Charlotte $2M+ Ultra-Luxury Homes Sales increased 38% in the 1st four months of 2019: from 13 sales in 2018 to 18 sales in 2019. Pending sales are up 42% in the same time period: suggesting strong momentum for the rest of the year.
$1-2M segment grew 19% from 81 sales in 2018 to 96 sales in 2019.
$500k-1M segment grew a more modest 6%, but this “restrained” growth is attributable to low supply of homes (4.4 months of Inventory), rather than a slowing demand.
Higher Supply in $1M+ segments presents opportunity for Charlotte Luxury buyers
- $1-2M segment = 7.8 months of inventory: a moderate Buyers’s Market
- $2M+ segment = 15 months of inventory: a strong Buyer’s Market
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