Mecklenburg tops in condo sales, prices

07/31/2014 4:21 PM

07/31/2014 4:22 PM

In which county were the most condos and townhouses sold in the area during the first six months of this year?

OK, that was easy. It’s Mecklenburg, of course, with 1,594. It’s the most urban and the most populated, so that only makes sense.

So, which county is No. 2? Is it Union or Cabarrus? Suburban development spills across those county lines so much that it’s sometimes hard to tell where one county ends and another begins.

No – it’s York County, S.C., with 250. And it’s not even close. Iredell is next with 74.

I received lots of information about multifamily home sales while working on a story. The sales figures are from Carolina Multiple Listing Services, for condos and townhouses sold through the MLS for the first half of the year. The figures paint an interesting picture of how multifamily development is growing across the area, especially in uptown Charlotte and suburban spots within easy commuting distance.

Which Mecklenburg complex saw the most sales, and which saw the highest prices? I’ll get to those in a moment. Meanwhile, here are some tidbits to help fill in the picture:

• Mecklenburg had not only the most multifamily sales, but multifamily sales in the county also accounted for the largest share of the market. Condos and townhouses made up 21 percent of the overall home market in Mecklenburg. In York it was 16 percent, and in Iredell 7 percent.
• The busiest complex in York was Cole Creek, with 13 units sold. It’s in Fort Mill between Pineville and Interstate 77. The average price was $117,831.

Two complexes, Summerlake and Woodland, had a dozen sales each.

• In Iredell, there were 15 sales at Waterlynn at an average price of $158,774. Waterlynn is off U.S. 21 south of downtown Mooresville, not far from I-77. (Think a few folks there, as in Cole Creek, might commute to Charlotte?)

Emerald Green, Morrison Plantation and Sunridge Place each had a half dozen sales.

• In Mecklenburg, the busiest complex was Skye condo tower at Third and South Caldwell streets in uptown Charlotte. It had 33 sales at an average price of $357,394.

The second busiest was Park South Station, off Archdale between Park Road and South Boulevard. There, 24 units sold for an average of $229,660.

No. 3 was back uptown: The Avenue condos, where 21 units sold the first half of the year.

• The most expensive multifamily complex in Mecklenburg during the first six months of the year? It was The Trust uptown, at $1.9 million. (Cam Newton bought a place in the building for $1.6 million – a relative bargain.)

Second was Rosewood at Providence, at $820,943. Rosewood is at Providence and Sharon Amity roads on the former Rowe estate. (And named for Mr. Rowe’s signature roses.)

Third was The Ratcliffe uptown, overlooking The Green on South Tryon, at $744,250.

About Allen Norwood

Allen Norwood

Allen Norwood

Allen Norwood writes on Home design, do-it-yourself and real estate for The Charlotte Observer. Email Allenat homeinfo@charter.net.

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