Luxury Townhouse Sales Report from South Charlotte|Novemeber 2008- What is a luxury townhome?

Luxury Townhouse Sales Report from South Charlotte|November 2008

November 20th, 2008 Categories: Charlotte Homes for Sale, luxury homes in charlotte

What is a luxury townhome? 90% of the townhouse market is for first time home buyers-

the luxury buyer typically is not.

Who are the buyers for a luxury custom built townhome? Professional couples, (who might have earlier had city condos)down-sizing empty-nesters and singles predominate. What distinguishes it from the others? Fit, finish, quality of the options and landscape– sort of “I’ll know it when I see it” quality. The best of these (IMHO) come with great views, Burning Tree has Carmel Country Club Golf Course, Greenview Terrace sits on Raintree’s fairways, others like Mayfair and Provence on Providence are there own little enclaves- in every case there are some distinguishing community features, and they cater to folks who want to live in that area, or love the style, without the maintenance headaches of a single family home. All come with top of the line interiors- and easy living full exterior maintenance included.

Charlotte Town Homes For Sale

Like most categories, it is a strong buyers market in Charlotte. The price points are some what arbitrary, but the luxury townhome niche begins in price at about $350,000, and goes up from there. The sold data gives you an idea of the range of cost per sf sold, based on the maximum and minimum home sales prices in the group. We compute absolute min/max for clients.


	Homes	Homes Sold	Median	Low	HighPreview »
Price range	For Sale	Last 12 mo	$/sf	$/sf	$/sf
Homes for sale between $350K-400K	20	14	160	115	255
Homes for Sale between $400K-450K	19	24	172	128	212
Homes for Sale between $450-550K	23	21	176	140	248
Homes for Sale over $550k	20	21	222	213	264

In most cases there is a year of inventory, high by Charlotte standards. My hunch is this reflects a lot of single family fairway view from greenview terrace luxury condo sellers (down-sizing empty nesters) who are holding on to their homes until a better sales environment returns for their homes.

The pictures in this post are from my listing in Greenview Terrace, a master bedroom view of the Raintree fairway is on the right, and its a few minute walk to the Arboretum and the Express Bus uptown.

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Moving to Charlotte? Your first Charlotte home?

Have a home buying or home selling questions? I am a Charlotte real estate broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day in Myers Park, Southpark, Matthews and Huntersville, Lake Norman, Waxhaw and Lake Wylie too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser.

If you still haven’t figured out where you might want to live in Charlotte, you may compare area Charlotte home prices and communities, from our MLS based home search below. If you haven’t already, try my my fact-filled and well received Introduction to Charlotte NC Video (over 9000 You Tube views) and don’t miss the FAQ videos-answering the Big Question- Where to live in Charlote, or where to look for a luxury home in Charlotte? (in the right column just under the Introduction to Charlotte Video Screen)

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