What’s the Charlotte Luxury Real Estate Market Doing During This Economy?
Surprisingly well! We’re seeing more and more high-end homes selling quicker than during the past 2-3 years and with interest rates at a historic low (yes, even jumbos!), you just can’t go wrong!
The Market Absorption Trend is the best indicator for sharing supply and demand in a particular real estate market/product. The graph below displays the trends for luxury homes (single family) only in Charlotte NC and over $500,000 (deemed luxury in our market).
We Closed more luxury homes in the area year-over-year during 2011 and noted a reduction in sales prices but, sellers did garner a higher list-to-sales price ratio than in 2010.
The supply is down considerably (nearly 30%) in the luxury market in Charlotte (2011 vs. 2010). Days on the market have also been reduced dramatically in 2011 and price per square foot is up a bit as well.
If you’re considering a luxury home purchase, NOW is the time! We’re seeing an increase in sales, decrease in supply and with the current interest rates, you’d better close in on that luxury home for sale in Charlotte NC!
Search luxury homes for sale in Charlotte NC (single family only)
[idx-listings city=”Charlotte” minprice=”550000″ propertytypes=”1972″ orderby=”DateAdded” orderdir=”DESC” count=”50″ showlargerphotos=”true”]