What’s going on in the high-end market? It’s a tale of two cities—Under about $1.1 million vs. over $1.1 million.
There were 1,235 total showings for homes priced between $725,000 and just under $1.1 million, according to Angela Standish, sales manager for Allen Tate’s Lake Norman and Davidson offices. For houses priced at just under $1.1 million to $1.45 million, there were 413 showings, according to Allen Tate.
Between $1.8 million and $3.26 million—the heart of Charlotte’s super luxury market—there were 131 showings. Average DOM for houses over $3 million is almost a year, Standish says.
Nevertheless, the high-price abodes are selling, it just takes patience, marketing and the right price.
In the starkest national terms, the number of houses priced below $100,000 fell 8.6 percent in January compared to January of 2015. Meanwhile the number of homes priced $1 million and above rose 15 percent.
Economists say high-income buyers are more sensitive to the stock market than entry-level buyers.
A house at 17130 Freshwater Lane in The Peninsula has sold for $1.875 million after being on the market most recently for 182 days. Dixie Dean of Allen Tate Co. listed the 7,892 square-foot house for $1.99 million; the tax value is $2.24 million. The house sits on 1 acre of lakefront property, within walking distance of The Peninsula Yacht Club. Features include braided crown moldings, rounded walls and an infinity pool. There is a four-car garage, as well as a circular driveway. Cumulative days on market: 486. Dean also represented the buyers.
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A house in Wright’s Emerald Cove, just off Bethel Church Road, sold the same day it was listed. Complete with an “outdoor resort” that includes a saltwater pool, the 4,674 square foot house was listed at $939,000 by Dixie Dean and sold for $885,000. Anita Sabates, also with Allen Tate, represented the buyers. The European-style house has a master and office on the main floor, not to mention a sports bar and billiard room. The tax value is $716,000.
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A spectacular contemporary at the end of Jetton Road has sold for $1.55 million after being listed by Jay Martin of Martin & Company Homes for $1.725 million. The lakefront house, just around the bend from the entrance to the harbor at The Peninsula Yacht Club, was on the market for a little over three months. The tax value is $1.26 million. It has a sandy beach, a two-story great room, a unique presence and exceptional views. Lori Jackson of Ivester Jackson Distinctive Properties, represented the buyers.
A house at 15600 Deerhaven Court in Runnymede has sold for $655,000 after being listed for $699,000 by Julia Lopez of Ivester Jackson Distinctive Properties. The house, which sits on nearly two acres of property, has a two-story living room, a vaulted breakfast room and a man-level master bedroom with a spa-like bath. The tax value of the house is $611,500. Mary Lib Richards of Keller Williams Huntersville represented the buyers.
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A house at 216 Edgewater Park St in the Lake Davidson Park neighborhood has sold for $670,000 after being listed at $695,000 by Jim Richards of Keller Williams Huntersville. The 3,000 square-foot house, with double front porches and a view of Lake Davidson, was on the market a grand total of four days. Dawn Lassiter of Lake Norman Realty, represented the buyers of the houses, which is assessed at $437,600.