Charlotte 2025 Q1 Luxury Market Report

IVESTER JACKSON | CHRISTIE'S

LUXURY MARKET REPORT &

Charlotte | Q1 2025

Charlotte Luxury Market Marches Forward Amid Signs of Potential Changes

Charlotte’s luxury real estate market, which has been on a tear for the past 20 quarters, continued to show signs of strength moving into the second quarter This is despite some symptoms that could point to a slowing in some segments should volatility persist in the financial markets The city’s real estate market matched Lake Norman by piercing the $10 million mark recently with several high end listings now active in the $10 to $15 million range

While showing request activity from agents has remained solid amidst the recent stock market sell off, there have been some signs of at least a temporary timeout from some buyers waiting to see whether further market volatility continues into the high selling seasons Showing activity in the higher end luxury segments did show some tapering above $2 million, although showing appointment requests continued to bubble up at some of the region’s highest priced listings This is indicative of that category’s buyer being less effected than some of the other luxury ranges

Across the Charlotte region’s various key communities, some areas showed solid showing request activity, while others displayed some recently formed weakness. While this appears to be related to the recent trade related volatility, in recent years it has taken sustained disruption to knock luxury consumers out of the market and for the most part, those periods have not manifested in the post-covid real estate market. Inventory numbers relative to pending contracts also remained very low which should give the market some insulation against price erosion in the near future

SOUTHPARK

The area below SouthPark showed robust conditions in the luxury price ranges, as buyers gobbled up listings in both the million and $2 million plus ranges, sell-through nearly doubling 2024’s results in both of these key luxury price points. The area also headed into the spring quarter with significant pending contracts in both price points as South Charlotte continues to be one of the area ’ s destinations of choice for luxury buyers Large lots, new construction infill projects, and remodeled estate homes were all in high demand

SOUTHPARK AREA Q1 HOMES

SOLD & SHOWINGS

MYERS PARK & EASTOVER

As has been the case in the past year or two, limited supply of inventory in this always high demand area limited sellthrough results Supply under $1 million is basically nonexistent, while inventory above $1 million in list price exists in slim quantities. As some inventory did come on the market it was quickly snapped up, with pending contracts now doubling active inventory in the popular $1-$2 million range The area also recently breached the $10 million mark with a record sale in Eastover

MYERS PARK Q1 HOMES SOLD & SHOWINGS

LAKE WYLIE & THE PALISADES

Another solid quarter in this area with unit sell-through running very similarly to 2024’s first quarter, and the million dollar plus market actually seeing a slight increase. Inventory levels in this area have risen over the past two quarters, yet still remain fairly healthy by historic standards with roughly 2-3 months of inventory showing as we head into what is typically the busiest buying time of the year.

LAKE WYLIE & PALISADES

Q1 HOMES SOLD & SHOWINGS

PROVIDENCE, WEDDINGTON & WAXHAW

The highway 16 corridor out into Union County had mixed results compared to 2024’s first quarter The sub-million range saw a solid 10% increase while the million plus market showed a decline. Interestingly though, the spring market kicked in and the area now sports 47 homes pending over $1 million in list price, on remaining inventory of just 33 units. All of this points to some very competitive conditions for buyers this spring who could see multiple offer situations in this area and price range.

PROVIDENCE,WEDDINGTON & WAXHAW Q1 HOMES SOLD

& SHOWINGS

BALLANTYNE & SOUTH CAROLINA

The area south of the state line below Charlotte continued to display solid fundamentals, with sellthrough in both the sub-million and million dollar plus markets exceeding last year ’ s first quarter 42 homes traded over $1 million in list price compared with 25 in the same period last year, a robust increase over 64% year-over-year. The area also ended the quarter with pending contracts almost equal to active inventory, indicative of roughly 45 days of absorption Showings tapered somewhat so it will be interesting see if any meaningful pause in demand occurs.

BALLANTYNE & SOUTH CAROLINA Q1 HOMES SOLD & SHOWINGS

CENTER CITY LUXURY CONDOS & TOWNHOMES

The market around the center city luxury condo and townhome area cooled somewhat in the first quarter with sell-through dropping below that of 2024’s first quarter Some of this is a function of limited inventory coming on the market, while the luxury market did show healthy pending contracts to total inventory of almost a 1:1 ratio, which is indicative of inventory being absorbed as it comes online.

CENTER CITY CONDOS & TOWNHOMES Q1 HOMES SOLD

in recent years and its spring market should once again surge forward

The city’s luxury real estate market has thrived in recent years, as Charlotte’s dynamic business environment and overall appeal has attracted national attention. Any luxury consumer activity is somewhat tied to the financial markets, albeit our observation is that after 10 years of robust luxury consumer spending activity, American consumers have remained pretty resilient to temporary volatility. Uncertainty is not looked upon favorably by the financial markets, and after recent volatility the area has seen at least a temporary decline in some luxury showing request activity on the part of realtors and their buyer clients. This has not been across the board at this point, and given some inferences to potentially more collaborative measures starting to surface, the spring real estate market should once again surge forward. Given what in some areas are limited inventory positions, it's likely we may in fact even see some multiple offer situations, but much of that will be dependent upon a return to more predictable outcomes that the financial markets can digest.

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Charlotte

1515 Mockingbird Lane, Suite 900

Charlotte, NC 28209

Lake Norman

21025 Catawba Ave, Suite 101

Cornelius, NC 28031

North Shore

350 Morrison Plantation Parkway, Suite C1

Mooresville, NC 28117

Asheville

18 S Pack Square

Asheville, NC 28801

Wilmington 527 Causeway Drive

Wrightsville Beach, NC 28480

Highlands Cashiers

210 North Fifth Street

Highlands, NC 28741

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