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South Charlotte NC Connection

- Madison Park Market Report 3.7.08, Charlotte NC Homes

 Madison Park is located between South Blvd and Park Rd in South/Southwest Charlotte, convenient to Uptown Charlotte as well as the new Light Rail Line along South Blvd.

 Homes were built in the 1950's-1960's and styles include ranch, split level, 1.5 story and 2 story homes. Shade trees, winding streets, a central location with the character of an established neighborhood are all integral to Madison Park.

 Many homes in Madison Park have been remodeled and updated, although there are some that have not been recently remodeled and those do tend to sell for less than updated homes.

 Convenience to Uptown and South Park also add to the appeal of Madison Park. The neighborhood has risen in popularity in recent years, in large part due to the newly opened Lynx Blue Line and the additional Uptown commuting option located so close to Madison Park and other neighborhoods in the same vicinity (Sedgefield, Collins Park, Montclaire to name a few).

 Below is the current market report for Madison Park as of 3.7.08

List Price Range

Active Listings

Pending Listings

Conditional, Contingent Listings

Less than $200,000

5

0

1

$200,000-249,999

5

1

0

$250,000-299,999

15

4

0

$300,000-349,999

6

1

1

$350,000-400,000

1

0

0

 It's clear that the most active price point is in the $250,000-299,999 range both with currently available and under contract listings. However there are also options in price points from below $200,000 upwards of $350,000-400,000.

 For a look back at the Closing from February 2008:

Number of Closed Listings

4

Average Sales Price

$266,137

Average Days on Market

54

Average % Sales Price/List Price

94%

 The % of sales/list price was actually skewed a bit due to one of the closed sales percentage of 86% which was quite a bit below the other percentages of 95, 97, and 100%.  Also interesting is the average days on market for February's closed listings - 54 days is actually below the countywide average of around 80 Days on Market.

 For more detailed information on any of the current or recently sold Madison Park or other South Charlotte neighborhoods, we're only ever an e-mail away.

Diane McDermott
Real Estate Broker, REALTOR®
Diane@southcharlottespecialist.com
e2 Real Estate Team, Banks Calkins Real Estate Inc.
www.e2realestateteam.com
"Exceeding Expectations"

*Statistics based on data from Carolina Multiple Listing Service Inc. as of 3.7.08. Information deemed reliable but not guaranteed.



 
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Thriving business plus first class amenities, tree lined streets and neighborhoods tucked away amidst the bustling recreation, retail, entertainment venues make this area one of the hottest destinations around town to live, work and play.

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