About Charlotte's University Area

The area in the Northeast side of Charlotte which is home to the University of North Carolina charlotte is known among local residentsa as the Unviersity area. It basically is an area that encompasses from Interstate 85 south to rocky river road and west to W.T. Harris Blvd and east to Cabarrus county line. All the homes in that area are within a five to ten minute ride of the Unviersity.

Below are the market statistics for the area over the past three years. This is based on what has sold from April 1st through March 31st:

3 years ago there were 320 homes that sold for an average sale price of $153,223. they were on the market for an average of 44 days.

2 years ago there were 320 homes that sold for an average sale price of $140,086. They were on the market for an average of 64 days.

Last year there were 303 homes that sold for an average of $130,663. They were on the market for an average of 95 days.

Currently there are 222 homes actively on the market right now in that area. They are on the market for an average of $163,949. There is also 82 homes currently under contract in the same area.

That area becuase of it's large college prescence, it is home to many townhome/condo complexes. Below are the numbers for those during the same period.

3 years ago there were 138 townhomes/condos that sold for an average sale price of $102,330. they were on the market for an average of 47 days.

2 years ago there were 104 townhomes/condos that sold for an average of $90,578. They were on the market for an average of 72 days.

Last year there were 105 townhomes/condos that sold for an average of $79727. They were on the market for na average of 108 days.

Currently there are 91 townhomes./condos active in the market right now for an average price of $94,210 and 9 under contract.

A popular place among families moving to the area is known as the University area. It gets it's name from being home to University of North Carolina Charlotte. It is conviently located in the north east section of Charlotte. This area is known for it's excellent academic standards, UNCC has very strict entrance requirements and is one of a handful of state colleges that offers progrmas up to a Doctorate program. The school has been recognized as a top academic university by major publications for years. Thus, this does not make it your typical college town.

The uniersity area offers a lot for a wide array of interests. It is located within a fifteen minute ride of Lowe's motor speedway. In addition there is the concord mills mall (the number one attraction center in North Carolina) only about fifteen minutes away. UNCC offers a wide array of arts for all tastes from broadway type production plays, art galleries, to divison one sports on campus.

It's close proximity to uptown and easy access make it a popular destination as well. With interstate 85 running through the area and 485 loop being completed in the area the University area makes getting around Charlotte and the surrounding areas convient. As well as having a major throroughway that leads you straigh into uptown Charlotte. Doing the ride the other day durng lunch hour took me 20 minutes to get to the center of uptown (very reasonable considering the time of day).

Schools in the University area are part of Charlotte Mecklenburg Schools. You can visit www.cms.k12.nc.us to find out which school is located in your area. Because of the growth of the area the University area is home to a few different schools depending on where you live.

With the area growing as much as it has in the past few years; the city has grown with the growth to the area. Bike trails along the roads are very common in that area and it is considered a walkable friendly area of Charlotte.

Homes in this area tend to be of single family 3+ bedrooms. The closer you are to the UNCC campus you will find more condos and townhomes. But as you venutre outside the immediate area of the Unviersity you will find the neighborhoods to be surburban middle class areas. Homes and condo prices in this area range from the $50,000 range all the way up to $675,000.

University area has a lot to offer ranging from affordable housing to a variety of activities within a short commute and easy access to uptown. With all the offerings the area has it is easy to see why the area is fast becoming a popular destiantion among families and young professionals...

Dave diCecco
Realtor/Broker
www.davedicecco.com

For the month of March 2010, here is the market report for the University area:

43 properties SOLD

Average Square feet = 2264

Average Bedrooms = 3

Average Baths = 2 full, 0 half

Average LIST price = $182,145

Average SOLD price = $175,531

The average SALES PRICE for the same month, one year ago (March 2009) was $161,889. That's an 8% increase! That's awesome!

If you are considering selling your home, or interested in purchasing in the University area, I'd love to discuss the local real estate market and your options to help you achieve your real estate goals.

Contact me at (866) 997-2463 or email RaineSpivey@Gmail.com.

You don't have to be a college graduate to make a smart investment! But buying a place in the University area in Charlotte, NC can be a valuable education in how to earn money every month as a landlord.

If you have a son or daughter that is going to be heading to UNC-Charlotte soon, consider buying a townhome or condominium instead of footing the bill for a dorm room or apartment. You'll have the tax write off as well as an investment that can pay for itself in the long run! Once your student finds a roommate to share the place with, you can collect rent from that person, which will pay for at least a portion of the expenses you'll be shelling out for your own student. Plus, once your child is working and can afford to pay you rent, you can add that to your income, too! If you decide to let your youngster live rent-free while in school, you can always wait until graduation to begin charging. Naturally, when your son or daughter graduates college and finds a career if he or she decides to stay in the property, you deserve the opportunity to finally begin reaping the benefits of landownership (and to get paid back for all those years of support).

If your offspring moves out, that's when you move into action. You have the option of either handling the renting yourself, or finding a rental management company in Charlotte, NC to do it for you. There are several good companies in Charlotte that will screen applicants, collect deposits, monthly rent, handle maintenance issues, clean and turn over the property between tenants, and pay you each month for simply owning the property.

Currently, in the University City area, there are several townhomes and condos available for under $120,000 that are two, three and more bedroom homes with at least two bathrooms. Most are always located in communities with swimming pools, which is important to young college students and makes them an attractive feature when renting.

Here is just one example of what you can get and keep for a long term investment. This particular property is located within walking and biking distance from campus in the Glenwater at University Place community. It's two stories with four bedrooms and three full bathrooms, a basement, neutral paint, new floors, vaulted ceilings, new light fixtures, an island in the kitchen and a large breakfast/dining area. In total, it has over 2,000 square feet of heated living space, is an end unit, and is only $115,000!

Go ahead and buy now in the spring time and have your son or daughter start college in the summer. Why? Because they can start with a quick summer course where they are in class for a bit longer than usual and they'll get closer to other students faster. They'll learn the campus while it's not overly crowded like the Fall semester and go ahead and knock out an undesirable class like math, science, or whatever they don't do well in. Summer classes give students the opportunity to really get in with the teachers and begin to know them well, too. (It never hurts to try and be teacher's pet!) The timing is perfect for you to make an investment on a new property, get your youngster moved in, and help them get an early start to school. The early bird catches the worm! When Fall semester comes around, your son or daughter will feel comfortable on campus and already have a few friends; unlike the newbies who have to wait until the last minute to get enrolled, moved in, and buy their books. It's a win-win situation for you and your college bound kid!

"You learn something every day if you pay attention." ~Ray LeBlond

For the month of March, the University area's market update is as follows:

56 Properties SOLD.

Average Square footage = 2242

Average Bedrooms = 3

Average Bathrooms = 2 Full, 0 Half.

Average List Price = $181,190

Average Sold Price = $173,912

Average Days On Market = 118

That's an 11% price increase from the previous month of February.

And a 7% price increase for the same month March a year ago, in 2009.

Looking Good University area!

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Looking to buy property in the University area, or would like more information before making your decision? Contact Raine Spivey, local real estate expert at (704) 641-5247 or email RaineSpivey@Gmail.com

All information is deemed accurate, but subject to correction.