* 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.
Welcome to our first Charlotte luxury real estate report for 2018. The area saw heavy activity in some emerging areas, with the communities in the [SouthPark](http://www.ivesterjackson.com/eng/community/southpark) and Carmel Road corridors surging, as well as luxury price segments in the Lake Wylie / Palisades area.
Myers Park and Eastover saw lower sell thru than the first quarter of 2017 but ended this quarter with a burst of pending contracts in the $1 million plus range, a positive sign for the second quarter. Showing activity in the luxury homes across Charlotte remained active, albeit slightly lower in some ranges ($1 million to $2 million), while the ultra-luxury segment above $2 million saw improved action all the way up to the $3.5 million range. The top of the market remained a much more finite audience above the $4 million plus range.
SouthPark Area Matches Q1 2017, Million Plus Market Surges
The SouthPark area, which stretches from Foxcroft and Barclay Downs southward down Carmel, Park, and Colony Roads to the Quail Hollow area, saw a solid start to 2018, with 48 homes closing in the $500k to 999 range, while 12 closed over $1 million (including a Charlotte high bar sale at 5.3 million in Seven Eagles). With showings in both ranges running at or above 2017 levels for the first quarter, buyers in the million-plus price range got serious and put 31 homes under contract, including an impressive 13 over $2 million, one of the strongest performances in any luxury price segment in the entire regional MLS. Foxcroft, Old Foxcroft, Pellyn Wood, and the Carmel CC area all saw action at the high end of the market.
Myers Park & Eastover
First Quarter in Myers Park and Eastover Trails 2017 But Rallies in March
The first quarter sold activity in Myers Park and Eastover trailed last year’s sold results by a significant margin of over 50%, which by itself might indicate a serious slowdown.
However, showing activity in the area had been running at last year’s levels, and it appears that as March comes to a close, pending activity, particularly in the million dollar plus category trended upward significantly with 25 homes pending to close in that price range, including 2 above $3 million in value. The sub-one million range continues to lag early 2017 and will warrant watching in quarter 2.
Lake Wylie / Palisades
The Lake Wylie / Palisades area saw a surge in luxury home sales in the 1st quarter of 2018, with closings in the sub-million dollar range jumping from 23 sales to 37 sales, and a whopping 61 homes now pending in the 500-999k price range.
The million dollar range also saw a resurgence, with 9 closings vs just 1 in the first quarter last year, and 5 additional homes pending.
Providence, Weddington & Waxhaw
Luxury home sales in the South Providence/Union County corridor showed steady progress thus far this year with the sub-million dollar category showing an 8% increase from 84 to 91 units sold.
The million dollar range saw an increase from 11 units to 13, an increase of 18%. The pending home index in both categories has jumped heading into spring, with 113 homes pending.
Ballantyne / Ft. Mill
The Ballantyne / Ft. Mill area saw a solid increase in the sub-million dollar luxury market, with 44 units closing compared to last year’s 1st quarter total of 38, a 15% increase. This range also saw a large jump in pending contracts as the quarter ends.
The million dollar plus segment saw a small decline from 5 units to 3 units sold but rebounded with 5 homes pending as the quarter ends.
Charlotte Market Forecast
As discussed above, while some communities stumbled out of the gate in early 2018, March has seen surges in luxury activity in most of the region’s key communities. Initially sluggish Myers Park and Eastover communities now boast 25 contracts over $1 million in value as they begin to replicate the hot start seen in the SouthPark, Providence/Union County, and Lake Wylie/Palisades areas.
Pending contracts have begun to equal or surpass last year’s comparable period, particularly in the luxury price ranges over $2 million, which now looks on pace to have one of its best years in history. While only 8 closings occurred in the first quarter over $2 million this year versus 5 last year, there are now a whopping 21 pending, which puts the first half of the year on pace to close 30 homes in that range. By comparison, there were only 32 sold all year last year in Charlotte. Given there had been over 2 years of inventory on the market at year end 2017, this sell-through is a welcomed assistance in returning the ultra-luxury market to a more balanced buyer/seller conditions.
While the prospect of rising rates and changes in favorable tax treatment of mortgage interest and property taxes might be slowing the dynamic growth below $1 million ever so slightly, the coming impact of corporate earnings flow through upon bonuses and stock prices may be more than enough to offset any drag on luxury housing in the short term, as is evidenced in the ultra-luxury range.
Ivester Jackson Named “Christie’s International Affiliate of the Year.”
Last month, in Buenos Aires, Argentina, Christie’s International Real Estate convened its prestigious annual owner’s conference, comprised of leaders from Christie’s flagship luxury network of 145 of the world’s leading real estate brokerages.
The conference annually recognizes the pinnacle of marketing for its network by awarding an Overall International Affiliate of The Year.
Ivester Jackson Distinctive Properties was honored as Christie’s “Best of the Best” Overall International Affiliate of The Year for excellence in innovation, marketing, and growth. “Since joining Christie’s 4 years ago, Ivester Jackson
has grown by more than 200%, the company is now the top seller of homes valued at over $2 million in the Charlotte region,” said Christie’s CEO, Dan Conn. “It excelled in every category.”
Read More: [Christie’s Recognizes Ivester Jackson as “Best of The Best.”](http://www.ivesterjackson.com/blog/christies-recognizes-ivester-jackson-as-affiliate-of-the-year/)
Ivester Jackson | Christie’s Int’l Real Estate is excited to support Young Elites again this year, a local charity that’s helping young women become strong leaders.
This Thursday October 6th is their top fundraising effort of the year, “A Night to Live Your Life on Purpose Gala” at The Peninsula Club.
Young Elites helps young women prepare for a lifestyle of leadership through events and programming offered to high school girls in the Carolinas and beyond. So far 700 girls have gone through the leadership program by way of a full-scholarship.
According to the Young Elites website, “young women are taught to have VISION, INTENT, and PURPOSEthrough deliberate event scheduling that pushes high school girls in and out of their comfort zones. A unique combination of intellectual, physical, and team building challenges teaches these young women 8 game-changing leadership skills – critical thinking, emotional intelligence, fitness & wellness, identifying strengths & goals, mentorship, professionalism, service, and teamwork.”
The gala is a time to celebrate Young Elites success and it’s the primary source of fundraising to help young women.
Click here to learn more Young Elites and “A Night to Live Your Life on Purpose Gala.”
Written by: Dina Sosa – Broker Ivester Jackson | Christie’s Int’l Real Estate
You have one chance to make a first impression. You want your house to be memorable. Curb appeal is essential and one of the best strategies for influencing buyers and leading to the success of selling your property!
Walking around the exterior of your house and noting anything that needs to be cleaned, repaired, or replaced is a great place to start. Remember two sets of eyes are better than one.
START AT THE TOP:
Make sure the roof is in good condition. A good cleaning of the roof’s covering and gutters will up your property’s appeal factor.
Polish your house up with a new coat of paint, if needed, or just refresh the trim. Remember the outdoor furniture and plant containers need to look pristine too.
Pull the curtains and blinds back. It is a prettier view not only from the inside but from the outside as well. Clean windows reflect the beauty of the outdoors and make your house appear brighter. Try and keep your window treatments uniform from the street view.
THE PRESSURE IS ON:
In this competitive market you want to showcase your property. Pressure washing decks, sidewalks, and driveways is a cost efficient way to increase your curb appeal and make your house stand out in the crowd.
LIVEN THINGS UP A BIT:
Add some living plants and flowers to the yard. Freshen up mulch to make the colors and textures pop. From brightly colored flowers to hardy succulents, sprucing up the yard will make folks stop and take notice.
SHED SOME LIGHT:
Adding outdoor lighting will unveil the house and yard to potential buyers who drive by at night. You never know when your property’s next owner is going to pass by.
ACCENTUATE THE POSITIVE:
The exterior should demonstrate your pride of ownership while inspiring potential buyers to take a closer look. Promote the property’s outdoor spaces while creating curiosity to see the inside and take a closer look.
So how cool is this idea for family pictures? Putting them on tiles and then up on a wall! Love it! We found this in one of the beautiful Ivester Jackson homes we have for sale in The Point – 132 Bunker Way. http://bit.ly/1HsbD6R
A quick search on Pinterest and we found”Family Photo Walls” like this one, with the description “A way to get all the people you love into one room at the same time…keep them near and dear.”
When it comes to marketing your home, we’re all over it! From mass media, internet and neighborhood targeted marketing.
Social Media and Online Marketing.
We post our homes all over social media and our popular “House of the Day” promotions reach thousands of viewers on Facebook, Twitter, Pinterest, LinkedIn and Google+.
Our house tour and aerial tour videos can be seen on social media, our website and the IJ YouTube Channel by millions.
We utilize social media and popular search engine optimization to reach buyers.
Our Realtor.com showcase package means premium position, more photos, virtual tours and video.
We Put Technology To Work For You.
We utilize the latest monitoring technologies to “see” who’s looking at your home. This allows us to target and follow up with potential buyers.
IvesterJackson.com is mobile enabled, 40 percent of our pageviews come from mobile devices.
Print and Community Marketing.
From the traditional to the latest in online technology, we utilize multiple channels to reach qualified, potential buyers for your home. Our efforts reach local, regional, national and international properties.
We advertise our properties in over 100 local, regional and national print publications, driving traffic to our website and your property.