Elizabeth is a great place for young professionals. In fact, it was ranked in the top 5 neighborhoods for young professionals in Charlotte as ranked by Niche, a Pittsburgh-based research and review site. Elizabeth has long been a hip spot to hang out during the day, or evening as there are live music venues, bars, restaurants, and parks.
Founded in 1891, Elizabeth was one of the city’s oldest streetcar suburbs. The original streetcar line ran along what is now Elizabeth Avenue and served Elizabeth College with a streetcar spur. Later there were additional trolley lines along Hawthorne Lane, Seventh Street, and Central Avenue in the 1920’s. The current area of Elizabeth spans five early subdivisions that were served by those trolley lines.
The neighborhood continues to be popular as a major business and residential area. It is more residential now, but still includes businesses such as the Visulite Theater, the first movie theater in the area, now a nightlife spot for nightly live music. Elizabeth is also home to great restaurants such as Carpe Diem and Volare Italiano Ristorante, Cajun Queen, The Fig Tree Restaurant, Sunflour Bakery, and Crisp to name a few. There are bakeries, bars, restaurants, ice cream shops, and boutique shops in a walkable area.
To get to Elizabeth from Uptown Charlotte, simply follow Trade Street Southeast out of town until it becomes Elizabeth Avenue. A streetcar line will still take you to the heart of Elizabeth, and is a great way to commute to an Uptown job or to enjoy nightlife Uptown. Anchoring the community is Independence Park with picnic areas, walking trails, a reflecting pool, and rose garden.
Homes in Elizabeth range from stately mansions to newer towers of condominiums. The single family homes are large and most include front porches perfect for enjoying the neighborhood and your neighbors. There are some mansions in the neighborhood, a throwback to earlier times. Most of the homes have craftsman style details which show from the front, but are also evident in the woodwork throughout the homes. There are also townhomes and condominiums gracing the tree lined streets.
With the variety of types of homes comes a variety of prices for these homes. In the last year, single family homes sold for between $405,000 to $1,395,000 with the average sale price of $671,368. There are currently 8 homes on the market representing a 3.1 month supply of inventory. A balanced market between buyers and sellers is typically considered to be a 4-6 month supply. These homes are desirable and don’t spend long on the market.
When you look at the condo/townhome segment of the market, last year they sold for between $120,000 and $1,256,562 with the average sale price hitting just under $350,000. There were more condominiums that sold in the past year with 41 sales. There are currently 22 condos and townhomes on the market ranging in price from $224,900 for a 2 bedroom 1.5 bath all the way to $1,395,000 for a new construction luxury townhome with 5 bedrooms and 5 bathrooms and over 4,000 square feet. With this variety, it is clear that Elizabeth will continue to appeal to a wide range of buyers.