Established in 1891, historic Elizabeth has evolved into one of the Charlotte area’s hottest neighborhoods. 
Developed mainly in the early 20th Century, Elizabeth’s spectacular trees have matured to form canopies over the streets. Its equally spectacular homes range from quaint bungalows to brick mansions and everything in between. Many of the interiors have been renovated to meet more modern standards without giving up the charm of the original exteriors.
Elizabeth Avenue and 7th Street are the main roads through the neighborhood, which is roughly bordered by Randolph Road and Independence Boulevard.
A $240 million redevelopment plan is under way as a collaborative effort between Grubb Properties and partner Novant Health (Presbyterian) and CPCC. In July, Grubb released its plan to add 550 apartments and 20,000 square feet of retail space along the streetcar line in Elizabeth.
The median price of a home in Elizabeth is approximately $262,000.
During the last 12 months, 42 homes have sold in Elizabeth for an average sales price of approximately $545,000. Expect to pay about $240 per square foot for a home.
Currently, there are 6 homes on the market in Elizabeth, 3 of which are already under contract as of Feb. 1. During the last year, an average of 3.5 homes sold each month, putting the current inventory at about 1.7 months.
Because of the limited land space in Elizabeth, homes tend not to sit on the market long; The 12-month average is 38 days. There are fully renovated homes that top $1 million and diamonds in the rough that can be had in the $200,000s.
The highest and lowest sold price for the last 12 months was just below $1.05 million and $282,000, respectively. Demand for the area is high, and homes average a closing price close to 98% of list price.
There are also a few condominium options in Elizabeth, such as The Grove and Elizabeth Court.
A substantial portion of Elizabeth, the Elizabeth Historic District, is listed on the National Register of Historic Places.
The neighborhood gets its name from Elizabeth College, a women’s Lutheran college established in 1897 that was located on the present site of Presbyterian Hospital. Elizabeth was also once home to William Henry Belk, the department store magnate. His former home is now property of Presbyterian Hospital and is used as office space.
The neighborhood’s rich history and proximity to Uptown make Elizabeth one of the most desirable areas in town. Luckily, it’s also home to some of the best dining – The Fig Tree, Carpe Diem and Cajun Queen – and shopping in town!