Summerlake (28226) Market Report AUG 2015
Summerlake, one of SouthPark‘s premier communities, features 135 custom-built, elegant, traditional style homes. The homes in Summerlake range from 2,500 to 6,000+ square feet. Some of Summerlake’s lots overlook the community pond, some are situated on the walking trails and others have ‘back door’ access to Olde Providence Swim & Racquet Club.
This lovely neighborhood is situated in the heart of SouthPark, approximately 3 miles from Quail Hollow Country Club, nearby Carmel Country Club and Cedarwood Golf Club is within close proximity as well. Of course, if you’re into shopping and dining at fine restaurants, you will love this location, near SouthPark Mall and the mall’s surrounding fabulous restaurants. Summerlake residents also enjoy the convenience of the Arboretum and it’s central location to all of Charlotte’s premier private schools. This neighborhood boasts top-ranked public school assignments as well.
How’s the market faring in popular Summerlake neighborhood?
The average price per square foot in Summerlake is up 16.8% year-over-year to $181./SF
The average sales price in Summerlake is $865,000, a 27% increase year-over-year
The average days on the market are 81, a 39.7% increase year-over-year.
(Bear in mind that this price range does tend to have slightly increased days on the market; 2014 was the rebound year for the recession and in our opinion, the days on the market have returned to a more ‘normal’ average.)
The market absorption trend reflects a 3.1 month supply of homes for sale in the Summerlake neighborhood.
The market absorption trend can be impacted by any or all of the following:
- The price set on homes for sale in the community
- The improvements made upon each home for sale within the community
- The location within the community
- The exterior construction – some buyers prefer stucco, some brick.
- Current market buyers’ preference dictates how quickly a home will sell based upon these factors.
*Data provided by CMLS; information is reliable but, not guaranteed.
If you’re thinking of buying a home in SouthPark, we know the area like the backs of our hands! We’d love to give you the grand tour and assist you with your home purchase. Let us know when you’re ready! View currently active homes for sale in SouthPark here:
Here’s why savvy Charlotte home sellers are listing with us – our days on the market are well below average and our list-to-sales price ratio is above and beyond the competition! What does this mean? We get your more money for your home in less time – the top two requests that every seller makes!
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | Summerlake Market Report AUG 2015