Charlotte Market Report

Weekly Market Activity Report

Market Report June 2015
Market Report June 2015

Information and research is written and provided by the Charlotte Regional Realtor® Association.

For Week Ending June 20, 2015

(Data current as of June 29, 2015)

Interest rates do not seem to be going up anytime soon, but some have an inkling that they will ascend during the dog days of summer or as the leaves fall. For the time being, sellers are selling and buyers are buying within the existing framework, and it is a glorious time for consumers and agents alike.

With a general nationwide increase in both new listings and closed sales, markets across the country have seen upward mobility with housing. Now let’s see if the local market is following the prevailing national trends.

In the Charlotte region, for the week ending June 20:

  • New Listings increased 3.6% to 1,125
  • Pending Sales increased 34.3% to 1,045
  • Inventory decreased 21.9% to 13,659

For the month of May:

  • Median Sales Price increased 8.1% to $199,990
  • List to Close decreased 5.6% to 119
  • Percent of Original List Price Received increased 0.8% to 95.4%
  • Months Supply of Inventory decreased 31.2% to 4.2

Ivester Jackson Sponsors Art Southampton

Ivester Jackson joins fellow Christie’s International Real Estate affiliates as ‘Official Luxury Real Estate Partner’ of acclaimed contemporary art fair in the Hamptons

 

Charlotte, NC:  Ivester Jackson Distinctive Properties, along with Christie’s International Real Estate, the world’s leading luxury real estate network, is proud to join eight fellow affiliates in serving as the “Official Luxury Real Estate Partner” of Art Southampton.  The premier international modern and contemporary art fair in Bridgehampton, NY, Art Southampton features a carefully selected group of 80 international art galleries.

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Now in its fourth season, Art Southampton will take place July 9 through 13 at a new location—Nova’s Ark Project, 60 Millstone Road. The Fair offers collectors, curators, designers, and art advisors the opportunity to acquire the finest blue-chip modern and contemporary works of art from the emerging, mid-career cutting edge, Post War, and Pop eras, with a focus on design and functional art. The amenity-rich event, with an unrivaled ambiance and design, presents convenient access for residents of Long Island, New York City, and the Tri-State, as well as global travelers who frequent the Hamptons in the summer months.

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Christie’s International Real Estate has served as a marquee sponsor of the internationally acclaimed Miami-based fairs Art Miami and Art Wynwood for three consecutive years.

Through its sponsorship of Art Southampton, Christie’s International Real Estate, along with Ivester Jackson Distinctive Properties and other participating members of its international affiliate network will continue to enhance the natural synergy between contemporary art and luxury real estate. The connection emphasizes the unique, lifestyle-centric qualities that link an investment in a multi-million-dollar trophy property to the purchase of a world-class work of art.

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“We are very pleased to participate as a top sponsor of the summer’s most important art event in the Hamptons,” said Dan Conn, Chief Executive Officer of Christie’s International Real Estate. “As noted in Luxury Defined, Christie’s International Real Estate’s annual report on the high-end residential property market, with values now exceeding $100 million, ‘trophy home’ has become the new insider term in the world of luxury residential real estate. And the type of buyer who would collect a $179.4 million Picasso like the one sold at the Christie’s recently concluded Post-War and Contemporary Art auction, is the same buyer who is interested in these one-of-a-kind homes.”

Throughout the duration of the Art Southampton fair, Christie’s International Real Estate will host an interactive booth within the Art Southampton pavilion, exhibiting luxury residential real estate offerings from around the globe. Affiliate representatives and their VIP guests will enjoy kicking off the fair at an exclusive event at a Hamptons estate on July 8, and attending the opening VIP preview of the fair on July 9.

“We are excited about the opportunity to present our collection of distinctive North Carolina properties to the audience at Art Southampton. The northeast financial corridor and in particular, The Hamptons, have both produced significant client interest for second home and relocation properties in North Carolina,” said Reed Jackson, Managing Partner of Ivester Jackson Distinctive Properties. “We look forward to reaching them with our clients’ homes at this important and influencial art exhibit.”

The 2014 VIP Preview of Art Southampton attracted more than 4,200 collectors, art advisors, curators, and designers, while the full five-day event hosted more than 21,000 attendees. The 2015 edition will again provide an intimate look at some of the most important works at the forefront of the international contemporary art movement.

“We are extremely thankful to have the support of Ivester Jackson Distinctive Properties and Christie’s International Real Estate for Art Southampton,” said Nick Korniloff, Director and Partner of Art Miami, LLC. “We look forward to another successful fair, this year putting a spotlight on the best the contemporary art and luxury real estate markets have to offer from around the globe.”

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About Christie’s International Real Estate:     Christie’s International Real Estate is an invitation-only affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Beverly Hills, and Palm Beach, and 140 global affiliates with 32,000 real estate professionals in 46 countries.  For additional information about Christie’s International Real Estate, please visit www.christiesrealestate.com.

About Ivester Jackson Christie’s International:  Ivester Jackson Distinctive Properties is one of the Southeast’s leading boutique brokerages. An exclusive affiliate of Christie’s International Real Estate, Ivester Jackson brokers manage over 250 million dollars in luxury and investment property annually, and have successfully closed over a billion dollars in real estate transactions. www.ivesterjackson.com


A Tuscan Villa Under the Catawba Sun

Rounding the bend on a quiet road outside Charlotte, a driveway unfurls like a pebbled carpet. At the end, nestled among old oaks, an Italian villa shimmers under a crystal blue sky.

From the stucco walls to the ivy-encrusted courtyards, the property drips with the richness of classic Renaissance architecture. This is not by accident.

 Bringing Tuscany Home

After spending years traveling throughout Italy on business, the owner fell in love with Tuscany and sought to bring its essence home to North Carolina. Using photographs, sketches, and a creative approach that often defied conventional methods, he directed the building of the structure and its interior in 2003.

Custom work and imported material abound inside and out of the stunning villa and its accompanying three-car carport and guesthouse. To start, the exterior is authentic stucco over a base of 30-inch square slabs of concrete one-inch thick, instead of the wood base typical of American stucco.

Driveway (1)
Drive Entering the Villa

 

 The front courtyard

A one hundred-year-old gate guards the way into the front courtyard. The relic was a discovery on a journey through an Italian mountain town. Rather than refinish it, in order to nurture the antique feel of the estate, the owner left the turquoise paint curling in waves off the rusted iron bars.

A sea of pebbles swirls into the courtyard. The owner was told he could have black pebbles or gray pebbles, but not both. So, he hired a cement mixer and created his own black and gray mixture. Statues and stone planters ring the courtyard, and at the center resides a 200-year-old fountain, purchased from an Italian stonemason outside of Verona. The stonemason was also selling several statues of women draped in robes. However, in the Renaissance style, the robe fell away from one shoulder.

Landscaping

“That’s just not gonna go in Newton,” the owner thought.

So, he commissioned two fully clothed statues in keeping with Southern American sensibilities and brought the stone maidens home to watch over the fountain. Behind these, raised garden beds filled with flowers and ornamental shrubbery line the brick wall surrounding the courtyard.

 Main Entrance

Entering the villa

The villa’s main entrance is through richly stained double doors. These were replicated from a photograph the owner snapped in Bologna and were the last work of art completed by a 78-year-old master cabinet builder with the historic M.G. Crouch Lumber Company.

Foyer (4) Planting Room

Imported Italian tile covers the entry floor and the potting room, with a herringbone-style wood flooring in the piano and dining rooms. In the dining room, intricately embroidered French silk drapes made in England hang in graceful folds the entire length of the wall.

Formal Dining Living

The walls in the entry and piano room are finished with a rough plaster and painted in a rustic style with warm, earthy red tones by an artist flown in from Boise, Idaho for his unique methods. In the kitchen, timbered ceilings tower over cabinets of cypress from the North Carolina coast.

Keeping

“I wanted a massive fireplace,” the owner says of the kitchen’s wood-burning fireplace, whose heat permeates the ground floor in the winter. He imported an 8,000-lb block of soapstone for the entry tile and used the broken pieces to frame the stone fireplace.

Kitchen (3)

French doors in the study and two more in the kitchen open out onto the patio and courtyard to allow for comfortably hosting large cocktail parties, rain or shine. Upstairs, three more sets of French doors open onto a more intimate awning-covered stone terrace.

The walls were built on 2×12 studs to create an inset look for the windows, similar to what the owner encountered in Tuscan homes. Also in keeping with the European style are 15-inch baseboards throughout.

A cherry stairway leads up to a second floor hallway covered in diagonally laid reddish-gold heart pine. To add centuries onto a new floor, the owner had the boards painted over in brown, then sanded, leaving behind only what paint had filtered into cracks and nail holes. The result was the look of an historic beauty.

The attic enhancements include awning windows inspired from farmhouse visits and five-foot walls providing for ample storage. A back stairway, calling to mind servants’ quarters, winds down to a finished basement, which has a full bath and a changing room for guests entering from the pool.

 Rear CourtyardLower Terrace (3)

The rear courtyard

On the patio is another fireplace inlaid with 200-year-old decorative tiles depicting a boy and his horse in bright reds and blues. The owner discovered these tiles at an antique market on the backside of town on a trip to Valencia, Spain.

“They were handmade in that area,” he says. “There’s no more of these in the world.”

The patio steps down into a courtyard laid in stone. Embedded in a sidewall are a cluster candle niches from a 400-year-old monastery in Armenia. Boston ivy winds up stone pillars and laces across the courtyard walls, lending a magical air to the courtyard. In the fall, its leaves turn a vibrant red for three weeks, before the dropping off and leaving behind a beautiful network of veins.

“To me, it’s like nature’s artwork,” the owner muses.

 The lavish gardens

The lavishly landscaped grounds flow out from the villa with an ivy-covered arch and pergola between patches of flowers set to bloom throughout the season. In front of the guest cottage, three types of apple trees form a romantic arbor in two rows leading to Georgia Belle peach trees.

“The best tasting peach you’ll ever eat,” the owner says.

Chickens wander past knockout roses, oak leaf hydrangeas, elephant ear hostas, peonies, oriental lilies, fig trees, and cherry trees while discreet lights at the bases of trees illuminate the grounds at night.

Pool (1)
Beautiful Grounds and Pool

Surrounding the pool is a stone patio painted and pressure washed to an antique finish. The bottom of the pool is painted black, an idea taken from a friend’s house in the Hamptons, which makes the water look clearer. An underground heating unit warms the waters, making even a January swim enticing.

Pool (2)

Brick steps lead up to a custom-built cabana, whose peaked roof and pillars give the entire area the feel of a Roman bathhouse. A local artist painted the mural covering the inside walls of the cabana, based on a photograph of the owner’s last trip to Italy.

“That’s the house I stayed in.” He points to a farmhouse on a hill rising above olive trees and vineyards. “I could see the ocean from there.”

Guest House

The guest cottage

On one stay in Italian farm country, the owner encountered a three-car carport with living quarters for the caretaker. The photo he snapped and the sketch on his legal pad became the basis for his own carport and guesthouse.

A slate roof covers the structure, and the exterior walls are fitted with cedar shingles reminiscent of Swiss chalets. While wired for doors, the carport has open archways with beautiful dark custom-cut boards lining the back wall. This is the same wood that was used to construct the door on the attached one-car garage, the style of which leads one to wonder whether an 18th century king’s carriage or a 21st century businessman’s automobile is parked inside.

Guest House  (3)  Guest House  (1)

The guest cottage takes on dreamy, fairytale feel, with reddish-gold Mexican tile and countertops of galvanized tin. Heart pine covers the floors upstairs. French doors open out to a patio on the lower level and a terrace on the second level.

 The helicopter pad

The property encompasses about four acres, but horse trails lead past a slate-roofed horse barn through an additional 39 available acres of hundred-year-old pin oak, white oak, chestnut oak, red oak, and hickory trees.

“This is like your own little hunting paradise,” the owner says, mentioning the wild turkey and deer that regularly travel through the property.

A meadow opens up by the creek, intended for the installation of a helicopter pad. This would allow a convenient arrival from the airport to this unique treasure, hidden in the heart of Catawba County.

Overall, this property features four bedrooms and four baths with two half baths and a gracious 7,890-square-feet of living area as well as four acres (additional 39 acres available), a guesthouse, and a heated pool, and is offered for $2,495,000. Visit www.tourfactory.com/1318307 for a virtual tour. For more information, contact Eric Zientek at Ivester Jackson, ericz@ivesterjackson.com.

By Kelly Zientek @  kellyzientek.com

 

 

 

 


Charlotte Market – Residential Real Estate is Heating Up.

Ivester Jackson Christie’s International Real Estate opened a new SouthPark office in December 2014, and while the residential real estate market is heating up, our agents are busy helping buyers and sellers throughout the region.

Take a look at some of Ivester Jackson’s most recent sales and contracts, in some of Charlotte’s most sought after neighborhoods; including Myers Park, SouthPark, Challis Farm and Carmel Estates.

Charlotte North Carolina agents are busy selling and buying properties
Ivester Jackson agents are busy!

Check out some beautiful homes available throughout Charlotte.

Great homes for sale around Charlotte, NC.
Great homes for sale around Charlotte, NC.

Learn More About Charlotte:

Click Photo to Learn More About the Queen City.
Click Photo to Learn More About the Queen City.

Read the latest Market Report from Carolina Regional Realtor’ Association below:

Weekly Market Activity Report

This research tool is provided by the Charlotte Regional Realtor® Association.  For more information, contact a Realtor®.

For Week Ending May 30, 2015

(Data current as of June 8, 2015)

As we get closer to the official calendar launch of summer, residential real estate is taking off. The market may seem slower than in past spring/summer sprints, but numbers are by no means dismal. Whether the buyer category is dominated by Millennial, Generation X or move-up buyers from previous generations is no matter; activity is happening.

In the Charlotte region, for the week ending May 30:

  • New Listings increased 7.4% to 1,078
  • Pending Sales increased 32.4% to 1,002
  • Inventory decreased 21.3% to 13,524

For the month of May:

  • Median Sales Price increased 8.1% to $199,990
  • List to Close decreased 5.6% to 119
  • Percent of Original List Price Received increased 0.8% to 95.4%
  • Months Supply of Inventory decreased 34.3% to 4.0