Not really but we did finally get a Downtown Social District. The North Carolina General Assembly passed Session Law 2021-150 in 2021 allowing cities to create “social districts” where individuals over 21 can buy an alcoholic beverage from licensed establishments (i.e. bars, breweries, restaurants) and consume to-go drinks within a designated common area and within participating businesses. On May 16th, the Mooresville Town Board approved the creation of a Social District within Downtown Mooresville.. Here’s a map showing the boundaries. I am surprised that The Beer Lab and Savannah (coming later this year) were excluded from the district especially given their proximity to the heart of downtown.
New Home for Pie in the Sky
If you’re new to Mooresville, or if you’ve never had the luxury of standing in line at the downtown DMV where they were originally located, then you’ve probably have never heard of Pie in the Sky Pizza. Pie in the Sky is authentic NY pizza and a staple for 35+ years in Mooresville. They will be moving soon to the old Kims Cleaners building on Main St once renovations are complete. Kims Cleaners is (was) located beside the new apartment building currently under construction. It will certainly be a more visible location and I love seeing old retro style buildings being repurposed instead of town down!
Market Snapshot
On a National level, the supply of homes for sale is growing, up 27% at the start of September compared with the same time a year ago. While that comparison seems large, it’s still not enough to offset the years-long shortage of homes for sale. Active inventory is still 43% lower than it was in 2019. New listings were also down 6% at the end of September.
In Mooresville, Despite all of the new apartment ground breaking, we are still roughly 10,000 homes short compared to demand. From a purely aerial perspective it seems that inventory is still incredibly low but up from a year ago. Buyer frenzy seems to have waned a bit on your average homes but the more rare homes are still bringing multiple offers. Pending and closed sales are down from a year ago. For the seller, your towering pile of poker chips will likely get smaller in the coming months. For the buyer, things should start to “normalize” a bit and become less competitive. I believe that there should always be a good balance and I think that we’re heading back in that direction. Here’s a snapshot of August in Iredell County.
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Not really but we did finally get a Downtown Social District. The North Carolina General Assembly passed Session Law 2021-150 in 2021 allowing cities to create “social districts” where individuals over 21 can buy an alcoholic beverage from licensed establishments (i.e. bars, breweries, restaurants) and consume to-go drinks within a designated common area and within participating businesses. On May 16th, the Mooresville Town Board approved the creation of a Social District within Downtown Mooresville.. Here’s a map showing the boundaries. I am surprised that The Beer Lab and Savannah (coming later this year) were excluded from the district especially given their proximity to the heart of downtown.
New Home for Pie in the Sky
If you’re new to Mooresville, or if you’ve never had the luxury of standing in line at the downtown DMV where they were originally located, then you’ve probably have never heard of Pie in the Sky Pizza. Pie in the Sky is authentic NY pizza and a staple for 35+ years in Mooresville. They will be moving soon to the old Kims Cleaners building on Main St once renovations are complete. Kims Cleaners is (was) located beside the new apartment building currently under construction. It will certainly be a more visible location and I love seeing old retro style buildings being repurposed instead of town down!
Market Snapshot
On a National level, the supply of homes for sale is growing, up 27% at the start of September compared with the same time a year ago. While that comparison seems large, it’s still not enough to offset the years-long shortage of homes for sale. Active inventory is still 43% lower than it was in 2019. New listings were also down 6% at the end of September.
In Mooresville, Despite all of the new apartment ground breaking, we are still roughly 10,000 homes short compared to demand. From a purely aerial perspective it seems that inventory is still incredibly low but up from a year ago. Buyer frenzy seems to have waned a bit on your average homes but the more rare homes are still bringing multiple offers. Pending and closed sales are down from a year ago. For the seller, your towering pile of poker chips will likely get smaller in the coming months. For the buyer, things should start to “normalize” a bit and become less competitive. I believe that there should always be a good balance and I think that we’re heading back in that direction. Here’s a snapshot of August in Iredell County.
