
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