Charlotte region luxury home sales improved in July 2021 with a significant increase in closed sales. Inventory and the months supply of single family luxury homes were significantly down, as were average and median days on market. The luxury home market in Charlotte region remains a seller’s market compared with one year ago when it was more of a balanced market based on the months supply of luxury homes.
Charlotte Region’s Luxury Home Market Improves In July 2021
Latest news on Charlotte Region’s luxury housing market in July and what it means for you…
Charlotte Region’s single family luxury homes real estate market improved in July 2021 compared with July 2020. For homes priced above $750,000, the Charlotte region saw higher closed sales and higher pending sales, even in the face of a 42.1% decline in inventory. This low level of inventory has not been seen in well over a decade. Days on market, both average and median, also were down significantly year-over-year, as was the months supply of inventory. Luxury home sellers continued to see a higher sale price as a percent of listing price. Both median and average sales prices increased year-over-year.
Earlier this year there was concern that luxury home buyers might “given in” to buyer fatigue and take a “wait and see” position due to frustrations caused by multiple offers, declines in inventory, and the lack of inventory. Thus far this does not appear to be the case.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region July 2021:
- Homes Sold: 356 in July 2021, up 38.5% compared with July 2020.
- Pending Sales: 362 in July 2021, up 26.1% compared with July 2020.
- New Listings: 420 in July 2021 up 23.5% compared with July 2020.
- Inventory of Homes: down 42.1% to 525 in July 2021 compared with July 2020.
- Months Supply of Homes: down 65.4% with 1.8 months supply compared with 5.2 months supply in July 2020 and 7.3 months supply in July 2019.
- Average Days on Market: 27 days in July 2021 compared with 68 days in July 2020 and 67 days in July 2019.
- Median Days on Market: 5 days in July 2021 versus 32 days in July 2020 and 33 days in July 2019.
- Average Sale Price: up 0.8% at $1,186,553 in July 2021 compared with $1,177,710 in July 2020.
- Median Sale Price: up 2.6% to $1,011,000 in July 2021 compared with $985,000 in July 2020.
- Median % Of List Price Received: up 3.6% to 100% in July 2021 compared with 96.5% in July 2020.
The most expensive home sold in the Charlotte Region in July 2021 sold at $5,300,000 on Lake Norman. Built in 2018, this basement, contemporary-style, estate home is situated on 1.66 private, waterfront acres with stunning water views. With 9,949 square feet of heated living area, it features 6 bedrooms, 6 full bathrooms, one half bathroom, chef’s kitchen, great room with lake views on three sides. The outdoor living space features a pool/spa, outdoor kitchen with pizza oven and Sedona grill, stone fire pit, outdoor fireplace, covered boat slip.
Want to know what this would mean for your family if you decide to buy or sell a Charlotte region luxury home?
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MEDIAN SALE PRICE TRENDS FOR LUXURY HOMES IN THE CHARLOTTE REGION
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This Charlotte region luxury housing market update for July 2021 is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area luxury residential real estate experts serving Charlotte area luxury home buyers and sellers for 20+ years.
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