Analysis of Available Town Homes and Condos in the City of Charlotte

Many factors have influenced the significant amounts of town homes and condominiums being built within the City of Charlotte over the past year including land prices, lack of inventory, and overall demand.  Today we take a look at some of the statistics around what is available in the market today:
  • There are currently 630 Active Condominiums and Town Homes for sale in Charlotte, NC as of today
    • 377 of the homes are resale
      • The average resale home was built in 1995
    • 253 of the homes are new construction
      • Status varies between completed homes and proposed construction
  • Pricing
    • Average Pricing of All:
      • $499,711
    • Average Pricing of Resale Only: 
      • $428,491
    • Average Pricing of New Construction
      • $605,838
    • Highest Price of a Listed Home:
      • $3,029,000
        • Home is located in the Regent at Eastover
    • Lowest Price of a Listed Home:
      • $79,900
        • Home is located in Montclaire South
    • Average Price Per Square Foot:
      • All
        • $263.78 per square foot
      • Resale
        • $262.09 per square foot
      • New Construction
        • $266.31 per square foot
          • Prices ranging from $108.96 a square foot all the way to $763.16 a square
  • Square Footage
    •  Average Square Footage of All:
      • 1,840
    • Average Square Footage of Resale:
      • 1,586
    • Average Square Footage of New Construction:
      • 2,218
  • HOA Fees
    • Average HOA Fee:
      • $303 per month
    • Highest HOA Fee:
      • $1,800 per month
    • Lowest HOA Fee:
      • $50 per month
There is no doubt new construction is focusing on much larger condos and town homes, 40% larger than the average resale home.  For buyers who have struggled to find something that fits their needs, I would especially recommend reviewing new construction with it being 40% of the available inventory today.

For a list of available condos and town homes in your area, please feel free to contact us at 
Sales@CLTREA.com
 
Best Place to Work on the Go:
Michael’s Pick:
The Common Market - Oakwold

4420-A, Monroe Rd
Charlotte, NC 28205
https://commonmarketisgood.com/oakwold/
 
The Common Market is one of Charlotte's most popular local gathering spots.  It is a convenience store, a bar, a restaurant, and most of all it is purely Charlotte.  If it is good and local, they have it for sale.

There are a few locations around Charlotte but the Oakwold CM has good parking and plenty of room to sit with your laptop and get through a few emails, drink a kombucha, or have a snack.
Frank’s Pick: 
Optimist Hall

1115 N Brevard St
Charlotte, NC 28206
https://optimisthall.com/
 
Optimist Hall opened in 2019 and instantly became one of my favorite spots in the city.  Long wood benches, outdoor seating, and food and drink stalls line the renovated warehouse today.

Covid has dropped the overall crowds that packed the hall at first, but it certainly hasn't stopped it.  Optimist is still open daily until 9:00 PM and the free Wi-Fi, great food, and significant parking make it a great work on the go destination.