Denver & West Shore | Luxury Property: A Market Snapshot

The West Shore communities of Denver, Terrell, and Sherrills Ford saw a solid start to 2018. First quarter sales in the sub-million dollar range nearly matched last year’s first quarter, with 20 deals closing vs. 22 last year and 24 more pending as we went into April. The million dollar plus range saw similar action compared to last year, with 3 homes trading in both this year and last year’s first quarter. There are currently 5 homes pending on the West Shore listed at over $1 million.


Charlotte Real Estate Market Reports

 

* Pending Sales Report (Over $500k) for May 2018 – Lake Norman/Davidson, Charlotte, Union County & Buncombe County:

While Lake Norman, Union County & Buncombe County pending sales showed upward movement as the month of May progressed, Charlotte’s pending sales ended the month down by 5%. Union County had a slightly higher pending sales increase at 15% over Lake Norman’s 12% increase but Buncombe County lead all areas with almost a 19% increase in pending sales by month end.

* Showing Trends Report (Over $500k) for May 2018 – Lake Norman/Davidson, Charlotte, Union County & Buncombe County:

Following suit, Showing Trends for May 2018 compared to this same time in 2017 were also up across all areas except Charlotte, which was down albeit by only 1%. This indicates a pretty tight inventory with showings about flat and pending sales down for the area as buyers struggle to find homes they like enough to go see much less buy. Lake Norman showings were up by 20% as were both Union and Buncombe Counties by 26%-27%, right in line with their upward pending sales trends.