The number of ultra-wealthy home buyers has risen 19% over the last five years, according to Knight Frank, and they’re not only willing to spend $10 million and up in global hotspots like Dubai and New York — but also in lesser-known areas around Lake Norman in North Carolina.
Although one of those lake towns, Mooresville, is now the fastest growing US suburb with many houses priced below $500,000, the uber-large mansions that sit on the state’s largest lake are now also topping $10 million for the very first time.
“Three sold in just the last 45 days and we weren’t seeing anything over $10 million prior to this,” said Lori Ivester Jackson, broker and founder of her eponymous firm, Ivester Jackson Distinctive Properties — a Christie’s International Real Estate affiliate. “Lake Norman is on the map and on people’s radar.”
While the area is known for its affordability, its luxury sales north of $10 million are also taking off. This stunner at 16716 Belle Isle Dr. sold for $11.5 million in July. Skycam Digital
The mansion’s outdoor space comes equipped with a chic pool. Skycam Digital
There’s also a massive kitchen with water views. Skycam Digital
Even this bedroom was watery vistas. Skycam Digital
Jackson credits the sky-high pricing du jour to the 36-mile-long deep-water lake with 520 miles of shoreline — the same as New York City — and a location just 30 minutes from Charlotte and its reimagined airport. “We have great flight service,” she added.
(One recent buyer client of hers has other homes in Denver, Colorado and Spain, and wanted something on a large body of water — “not salt water” — near good flight service.)
“There used to be a difference in what North Carolina’s luxury market was like and what other markets like New York City or South Florida believed to be luxury, and the bar continues to rise,” said Josh Dearing of Serhant North Carolina, Ryan Serhant’s area affiliate.
Seven Lake Norman homes are now priced between $9.9 million and $21.99 million with a new, still secret, Serhant listing in Cornelius priced at $25 million. “It’s a testament to where this market is continuing to go,” said Charlene Dearing of Serhant.
Kurt Busch recently sold his home on The Point for $10 million at the end of August, according to sales records. Getty Images
When he was a Carolina Panther, Christian McCaffrey and Olivia Culpo bought a manor in Mooresville for $7 million — it has been on the market for $12.9 million since his 49ers trade in 2022. Getty Images
Influencer Olivia Culpo and her now-husband, San Francisco 49er Christian McCaffrey, bought a French-inspired manor in Mooresville for $7 million when he was a Carolina Panther. Since he was traded in 2022, the nearly 12,000-square-foot home has been on the market for $12.9 million — and with that $10 million mark breached, it may finally find a buyer.
(The couple’s agent and media reps did not respond to The Post’s requests for comment.)
Meanwhile, The Post learned through public records that NASCAR driver Kurt Busch sold his New England-inspired house on 1.25 acres for $10 million at the end of August.
Busch’s former home on The Point, the HOA affiliated with the Trump National Golf Club Charlotte, was sold to a local LLC. An elevator serves the dwelling’s five bedrooms and eight baths in 11,132 square feet, with a rooftop deck and a cupula topped by a flying geese weathervane.
This handsome residence on Longfellow Lane sold over the summer for $10.7 million — furnishings included. SKYCAM DIGITAL MEDIA
Beyond the perks of luxe interiors, the dwelling also has a great waterfront perch. SKYCAM DIGITAL MEDIA
Another Point manse on nearby Longfellow Lane with five bedrooms and seven baths sold this summer, fully furnished, for $10.7 million and feels like a high-end hotel resort. Listing agent Laura Pegram of Ivester Jackson said, “Buyers will say they want a golf course community neighborhood and the Trump course is the best one.”
The seller paid $4.5 million in 2020 just as lake living got a big boost from COVID-shuttered workplaces and summer camps. They were able to personalize it during construction, adding swim jets for training, a golf simulator and solar panels.
According to Pegram, these long-held luxury estates are now reselling at a time when similar new construction can run $20 million and up.
As high-priced sales rise, a greater focus comes into the stock of luxe homes, such as this one at 17028 Island View Dr. in Cornelius. Skycam Digital
Inside the property’s well-lit chef’s kitchen. Skycam Digital
Jessica Grier of Premier Sotheby’s International Realty said, “These are custom-built homes and people are staying in them until they want to sell.”
The older sellers of a private island, for instance, are reluctantly downsizing to a nearby condo.
Their custom-built spread, Merancas Island, at 14051 Island Dr., sits on 4.5 acres in Huntersville, and has a new ask of $15 million — down from Grier’s attention-getting 2023 pricing of $22 million. The $15 million now comps out, she said.
Designed by Charlotte architect Harry Schrader, a gated, winding drive leads to the primary residence with five bedrooms and seven baths in 14,346 square feet, with an additional two-bedroom guest house.
It has Craftsman-style details, a two-story sculptured stone fireplace, a dramatic master bedroom and an indoor pool. A long sandy beach for outdoor swims has a kayak/paddleboard launch ramp.
The landscaped grounds include a doghouse with room for visiting pups, a sculpture garden, a private tennis court and two boat docks. A long fixed dock topped by a gazebo has been the site of multiple family weddings.
“It took years to design and years to build,” Grier said. “They brought in all the infrastructure and utilities and now someone else can enjoy it.”
This stunner at 124 Wellcraft Ct. asks $13.8 million. Skycam Digital
The offering also delivers a pool area. Skycam Digital
Features include high ceilings and tall windows that let in natural light. Skycam Digital
In nearby Cornelius, a 7,209-square-foot home at 16716 Belle Isle Dr., with five bedrooms and eight baths, sold for $11.5 million in July, through Ivester Jackson.
Located on 1.65 acres, it has both an infinity pool flanked by flaming tubs and a sandy beach along its 365 feet of shoreline.
Offers came from prospective buyers that live in California, Virginia and Greenwich, Connecticut, along with nearby Greensboro. They are all seeing the benefits of Lake Norman along with the likes of NASCAR cup winners Dale Earnhardt, Jr. and Kyle Busch; reality star Kate Gosselin and golfer Tim Moore, who all have homes in the various communities.
Sports legend Michael Jordan even paid $2.4 million in 2013 for a 12,319-square-foot foreclosure in Cornelius that’s now estimated by Zillow to be worth over $7.5 million — but if Jordan ever sold, his estate could also top $10 million.
A $13.8 million Ivester Jackson listing at 124 Wellcraft Ct. with 1,000 feet of shoreline along a private peninsula in Mooresville is fenced and entered through an electric gate. Its 7,191 square feet has six bedrooms and eight baths with beautiful millwork, a home theater, an outdoor pool and a spa.
The 12,002-square-foot 19125 Peninsula Point listing dazzles with water views. Skycam Digital
The handsome exterior pairs with sunsets. Skycam Digital
An aerial of the property. Skycam Digital
A spacious bedroom inside. Skycam Digital
Even an outdoor kitchen adds to the glam. Skycam Digital
After three years of designing a home at 19125 Peninsula Point in Cornelius, those owners are cashing out and building another nearby. Jackson has just listed this fully furnished, 12,002-square-foot modern manse for $18.89 million.
Everything in the six bedrooms and eight baths on three levels — including a copper-clad soaking tub — was curated by Cornelius local, David Smith Custom Interiors.
Along with dual kitchen islands and a scullery in the main cooking area, the walkout lake level has a second kitchen, a golf simulator, ping pong and billiards tables, a gym, a sauna and a wine cellar. Outdoor amenities include a resort-style saltwater infinity pool and spa, a firepit, a fireplace and a grilling patio.
“The sellers are including the boat and jet skis,” Jackson said. “It’s a prime location and the house just glows.”
After two years on the market, the sellers of a chateau in Cornelius at 18019 Harbor Light Blvd. are hoping the time is right to get $16 million. The 15,000-square-foot mansion has an elevator to serve is six bedrooms and 11 baths with soaring ceilings, a lavish master suite with a private patio and a magnificent Clive Christian spa bath, along with a free form pool.
The listing by another agent with Premier Sotheby’s International Realty includes a five-car garage as well as a safe room.
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Publish date : 2024-09-24 05:49:00
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