Southpark – Page 12 – New Angle Realty

February 8, 2016

Spotlight on Wessex Square

If you want a beautiful, mature neighborhood close to SouthPark but don’t quite have the Foxcroft or Myers Park budget then take a look at Wessex Square!

Built in the 1980s, the 241-home neighborhood is full of mature trees and 1.5-2 story homes ranging in size from about 1,700 square feet to 2,800 square feet.

Wessex Square is located off Rea Road between Cedarwood Country Club and Carmel Country Club. Colony Place shopping center is right down the street, and the neighborhood is convenient to both SouthPark Mall as well as Carolina Place Mall, which is a few miles west down Pineville-Matthews Road (Highway 51). Just across Highway 51 is the Arboretum Shopping Center.

Home prices in Wessex Square range from about high $100,000s to mid-$300,000s. The highest sold price in the last 12 months was $365,000.

The average sales price for the 26 homes sold in the last 12 months is $283,365. Expect to pay about $129 per square foot for a home in Wessex Square, which is the average for the last 12 months.

Currently, there is only 1 home on the market in Wessex Square, and it is under contract. An average of 2.2 homes sell per month in the neighborhood, which is 2 weeks inventory for the market.

Homes in Wessex Square have sold for an average of 97.8% of list price in the last year.

Neighborhood schools are among the city’s best rated – Old Providence Elementary School, Carmel Middle School and Myers Park High School.

Location, affordability and maturity make Wessex Square a great choice to buy a home, even a first home!

January 20, 2016January 20, 2016

City Council OKs SouthPark redevelopment

The face of SouthPark is set to grow and change again after the City Council approved Jan. 19 a redevelopment plan that would raze and redevelop The Colony apartments, adding hotel, retail and residential space.

The $400 million plan passed unanimously, even with council members’ concerns regarding impact on the already-congested area. The new planned space will include more affordable housing and benefit the area, according to a Charlotte Observer report.

Fifty-five of the proposed 990 apartments will be designated affordable housing by the developers, the report said.

The project will turn the 27-acre, 353-unit Colony apartments into one of the largest mixed-use projects in the city.

In addition to building changes, the project will improve surrounding streets, traffic lights, turn lanes and pedestrian crossings.

Approved in the plans is a “225-room hotel, 250,000 square feet of office space and 300,000 square feet of retail space, including a grocery store,” the report said.

Construction could begin early 2017. The first phase would most likely include a grocery store, retail and apartments.

For more, see The Charlotte Observer report.

January 12, 2016January 14, 2016

Mountainbrook: SouthPark’s hidden gem

Drive into one of Mountainbrook’s two entrances off Sharonview Road and you’d never know you are only a few minutes from SouthPark Mall, Phillips Place and the hustle and bustle of Sharon and Fairview roads.

It’s a quick drive to SouthPark and just 10 minutes from Uptown. In addition, the private Mountainbrook Swim & Racquet Club is right in the neighborhood. Members can play tennis or swim recreationally or competitively. The club also keeps an active social calendar of activities for children and adults.

Entering Mountainbrook, visitors will notice the topography changes drastically. The flat, urban areas give way to heavily wooded lots with streets that meander along hilly terrain carved by stream beds. As a result, you won’t find your sprawling grassy back yard here. Most back yards are steeply sloped and heavily wooded.

Homes in Mountainbrook primarily were built in the 1950s to 1980s and display the architecture of their era – from a few quirky A-frame-style homes that appear to float in the treetops to fabulous mid-century homes renovated true to the era. There are also traditional ranches and some 60s Georgians.

Currently, only 1 home is on the market in Mountainbrook, and it is under contract. An average of 1.6 homes sold per month in Mountainbrook during the last 12 months. That is less than a month’s inventory for the neighborhood. Nearby Giverny has 6 months of inventory. Charlotte and Mecklenburg County have 3.9 months inventory.

The highest sold price for the last 12 months is $560,000. The lowest sold price is $225,000. The average off list price for the 19 homes sold in the last 12 months was 3.1%. The average sales price is $412,874, with an average price per square foot of $145.35.

If the charm of an older home is more your style then take a drive through Mountainbrook. One of the most important home-buying choices is location and Mountainbrook is one of the best in Charlotte!