Luxury Homes Market Watch Concord & Kannapolis, NC

Concord and Cabarrus continued to benefit from a supply of development acreage as several new luxury communities came online in the $700,000 to $1 Million range, leading to a major spike in closings in that price segment. Two hundred fifty-eight homes closed in this range in the second quarter, vs. 115 last year, an increase of over 100%. The luxury range matched last year with seven closings over $1 Million in list price while also reporting another four under contract and seven active listings heading into the third quarter.

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