Pendings Edge Up, Distressed Drops Again

As we reach the tail end of March and the window into what is historically the busiest time of the real estate sales cycle, luxury homes under contract edged up to just under 80 homes pending. This number includes 23 priced at over 1 million dollars of which 5 are over 2 million. This represents a solid upward trend, albeit slightly behind last year’s pace. Activity has increased the past two weeks as well.
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On the distressed side, properties with bank or court actions, corporate relocations, etc. decreased to just 27 luxury units in the Lake Norman/Davidson area. This represents the smallest number of luxury distressed units on the market since 2009, something that should continue to impact prices in a positive way. There are now just 27 luxury homes on the market that have distressed financial air max 90s oakley sunglasses

March Brings More Luxury Pendings

Luxury pendings rose again the past 10 days at Lake Norman and Davidson, with 76 total homes under contract in the 500,000 plus price range. This is a solid number, just off from last year’s very robust spring, and up 10% from February. We’re projecting pendings to peak near 100 total, close to last year’s peak.
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At Ivester Jackson, we just listed almost 20 million dollars in luxury property, yet have put almost half that under contract in the last 45 days, including a home on Shipswatch in the The Peninsula that we put under contract with multiple offers in the 1.5m range. We’re also closing a 2 million dollar home on Wellfleet in The Point next week. River Run has also been hot with several IJ closings, as well as the million dollar Restormel Estate in Davidson, sold by Julie Pfeffer.
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