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. It appears that as March comes to a close, pending activity, particularly in the $1 million plus category, trended upward significantly with 25 homes pending to close in that price range, including 2 above $3 million in value. The sub $1 million range continues to lag early 2017 and will warrant watching in the second quarter.
SouthPark Area Matches Q1 2017, $1 Million+ 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. 48 homes closed in the $500K – $999K 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 1 million plus 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 Country Club area all saw action at the high end of the market.
Clean air to breathe and water to drink, excellent medical & dental care, a good education, these are just a few of the things we take for granted living in America, but in countries like Guatemala, one of the poorest countries in the Western Hemisphere life isn’t easy for most of the population.
For 6 years Ivester Jackson agent Melinda Meade-White has answered the call to help the people of Guatemala gain access to these items and more by traveling to their country with Davidson United Methodist Church.
Melinda says “It’s such a wonderful week we get to spend with the people of Guatemala, building special relationships while offering much-needed assistance.” Many times Melinda’s group travels into very remote villages in the highlands where they build stoves that vent to the outside. Traditional stoves in the homes are non-vented trapping smoke inside leading to respiratory problems.
The team works on many other projects as well, including building churches, teaching children Vacation Bible School, medical exams, and seeds and nutrition training. Education is important for economic development and in this area, missionaries offer scholarships, basic computer training, and Micro-finance loans. They also help provide clean water by supplying water filters to families which help clean the dirty water that they get from community wells.
Melinda says “we work with locals as our interpreters since we have to translate from English to Spanish to local dialect Chi-Chi.”
The group’s mission is to work with the people, not for them so the community will be involved and benefit while working together for greater goals.
To learn more about DUMC Guatemala visit their website.
Many homebuyers in Charlotte are interested in popular gated communities for several reasons including exclusivity, sense of security, privacy and an overall quiet atmosphere.
Ivester Jackson Christie’s Int’l Real Estate has some wonderful homes for sale in many of these Charlotte gated communities, including Skyecroft, Maple Grove, Pellyn Wood, Greenwood, Morrocroft Estates, Norman Estates and Heydon Hall.
Click on the images below for more details, pictures, and virtual tours.
A Parade of Homes award winner, this meticulously maintained Skyecroft custom build features an owner’s suite on main with the second master located in the exquisitely finished walk-out basement.
Skyecroft is a lovely neighborhood with a serene peaceful landscape. It’s a resort style neighborhood with multiple walking trails, ponds, tennis courts and pool. It’s located minutes from Waverly & Rea Farms shopping & restaurants and excellent Weddington Schools.
Patrick Joseph custom built estate on over 3 acres in the gated community of Maple Grove.
Maple Grove has many large estate style lots and grand luxury homes, it’s located in a unique and peaceful area close to Lake Norman and just minutes from Highway 16 which makes for a quick commute to Uptown Charlotte.
One of Charlotte’s premier settings highlights this flagship home in gated Morrocroft Estates.
Located in the SouthPark area, Morrocroft Estates is one of Charlotte’s most prestigious and private addresses, complete with 24-hour security and convenient access to Charlotte’s center city and dynamic SouthPark area.
Built by Kingswood Builders, words cannot truly describe what an unbelievable house this is, in a gated community, in a cul de sac with Quail Hollow Country Club in view.
Heydon Hall is full of spectacular homes located in a quiet neighborhood with tree-lined streets. It’s located minutes from Uptown Charlotte and right next to the distinguished Quail Hollow Country Club.
Take award-winning luxury design features & superior finishes. Add best-in-class high-tech entertainment, automation & security.
Governors Island is a gated community located on the West Side of Lake Norman and offers spectacular waterfront views. Nearly 40 families call this island home enjoying the privacy and park-like setting.
Charlotte’s luxury market saw a comparable start to that of 2017 this spring, while sold results in the mid-luxury segment below $1 M in value were fairly flat up to about $1.5 M in value. The ultra-luxury segment saw a surge in pending contracts near the end of March in both SouthPark and near town areas of Myers Park and Eastover.
Total showings and average showings per home increased about 3% in the $500 – $999 K range this spring over last spring. The range just above $1 M also saw an increase in showing activity over last spring of roughly 5%.
CHARLOTTE, N.C. – The Charlotte Regional Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from Carolina Multiple Listing Services, Inc. (CarolinaMLS). The Charlotte Metro region, which this report is based on, includes 12 counties in North Carolina and four counties in South Carolina.
The Charlotte Metro region year-over-year home sales in April increased 1.6 percent, with 4,028 properties sold compared to 3,963 properties sold in April 2017. Compared to the previous month (March 2018), sales rose 4.2 percent.
The average sales price in April 2018 ($292,158) increased 8.1 percent compared to April 2017 ($270,241), while the median sales price ($240,000) increased 7.4 percent compared to April 2017 ($223,498). Compared to the March 2018, the average and the median sales price increased 4.4 percent and 2.1 percent respectively.
The average list price in April 2018 ($342,606) increased 6.6 percent compared to April 2017 ($321,505), bringing the percent of original list price received measure to 97.4 percent, a slight increase of 0.2 percent compared to the same period last year. Pending sales in April 2018 (5,245) rose 10.7 percent compared to April 2017. Compared to the previous month (March 2018), pending sales increased 1.2 percent.
“It’s good to see year-over-year sales this past April increased slightly over last year’s sales; however, sales activity remains slow this spring and lagging behind previous years with tight inventory impacting home prices,” said 2018 Charlotte Regional Realtor® Association/CarolinaMLS president Jason Gentry. “The good news is that pending contract activity continues to show strong interest from buyers.”
New residential listings (5,773) increased 0.7 percent in April 2018 compared to the same period last year. Compared to the previous month (March 2018), new listing counts decreased 3 percent. Inventory continued to fall, with the number of homes for sale down 22.6 percent compared to April 2017, which left the CarolinaMLS region with 8,515 properties for sale at report time, or 2.1 months of supply of inventory. A year ago in April 2017, the region had 11,008 properties for sale or 2.8 months of supply.
The average number of days a property was on the market from the time it was listed until it closed (list to close) was 94 days, which is five days fewer than it was in April 2017. Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, totaled 44 days, which is five days fewer than April 2017.
Maxwell-Baynes is the market leader in the Bordeaux region of
South West France. Founded 10 years ago by Karin Maxwell and
Michael Baynes, their luxury real estate division is Maxwell-Baynes
Real Estate while their specialist vineyard company is
Vineyards-Bordeaux. Bordeaux was voted number one best city
in the world, in 2017 and has 11 Michelin starred restaurants,
elevating it to the top gastronomic destination in France and
beating out both Paris and Lyons for the top slot.
With the ski resorts of the Pyrenees 2 hours south and the famous beaches of Cap Ferret an hour west, Bordeaux has it all.
A chateau residence amongst the vines or in the countryside can
be purchased for about a million Euros and a St. Emilion Grand
Cru vineyard estate can be bought for about 5 million Euros. Or
perhaps a hunting estate near Cognac, an elegant townhouse
in the city of Bordeaux or a beach villa – the real estate here is
varied and beautiful.
Vineyards-Bordeaux is an enthusiastic vineyard and winery
investment advisory company specializing in the management
of vineyard transactions. With its team located near the wine
capital of Saint Emilion, it is situated in the heart of the “right
bank” of the Bordeaux appellation system, but its team covers
all 57 Bordeaux appellations, including the Medoc, the Graves,
Sauternes, Saint Emilion, and Pomerol, to name a few.
The Bordeaux vineyard market is relatively small with between 25
and 30 transactions taking place each year for Chateau vineyard
businesses across all Bordeaux appellations. A Bordeaux vineyard
can be purchased for under 1 million Euros but prices for the
world famous chateau can run to several hundreds of millions of
Euros. In 2016, there were 28 chateau vineyards sold. The team
at Vineyards-Bordeaux was responsible for 10 of them, holding
them as the market leader, overseeing between 30% and 40% of
the Bordeaux vineyard transactions each year.
2014 – the French voted Bordeaux the best place in France
2015 – voted by 250,000 people as the best tourist destination
2016 – 2nd place in The New York Times top cities to visit
2017 – new TGV ultra-fast train link to Paris ~ 2 hours
Bordeaux has the longest shopping street in Europe
The city has the largest UNESCO listed urban world
heritage site in Europe
Belonged to England for 300 years. The Romans occupied
the region 2,000 years ago.
Home to 100,000 students
1-hour drive to the beach, 2-hour drive to the ski slopes
14 billion Euro/year wine industry
Selling or Buying Vacation Property? We partner with trusted market leading
Christie’s affiliates worldwide to comarket
or locate investment property.
Clients get the comfort of a trusted local
Carolina-based professional, with the
international expertise of 1,350 Christie’s
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/)
The Lake Norman area luxury market got off to a solid start for 2018 although, in several communities, the range below $1 million took until March to crank into high gear. Most areas lagged last year’s first quarter in that range but have also seen a large surge in pending contracts in recent weeks, which portends a very good second quarter. In the luxury range over $1 million, Cornelius saw a strong start to the year, particularly in the $1 million to $1.99 million range.
Lake Norman Market Forecast
Overall, Lake Norman’s luxury market looks as though it will slightly outperform 2017’s very solid performance. Heading into April, most price ranges are either in line with 2017’s totals or trending ahead. Looking forward, overall showings in the luxury price ranges are running 3% ahead of last year through the first quarter which provides an indication that second quarter closings should meet or exceed last year’s same period. In particular, the ultra-luxury range above $2 million appears to be headed for one of its better years, as lower inventories and showing activity currently running 8% ahead of last year’s first quarter pointing to very solid activity in the $2 million range.
Last year, the Lake saw 30 resales above $2 million, this year, with 17 either sold or currently under contract, the area seems headed for a total beyond 30 transactions, which should further bring inventory in that range down into a more balanced buyer/seller market, after several years of high inventory levels.