Myers Park Charlotte Real Estate Market Report June 1, 2013

Daily, we are asked, “So, how’s the real estate market doing in Charlotte?” Often, we are asked specifically about many of our popular older communities, including historic Myers Park. Myers Park is one community that continuously stands the test of time where housing appreciation is concerned. Yes, we suffered through a recent recession but, Myers Park is one of the neighborhoods that didn’t feel the depth of depreciation/devaluation that many of the Charlotte neighborhoods experienced.

Below is the current market snapshot of the Myers Park neighborhood. Year-to-date (2013 only), 96 homes have sold in the Myers Park neighborhood at a list price of $866,230 and a sales price of $829,150, an increase of 11% over 2012 sales prices. Homes in Myers Park average 96 days on the market thus far this year.

Average sales prices of homes sold in Myers Park, year-over-year were a bit less (4.4%) than what we’ve experienced year-to-date (11% increase).

The Myers Park Charlotte housing inventory has been reduced drastically – double-digits, in fact; down 53.3% year-over-year! This is a remarkable turnaround in such a short period of time. Low interest rates continue to drive buyers to the Myers Park neighborhood and other areas of higher appreciation in the Charlotte Metro region.

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