Diverse and eclectic are two words that come to mind when talking about Charlotte’s Midwood neighborhood. It’s the place to go in town for off-beat eateries and funky artsy finds. It isn’t just commerce driving Charlotteans to Midwood. The area also boasts some spectacular real estate finds.
Developed in the 1920s as a streetcar suburb, Midwood underwent several phases during the Depression, which led to the diverse architecture. Many of its original bungalows have been preserved and restored to their original glory, but if it’s modern-day luxury you want then you can find that, too. There are even unrestored homes in lower price points ready for renovation or tearing down.
Homes do not tend to sit long on the market in Midwood. During the last 12 months, an average of nearly 13 homes sold per month, and that number has risen to more than 15 in the last 3 months. With only 28 homes currently on the market – and 12 already under contract – that is only about 9 weeks of inventory for Midwood. For comparison, Charlotte as a whole has approximately 3.7 months of inventory.
The highest list price is $1.175 million for a 5 bedroom, 4 bath home nearly 5,700 square feet, while the lowest is listed at $144,000 for an unrenovated 2 bedroom, 2 bathroom bungalow.
The average sales price for homes in Midwood is nearly $390,000 in the last 12 months and $395,000 during the last 3 months. The average price per square foot is nearly $205.