My affiliation with the Institute for Luxury Home Marketing allows me exclusive access to reports on the luxury home market. Each month I'll post a full report from the Institute for Luxury Home Marketing with a short breakdown of our specific area's updates. My goal is to provide you this information for your home search or when making decisions to sell!
Based on September's monthly data released in the October report, the Charlotte Market is holding strong in the luxury home market, even in the midst of a global pandemic:
Median List Price - $1,905,000
Median Sold Price - $820,000
Inventory - 570
New Listings - 149
Sold - 369
Days on Market - 19
Market Status - Seller's
“Our findings indicate that demand has increased substantially for larger properties – those that were previously viewed as too labor-intensive and expensive to run and manage, are now the prime target. It further explains why resort and smaller communities have increasingly seen their luxury properties become more popular, as they can offer more space and quick access to outdoor activities, and why amenities such as swimming pools, previously being filled-in, are once again top of the ‘must-haves’ list.” - Institute for Luxury Home Marketing
Click here to access a PDF of the full Luxury Market Report from October 2020.