Charlotte Homes For Sale Homes Sold over $1M

Charlotte, NC

How is the over-built million dollar plus market doing? Struggling, to be kind.

Charlotte Homes For Sale- Over $1Million

In the 9 county area I call the greater Charlotte area, there are 851 homes for sale over $1Million, the average days on market is 214, average price of $1,761,687.

Charlotte Homes Sold Over $1Million

6/1/09-8/31/09 Summer, 2009

There were 59 Homes Sold over $1M in this 90 day period, down from the 93 sold the summer before, off 36%. Home prices were relatively stable, falling form an average $271/sf to $261/sf, or a 4% fall off.

With over 850 on the market, this is right around a 42 month absorption rate – yes that means its a strong Buyers market, compared to about 10 months Charlotte homes overall in the 9 county area of greater Charlotte.

Where were the luxury home sales in the greater Charlotte area?

Eastover	5	Longview	2
Cottswold	3	Highgate	2
Myers Park	6	Skyecroft	1
Foxcroft-old Foxcroft	5	The Point	8
Stonegate	3	The Peninsula	2
Quail Hollow	2	Misc Lake Norman	10
Ballantyne Country Club	1	Lake Wylie	3
	25		28

You could say these are the blue chip areas- half in Charlotte proper, the other half at one of the Lakes or Union County. The most expensive homes, on average, were at Lake Norman at $1.7M, Eastover the “least” at $1.35M. Lake Wylie had one waterfront sale at $1.53M, and 2 just over $1M.

So far, there have not been tons of foreclosures in this price range, but with 850 for sale, will that continue? If only 5% are in trouble, that’s 42 houses. Stay tuned.

Where did they all come from? I think mostly junk loans created false demand, and now just way too many were built. We’ve made some great deals this summer, if you looking at a luxury home in Charlotte, lets talk, and lets find you the next great deal.

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The McDonald Team works for our Buyer Clients as Exclusive Buyer Agents- our Agents won’t show you a house with their name on it, so we’ve got your back covered every step of the way, A -Z. We’ll keep the other players on track, and help get you into your latest luxury home. Watching your back includes specific price research for homes and neighborhoods, negotiating strategies that fit your comfort level and listening to all you say you are looking for, and the unsaid too! From the first look, through closing, we are with you 100% of the way… and we love getting great deals on luxury homes in Charlotte!

A smart buyer and a good Buyer agent Make GREAT Deals happen! Call us today, 704-351-1519