Neighborhood Spotlight: Historic Elizabeth
Historic Elizabeth is easily one of the most beautiful neighborhoods, not only in Charlotte, but in the entire country. This historic community of charming homes was founded in 1897, while the majority of the neighborhood was established in the early 1900s and maintains much of its character today. Elizabeth features Charlotte’s first neighborhood movie theater, and it is the city’s second oldest streetcar suburb. It is a major business and residential area that is home to local boutiques, upscale restaurants and a variety of entertainment venues.
Located southeast and just outside of Uptown, homes in the neighborhood vary from quaint bungalows to stately brick mansions. Recently, new condo and town home developments have been built in the neighborhood as well. Elizabeth offers the perfect mix of modern trends and historic charm.
There are currently seven homes on the market in Elizabeth, which represents 3.5 months of inventory. This level of inventory is on par with the city of Charlotte as a whole, which currently has 3.7 months available. This low inventory is indicative of the strong seller’s market in the area.
It is interesting to note, however, that the average price per square foot over the last year, and particularly over the last nine months, has been dropping. The average price per square foot over the last 12 months was approximately $251 and over the last three months has dropped to approximately $206.
Furthermore, the average seller discount has gone up dramatically over the last year and has averaged 9.37% in the past three months. Despite low inventory, the change in the average price per square foot as well as the average seller discount bodes well for buyers.
Homes currently on the market range in size from approximately 2,000 square feet to over 4,400 square feet and range in price from $499,000 to almost $1.1 million.
Elizabeth’s central location and easy access to everything in Charlotte, as well as it’s local conveniences and charm make it one of the most sought-after neighborhoods to live in. This established community of beautiful homes and tree-lined streets is a favorite in the Queen City.