The number of ultra-wealthy home buyers has grown 19% over the past five years, according to Knight Frank, and they’re not only willing to spend $10 million or more in global hotspots like Dubai and New York – but even less. popular areas around Lake Norman in North Carolina.
Although one of those lake towns, Mooresville, is now the fastest-growing U.S. suburb with many homes priced under $500,000, the mansions that sit on the state’s largest lake are also now topping $10 million per first time.
“Three sold in just the last 45 days, and we weren’t seeing anything over $10 million before,” said Lori Ivester Jackson, broker and founder of her eponymous firm, Ivester Jackson Distinctive Properties — an affiliate of Christie’s International Real Estate. “Lake Norman is on the map and on people’s radar.”
Jackson values the 36-mile 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 excellent flight service,” she added.
(A 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” — close to a good flight service.)
“There used to be a difference in what the North Carolina luxury market was and what other markets like New York City or South Florida thought was luxury, and the bar continues to rise,” said Josh Dearing of Serhant North Carolina, area of Ryan Serhant. subsidiary.
Lake Norman’s seven homes are now priced between $9.9 million and $21.99 million with a new, still-secret Serhant in Cornelius listing priced at $25 million. “It’s a testament to where this market continues to go,” said Charlene Dearing of Serhant.
Influencer Olivia Culpo and her now-husband Christian McCaffrey, 49, of San Francisco, bought a French-inspired mansion in Mooresville for $7 million when he was a Carolina Panther. Since it went on the market in 2022, the nearly 12,000-square-foot home has been on the market for $12.9 million — and with that $10 million mark broken, it may finally find a buyer.
(The couple’s agent and media representatives 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 home on 1.25 acres for $10 million in late August.
Busch’s former home at The Point, HOA affiliated with Trump National Golf Club Charlotte, was sold to a local LLC. An elevator serves the five bedrooms and eight bathrooms of the 11,132-square-foot residence, with a roof deck and a cupola topped by a weathervane of flying geese.
Another Point home on nearby Longfellow Lane with five bedrooms and seven bathrooms 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 Trump Course is the best.”
The seller paid $4.5 million in 2020, just as lake life got a big boost from COVID-closed jobs and summer camps. They were able to customize it during construction, adding swim jets for training, a golf simulator and solar panels.
According to Pegram, these long-held luxury properties are now being resold at a time when similar new construction can cost $20 million and up.
Jessica Grier of Premier Sotheby’s International Realty said, “These are custom-built homes and people stay in them until they want to sell.”
Older sellers of a private island, for example, 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 asking price of $15 million — less than Grier’s 2023 asking price of $22 million. The $15 million has now been met, she said.
Designed by Charlotte architect Harry Schrader, a gated and winding drive leads to the five-bedroom, seven-bath main residence on 14,346 square feet, with another two-bedroom guest house.
It has Craftsman-style details, a two-story carved stone fireplace, a dramatic master bedroom and an indoor pool. A long sandy beach for outdoor swimming has a kayak/paddleboard launch ramp.
Landscaped grounds include a dog house with room for visiting pups, a sculpture garden, a private tennis court and two boat docks. A long dock with a gazebo has been the site of many 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.”
In nearby Cornelius, a 7,209-square-foot home at 16716 Belle Isle Dr., with five bedrooms and eight bathrooms, sold for $11.5 million in July through Ivester Jackson.
Set on 1.65 acres, it features both an infinity pool surrounded by hot tubs and a sandy beach along 365 feet of shoreline.
Offers came from potential buyers living in California, Virginia and Greenwich, Connecticut, along with nearby Greensboro. They are all seeing the benefits of Lake Norman along with NASCAR Cup Winners Dale Earnhardt, Jr. and Kyle Busch; Reality star Kate Gosselin and golfer Tim Moore, who all have homes in different communities.
Sports legend Michael Jordan even paid $2.4 million in 2013 for a 12,319-square-foot Cornelius condo, which is now valued by Zillow at over $7.5 million — but if Jordan were to ever sell, his fortune it could also reach $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 bathrooms with beautiful millwork, a home theater, an outdoor pool and a spa.
After three years of designing a home at 19125 Peninsula Point in Cornelius, those owners are cashing out and building another one nearby. Jackson has just listed this fully furnished, 12,002 square foot modern townhouse for $18.89 million.
Everything in the six bedrooms and eight bathrooms over three levels — including a copper-clad bathtub — was curated by Cornelius local David Smith Custom Interiors.
Along with dual kitchen islands and a pantry in the main cooking area, the walk-out lake level has a second kitchen, a golf simulator, ping-pong and pool tables, a gym, a sauna and a wine cellar. Outdoor amenities include a resort-style saltwater infinity pool and spa, a fire pit, a fireplace, and a grilling patio.
“Vendors are including boats and jet skis,” Jackson said. “It’s a prime location and the house just shines.”
After two years on the market, the sellers of a Cornelius cottage at 18019 Harbor Light Blvd. hope it’s the right time to get $16 million. The 15,000-square-foot mansion has an elevator to serve it, including six bedrooms and 11 bathrooms with high ceilings, a luxurious master suite with a private patio and a magnificent Clive Christian spa bathroom, along with a plunge pool. free form.
The listing from another agent with Premier Sotheby’s International Realty includes a five-car garage as well as a safe room.
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