Charlotte region luxury home sales maintained strong momentum in June 2021 with a huge 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 Remained Strong In June 2021
Latest news on Charlotte Region’s luxury housing market in June and what it means for you…
Charlotte Region’s single family luxury homes real estate market remained strong in June 2021 compared with June 2020. For homes priced above $750,000, the Charlotte region saw astonishingly higher closed sales and higher pending sales, even in the face of a 44.8% 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. Median sale prices were down slightly and average sale prices were flat year-over-year. This may be less due to lower luxury home values and more due to the price mix of luxury homes listed and sold compared with one year ago.
Thus far it does not appear that luxury home buyers have “given in” to buyer fatigue and a “wait and see” position, despite frustrations caused by multiple offers, declines in inventory, and the lack of inventory we’ve seen in the year to-date.
Luxury Housing Market Snapshot For Single Family Homes: Charlotte Region June 2021:
- Homes Sold: 430 in June 2021, up 110.8% compared with June 2020.
- Pending Sales: 363 in June 2021, up 24.3% compared with June 2020.
- New Listings: 419 in June 2021 up 33.0% compared with June 2020.
- Inventory of Homes: down 44.8% to 512 in June 2021 compared with June 2020.
- Months Supply of Homes: down 67.9% with 1.8 months supply compared with 5.6 months supply in June 2020 and 7.8 months supply in June 2019.
- Average Days on Market: 21 days in June 2021 compared with 67 days in June 2020 and 68 days in June 2019.
- Median Days on Market: 4 days in June 2021 versus 31 days in June 2020 and 23 days in June 2019.
- Average Sale Price: flat at $1,182,048 in June 2021 compared with $1,182,330 in June 2020.
- Median Sale Price: down 1.9% to $977,500 in June 2021 compared with $996,450 in June 2020.
- Median % Of List Price Received: up 4.4% to 101.1% in June 2021 compared with 96.8% in June 2020.
The most expensive home sold in the Charlotte Region in June 2021 sold at $6,250,000 in The Peninsula on Lake Norman (Cornelius). Built in 2007, this basement, estate home is situated on 1.3 private, waterfront acres with water views from every room. With 9,894 square feet of heated living area, it features 6 bedrooms, 6 full bathrooms, 3 half bathrooms, elevator, heated floors, chef’s kitchen, wine cellar, billiards room, exercise room, multiple fireplaces. The outdoor living space features a pool/spa, outdoor kitchen with pizza oven, fire pit, outdoor fireplace. With 550 feet of water frontage, the home provided a sandy beach, a private floating dock with automatic boat cover.
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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 June 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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