Home values spiking in Sedgefield neighborhood

image

Many homes in the South End neighborhood are being remodeled or torn down to be replaced with multi-million dollar houses.

CHARLOTTE, N.C. — Sedgefield is a popular South End neighborhood that looks a lot different than it did 10-20 years ago. A realtor and homeowner in the neighborhood told WCNC Charlotte the market there is, “super hot.”

The neighborhood is home to houses big and small, old and new. On almost every street, small cottages are being flipped into multi-level modern houses. 

“There’s definitely a market for higher-end houses,” homeowner and realtor Michael Seaton said. He added that Sedgefield’s market has been doing well for years, but more teardowns are happening than ever. 

“Prices are higher and they’re still getting flipped and they’re still getting torn down, and I don’t see that stopping,” Seaton said.  

There are currently several construction projects and nine active real estate listings in the neighborhood. 

For the latest breaking news, weather and traffic alerts, download the WCNC Charlotte mobile app and enable push notifications. 

“As long as they’re priced correctly and they show well, they move fast,” Seaton added. He showed an example of a house selling in 20 days for $2.6 million in cash in the spring of 2023.

Seaton bought his house in 1997 for less than $100,000. Now, properties nearby are going for more than $600,000 solely for the land.   

According to MLS data, a single-story house on Sedgefield Road sold in 2018 for $636,000. This year, it sold for $1.25 million. 

“The tax values; they have been escalating as the years have gone by,” said homeowner Rick Langford.

The higher home values mean homeowners have to pay higher property taxes. Langford said it’s something almost every homeowner must face in the growing Queen City. 

You can stream WCNC Charlotte on Roku, Amazon Fire TV and Apple TV, just download the free app.

“I’ve been able to manage,” said Langford. “Some people have not been as fortunate.” 

Seaton said Sedgefield is booming mostly because of its location. 

“As you get closer to the city, the appreciation goes up,” he explained. 

Anyone struggling to pay their property taxes may be able to get help from the county’s HOMES Program. The goal is to prevent people from being pushed out of their homes because they can no longer afford the taxes.  

The deadline to apply for assistance this year is December 15.  

For more information on the HOMES Program, visit the link above. You can also email [email protected] or call (980) 314-HOME (4663). 

Contact Julia Kauffman at [email protected] and follow her on FacebookX and Instagram

[embedded content]

Sign up to receive the best Underground art & real estate news in your inbox everyday.

We don’t spam! Read our privacy policy for more info.

This post was originally published on this site