If you examine Charlotte home prices by zip code, you will quickly discover which areas of South Charlotte have the highest home prices and highest price per square foot. I compiled data from the first half of 2014 from our Carolina Multiple Listing Service, and put the data in the chart below. My data is a little different from what you'll read in the newspaper, which usually measures year-over-year changes from a certain month. The numbers below are pulled from ALL sales of single family houses in 13 zip codes.
So what does all this data tell us? First of all, you'll notice that all but two of the zip codes that I analyzed showed a INCREASE in average prices in 2014. Sales in the first half of 2014 are significantly higher than the average sale prices in 2013.
Zip code 28207 had the highest average sales prices in the first half of 2014. You'll find the exclusive, historic neighborhoods of Myers Park and Eastover in this high-end zip code. The average sales price for all sales in 28207 in 2014 is $1,201,352! The average! This is 8.95% higher than the average sales price for this zip code in 2013.
The Charlotte home prices by zip code with the largest percentage increase in average sales price is 28209, with an increase of 14.22% over 2013 prices. This zip code includes the following neighborhoods/areas: Madison Park, Selwyn Park, Sedgefield, Barclay Downs and parts of Myers Park, to name a few.
Other big-gaining zipcodes include 28203 and 28210. 28203 includes popular, historic Dilworth, and 28210 includes such neighborhoods as Starmount, Cameron Wood, Park Crossing, Beverly Woods, Quail Hollow Estates, Southpark, Sharon Hills and Sharon Woods, to name a few.
The two zip codes that showed decreases in average sales price in 2014 were 28105 (Matthews) which was down 4.35%, and 28211, which was down only slightly by .82%. 28211 includes Stonehaven, Cotswold, Sherwood Forest, Providence Park, Medearis, Foxcroft, Greentree, and parts of Barclay Downs and Myers Park.
When I looked at these Charlotte home prices by zip code, I discovered that sellers are getting at least 97% -98% of their asking price, and homes are selling much faster than they did last year. These numbers are consistent with sales price increases all over the entire Charlotte area, not just in South Charlotte.
South Charlotte Real Estate Specialist
If you'd like to talk about the real estate market in South Charlotte, please give me a call! I live and work in South Charlotte, and would love to help you understand these numbers and what they might mean for you and your family. Whether you are thinking about selling your Charlotte home, or would like to buy a home in Charlotte, I can help. All it takes is a phone call to get started. I look forward to talking to you!