What’s the Real Estate Market in Uptown NC Doing These Days?
Uptown Charlotte NC, with homes in the 28202 zip code, is primarily comprised of condos as the vertical boom of the late early 2000’s flooded the market with mid-rise and high-rise buildings in both affordable and luxury ranges. The market was very quickly absorbed, in fact, the envy of most other larger metropolitan areas. As the market begin to soften in 2008, Uptown condos were some of the hardest hit by the change in the economy, plummeting in values, leaving many Uptown Charlotte homeowners with critical financial decisions.
A majority of condo owners in the Uptown area swallowed the bitter pill and took their losses; others opted to rent their condos, determined to hold out for an improved market, while a very small percentage found themselves with distressed properties on their hands. As is evidenced in the current market, distressed properties are at a minimum and prices are beginning to show a slow trend upward.
With interest rates at historical lows, now is the time to get a fantastic ‘deal’ on an Uptown Charlotte condo!
