Elizabeth Homes are Starting to Recover from the Housing Slump

Elizabeth community sign

The Elizabeth neighborhood near uptown Charlotte is beginning to recover from the real estate slump we’ve seen over the past couple of years in Charlotte as a whole. While it wasn’t hit too hard, its nice to see it starting to show signs of recovery. Just a year ago, the average amount of sales in the neighborhood per month was a little over one. That number has steadily grown over the past twelve months to its current average of two sales per month.

The average price of homes sold in Elizabeth over the past year are increasing from an average of $405,574 a year ago to $456,666 in the past three months.

Although appraisers compare features, updates, square footage, and other items when preparing a true appraisal, a basic value of home prices can be found by comparing price per square foot. With the average price of homes sold increasing, it led to the average price per square foot of homes sold also increasing.

Lastly, the average amount sellers have discounted their homes to get them sold, has decreased from 7.42% a year ago, to 5.34% in the past three months.

One of the best times to buy real estate is at the bottom of the market or as it begins to rise from the bottom. Looking at the pure data of Elizabeth real estate, it looks like now is a prime time to buy. Are you curious about what homes are for sale in Elizabeth? Take a look below this post to see all homes on the market in Elizabeth, including distress sales (foreclosures, bank owned, REO, short sales, etc.)