Charlotte & Lake Norman Region
Contents
INTRODUCTION
• Lancaster County
• Monroe
• Gastonia
• Kings Mountain & Shelby
• Clover & York
• Hickory - Newton - Conover
• Statesville
• Lincolnton
• Salisbury
• Badin Lake/Lake Tillery
Introduction Introduction
With the scarcity of inventory in the higher demand areas in the Charlotte and Lake Norman region over the past five years, emerging areas of luxury residential migration were bound to occur. Beyond scarcity, the demand for both rural living, access to small-town charm, and walkability drove a growing number of luxury buyers into new and emerging areas in the region.
Nowhere was this more evident than in Lancaster County, South Carolina, where luxury sales in 2024 surpassed 2020 sell-through. Other areas and pricing segments showing explosive growth included the Hickory-NewtonConover area, as well as the million-dollar-plus segment in the Badin Lake/ Lake Tillery area. The following is a breakdown of the region’s areas in which significant buyer migration has emerged over the past five years.
Lancaster County
With areas like Indian Land emerging and the expansion down the 521 corridor, Lancaster County’s mid-market luxury segment, just below $1 million in list price, along with its luxury segment over $1 million, both exploded with activity between 2020 and 2024. Communities like The Estates at River Creek, Bent Creek, Bridgemill, and River Chase Estates helped propel sold activity from just 3 units closed over $1 million in 2020, to 47 in 2025, a whopping 1500% increase. The area has now crested $2 million in list price and shows no signs of slowing down.
Monroe
Union County’s growth in the Waxhaw area has begun to spill over into long-dormant Monroe, as the advent of the toll bypass also brought new exit development. The range just below $1 million in list price expanded from just 6 units to 109 sold in that range in 2024. Areas like Cresswind and New Hamilton Estates saw activity, while the million-dollar range has started to emerge, with 9 closings in 2024 vs 0 in 2020.
Gastonia
Neighboring Belmont spillover has started to impact Gastonia, where, like Monroe, the upper segment just below the million-dollar threshold rocketed from 3 closings in 2020 to 46 in 2024, as communities like Robinson Oaks attracted activity. While the range above $1 million is not quite there yet, it’s beginning to percolate, with 4 closings in 2024 vs 0 in 2020.
Kings Mountain & Shelby
With the addition of the new casino, a winery, the small town charm of Shelby, and the proximity to Moss Lake and Crowders Mountain outdoor activities, this area seems ripe for continued upward activity in the luxury ranges. The mid-market segment jumped from 6 sales in 2020 to 26 in 2024, the million-dollar market and popularity of Moss Lake have started to push values in the million-dollar plus range. The area also saw a record setting Ivester Jackson | Christie’s brokered $3.45 million estate farm transaction, indicative of the area’s emerging appeal to luxury buyers.
Clover & York
Like their neighboring Lancaster County locations, the South Carolina communities of Clover and York both saw a spike in mid-market luxury activity, with closings rising from 28 in 2020 to a sizzling 143 units closed in 2024. The luxury range similarly spiked from 14 closings in 2020 to 37 in 2024, as Lake Wylie gained in popularity, and luxury new construction in the million-plus range attracted some buyers. Handsmill on Lake Wylie attracted interest, and the lake saw a recordsetting $3.3 million deal close in 2024.
Hickory - Newton - Conover
With its proximity to both Charlotte and Asheville, it was only a matter of time before this area, which also sports Lake Hickory, would begin to emerge as a solid option for value-hunting luxury buyers. Mid-market activity just below $1 million spiked from 35 closings in 2020 to 109 closings in 2024, as lakefront and golf course properties in places like Rock Barn attracted luxury buyers. The area also saw new thresholds crested above the $2 million range at Lake Hickory in 2024, with million-dollar-plus transactions rising from 3 closings in 2024 to 17 in 2024.
Statesville
Another area in which mid-market luxury has begun to emerge, Statesville saw a similar spike in closings as several of the other outlying smaller towns in this report, with closings increasing dramatically from 6 in 2020 to 33 in 2024. The luxury range above $1 million has started to percolate, and does share some frontage at the north end of Lake Norman, which helped contribute to a rise in luxury deals in this segment, as 7 homes closed over $1 million in list price, including a $2.15 million sale at Windemere Island.
Lincolnton
With small-town charm and improved access into Charlotte via Highway 321, Lincolnton continued to see its infill market drive values upward near the walkable town square and rail greenway. With breweries, boutique dining options, and proximity to fantastic South Mountains State Park, this area should continue to see increases in the luxury activity in the million-dollar range.
Salisbury
Another charming small town seeing a renaissance, Salisbury saw a similar increase in the $600k to $1 million price point, as infill renovation projects of charming historic residences near town, combined with interest in The Crescent Golf Club, to drive the mid-market range. The area saw another record-setting Ivester Jackson | Christie’s sale, a $4.8 million equestrian property, which closed in 2024.
Badin Lake/Lake Tillery
One of the top areas to watch in the coming 24 months, this area saw a spike in it’s million-dollar plus price range, as closings rose from 12 in 2020, to 26 in 2024. This does not include new construction projects on Lake Tillery, which have become more popular given its proximity to both Charlotte and Winston-Salem/Greensboro. Not only does the area offer water activities, but Morrow Mountain State Park and golfing at the Olde North State Club, which has no waiting list, have also attracted buyers from outside the area. Albemarle has begun to transition and now offers some appealing dining, brewery, and coffee shop options as well. This area has also benefited from dramatically improved highway access via expanded 24/27, which has also pushed areas like Locust forward.
Our Offices
Lake Norman
21025 Catawba Avenue, Suite 101
Cornelius, NC 28031
North Shore
350 Morrison Plantation Parkway, Suite C1 Mooresville, NC 28117
Charlotte
1515 Mockingbird Lane, Suite 900 Charlotte, NC 28209
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
