Despite a tumultuous summer in Washington, the Lake Norman and Davidson areas saw fairly solid buying activity within the luxury price segment through June, July, and August. 110 homes listed at over 500,000.00 closed during the period, matching last year’s totals for that same time frame. From a pricing standpoint, April and May saw some of the area’s first year over year increases, while July saw a slight decrease, leaving the 90 day trend flat to just fractions higher than last year’s closed prices.
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The ultra luxury category heated up, particularly in Cornelius, where 6 homes closed above the 2 million range and 2-3 more stood under contract as of this week. The million dollar range has been solid all year, and continues to see showing activity.