Charlotte Condos Uptown Charlotte

Charlotte Condos and Townhomes for Sale

Charlotte’s Uptown has been transformed.. once a  ghost town by 6:00pm, Charlotte’s night life is back, and back in a big way with this summer’s opening of the Epicenter along with the first move theaters, Thursday night’s outdoor musical entertainment, Alive at 5, and several new clubs and restaurants.  Coming this fall and spring? The grand opening of the First Street Cultural Center… a 48 floor office tower, a new modern art museum- the Bechtler, a new Mint museum of Art, and across the street the Harvey Gantt African-American Cultural Center.

Quick Search, Uptown Charlotte Condos

And I almost forgot the new Nascar hall of Fame, scheduled to open in 2010, the new Ritz Carlton and the 32 story Bank of America building all underway… if it sounds like there is  a lot going on, there is!

But…we have Catalyst, a completed high rise condo having issues with securing lender support. The Park was sold partially complete in foreclosures, and work has halted (being restarted according to this mornings Observer) at the uber expensive ultra modern highrise-the Vue.
And the Condo sales? Not good, not even ok… the recession, over-supply and the stomach punching loss of Wachovia, put a damper on those buying habits this year.  Still a market remains. I’ll focus on the summer months over the last 3 years.

Charlotte Condominium and Townhomes sold from July 1 to September 30.

So, sales have taken a beating in 2009, the number of sales, 37, is less than half the 86 from 2008. Prices have done what you’d have expected, falling ,on average 23%  from the stratospheric prices of 2008.

The strongest sales number remain at the Avenue, 5th and Poplar, the Trademark…the most expensive? That would be the Trust, at 139 Tryon street for $1,525,000 on 3500 + luxurious square feet.

There are about 280 Condominiums and townhouses for sale in Uptown Charlotte today; the market is, quite obviously, a strong Buyers market.

Charlotte Foreclosures- Uptown

Of the 37 condos sold this past summer, 3 were foreclosures or as we call them, Bank owned, with no known Short Sales noted. In the uptown condos for sale today,  there are  3 Condos for sale that are Foreclosures, and atleast 15 are acknowledged Short Sales. Since the Carolina MLS does not have a search field, for Short Sales or  Bank Owned homes, these figures are estimates, based on Agent comments and aren’t thought to be 100% accurate, as they are often under reported.

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