June 17, 2011 Charlotte Real Estate
Midwood Market Report

Midwood, established in the early 1900’s, was designed around a trolley line that ran from Downtown (now, Uptown). From the beginning, large craftsman bungalows lined The Plaza. Following the war, the development and home styles changed to cute cottages which were built deeper into the neighborhood. Newer construction now replicates the homes of the past and blend right in with the existing, historic homes.

Midwood continues to be one of the most popular communities in the Charlotte area. With it’s large park and friendly neighbors, Midwood has so much to offer. From cute shops to hip art galleries and fabulous restaurants, all within walking distance, Midwood residents enjoy a like like none other in the Charlotte area.

Historic Midwood prices have remained fairly stable during the economic downturn. The 12-month market absorption trend below reflects a 7-month supply; Midwood remains a buyers’ market but, analysis shows a trend to a neutral market in this community.

14 homes have sold in Midwood with 3 bedrooms, 1-2 baths and between 1,000 and 1,500 square feet, on the Club side of Central Avenue over the past 12 months.  The market data for those are as follows:

List Price: $225,407         Sales Price: $212,185          List to sales ratio: 94.1%

Heated square foot average: 1,302                 Sales price per square foot: $162.

Below is a map of those homes which have sold: