Charlotte Region Rides Robust Economic And Regional Dynamics To Record Year
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SouthPark
Myers Park & Eastover
Lake Wylie & The Palisades
Providence, Weddington & Waxhaw
Ballantyne & South Carolina
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Charlotte Region Rides Robust Economic And Regional Dynamics To Record Year
The regional luxury real estate segment in and around Charlotte charged forward in 2024, capitalizing on the same dynamics that drove 2023 to record highs in closing and luxury pricing The region’s ultra-luxury segment above $2 million saw robust conditions with both Charlotte and Lake Norman seeing record setting deals in multiple areas In Charlotte, Ivester Jackson Christie’s brokered an estate sale in Greenwood at $8 4 million, while four more Ivester Jackson Christie’s agents brokered flagship homes at Lake Norman between $9 million and $12 million
The region saw increases of nearly 40% in sell-through above $2 million in list price, as both residential resales and new construction projects crested new price points at the top of the market In the mid-market range just above $1 million in value, south Charlotte and upstate South Carolina saw major increases in sell-through above 50% over 2023 ’ s fourth quarter, while the city’s usual suspects also showed mostly upticks in sell-through
Showing activity moving into January ran even to, or above, last year ’ s same period, pointing to another solid start to the luxury market’s 2025 season.
SOUTHPARK
Similarly to the other areas around Charlotte, the white-hot range remains the $1 million to $2 million range in the SouthPark area, with 43 homes selling in the fourth quarter vs 25 in the prior year ’ s quarter, a searing 76% increase in closings.
The ultra-luxury segment above $2 million in list price increased from 7 sales to 10 sales, showing continued strength as well. Inventory levels in both upper price segments were running just over 90 days’ absorption rates.
SOUTHPARK AREA Q4 HOMES
SOLD & SHOWINGS
MYERS PARK & EASTOVER
Perennially high demand Myers Park and Eastover continued to see increases in sell-through from 2023 ’ s year end to 2024’s fourth quarter Both the milliondollar range, and the segment above $2 million, saw 20 closings in the fourth quarter vs last year ’ s 15 in each price segment. Inventory remains tight, much like high demand Cornelius at Lake Norman, limiting sellthrough and possibly pushing some activity to other areas of Charlotte
MYERS PARK Q4 HOMES SOLD & SHOWINGS
LAKE WYLIE & THE PALISADES
While the lower mid-market activity in this area was pretty flat in the fourth quarter, with nearly the same sell-through compared to the same period of 2023, the million dollar plus market vaulted forward, nearly doubling unit sell-through from the prior year ’ s fourth quarter This is indicative of the strong regional economy, relative affordability of Lake Wylie vs Lake Norman, and availability of some new construction options The area does have reasonable inventory availability, giving buyers more options than in some other more constrained areas.
LAKE WYLIE & PALISADES
Q4 HOMES SOLD & SHOWINGS
PROVIDENCE, WEDDINGTON & WAXHAW
The popular highway 16 corridor out into Union County remained a solid choice for buyers, with both the mid-market and luxury ranges showing increases over 2023 ’ s year-end quarter. 68 homes traded over $1 million, nearly double the previous year ’ s total, while the area rolled into 2025 with another 25 luxury pending contracts on remaining inventory of 32 properties Showing request activity in the MLS ran approximately 10% ahead of last year ’ s December, pointing to another solid first quarter start.
PROVIDENCE,WEDDINGTON & WAXHAW Q4 HOMES SOLD
& SHOWINGS
BALLANTYNE & SOUTH CAROLINA
The border communities along Lake Wylie continued to attract high interest, particularly in the $1 million to $2 million range, with 37 homes trading in the fourth quarter vs 19 in the 2023 fourth quarter period. Equally impressive, the area rolled into 2025 with another 29 pending contracts, with just 17 homes left in active inventory Showing activity also ran ahead of last year ’ s activity during the same period, another forward indicator of solid demand.
BALLANTYNE & SOUTH CAROLINA Q4 HOMES SOLD & SHOWINGS
CENTER CITY LUXURY CONDOS & TOWNHOMES
The city’s red-hot townhouse/condo market around the 277 beltway actually cooled a little bit in 2024’s fourth quarter. This segment can also be dictated by when new construction options obtain their certificates of occupancy, spurring flurries of activity That said, the closings in the fourth quarter of 22 units under $1 million compared to inventory of 17 units, are still very healthy, with 9 showing as pending contracts. The luxury range over $1 million in price range saw 3 closings, with 10 pending and 14 units remaining in inventory, so very healthy ratios.
CENTER CITY CONDOS & TOWNHOMES Q4 HOMES SOLD
some uncertainty has crept into the financial markets, driving up short term interest rates, as more clarity emerges regarding the impact of economic and government fiscal policy, there should be an opportunity for continued robust activity in Charlotte’s luxury real estate market. Several high water marks were achieved in 2024, with the region’s first residential resale closings above the $10 million mark. The region now sports multiple estate home listings between $10 million and $20 million, and it’s likely that Lake Norman will continue to see record setting activity with Charlotte trending in a similar direction in terms of new pricing thresholds. The market above $2 million in list price remains very strong, with 2024 producing a record 300+ sales in the Charlotte and Lake Norman areas.
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