The McDonald Group guides discerning clients to Charlotte’s most prestigious luxury homes and neighborhoods. Compare NYC’s record $2,400/square foot listing to these top Charlotte neighborhoods. It will be fun!

Myers Park – Charlotte’s premier luxury address with estate-sized homes from $1.5 million+, shaded streets and quality schools. Median $488/square foot, more for new builds.

Dilworth – This historic streetcar suburb offers restored $1-1.5 million Craftsmen homes. Perfect for young professionals working Uptown. Median price around $350/square foot.

Providence Country Club – Over 1,200 wooded acres with exclusive gated community and resort-style amenities. Luxury homes from $1 million+, $288/square foot median.

Weddington-Waxhaw – Among Charlotte’s most prestigious suburbs with larger luxury homes on spacious lots averaging $1-2 million+. Top Union County schools.

Lake Norman – Magnificent waterfront estates and new construction ranging $800K to $5+ million make this Charlotte’s prime boating and water sports destination. Median waterfront price around $550/square foot.

Ballantyne Country Club and surrounds  Nestled in south Charlotte, Ballantyne is an upscale suburban community centered around the high-end Ballantyne Corporate Park and Country Club. With top-rated schools, manicured golf courses, and family-friendly amenities like the Shadowlake YMCA and popular Blakeney shopping center and cinema complex nearby, Ballantyne offers resort-style living just minutes from Uptown. With a peaceful, low-density feel compared to busier parts of Charlotte, Ballantyne appeals to executives and families looking for an exclusive address they can call home.  Median home prices $310/sf.

For insider perspective on Charlotte’s luxury market, connect with broker Terry McDonald, most afternoons at 704-390-6221.  Let the seasoned advisors at The McDonald Group shorten your learning curve whill helping you find that perfect home and ‘hood.

We think you’ll find Queen City luxury living an outstanding value.

How to get started? Easy, it starts with scheduling your call with Terry McDonald, a top agent with his own relocation story. See Terry’s introduction to the Queen city here.  It is a bit older, still a classic with over 100,000 views.  Call Terry at 704-390-6221, afternoons best for a direct connection.

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Fall in Love with the House, But Just Date Your Rate

If you’re tired of throwing away money on ever-increasing rent payments, know there are options here in Charlotte, North Carolina. The key is understanding the relationship between home prices and mortgage rates. While the adage says to “marry the house but date the rate,” current conditions actually call for falling in love with the house while just dating the rate.

What does this mean? The house itself is long-term; you can make it suit your needs for years or decades to come through renovations and remodeling projects. Mortgage rates, on the other hand, fluctuate often depending on market conditions. So while you don’t want to become attached to a particular rate, you do want to commit to the right house for your needs.

The Best Time is Now for Charlotte Homebuyers

For whole story visit the McDonald Group

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So what’s causing these price drops if home prices are rising? It’s bad luck for the builders really. They’ve finally reach the production levels we’ve needed from them (back to 2006 levels), but now the interest rates are around 8%, pushing buyers out of the market. The result is many almost finished homes are sitting on the market and not selling. This is terrible for the builders. Every month a home sits completed, but not sold, they’re paying taxes on it and tying up their financing needed to start new projects.

New home builders will not negotiate with you on price when you’re building a home from scratch. When it’s almost complete, or when it’s been complete for several months, they’re very keen to make a deal. Pay attention to the emails you get from new home builders (if you get any haha). You’ll notice the price drops and financing incentives starting to look really nice. So if you’re in the market, consider a new home! These deals will only last until interest rates drop and more buyers enter the market. It’s the best time in recent memory to buy a new home in Charlotte!

Benefits of a New Home:

• Many new home prices are dropping! Almost complete homes are sitting on the market. This means price drops and incentives for buyers. Make them an offer! They often can’t build more homes until the homes sitting on the lots sell.
• Financing incentives. Most builders have preferred lenders who are offering ~$10K in financing incentives. That’s a big deal! That means no closing costs or buying down your interest rate. It’s up to you. Some lenders are also offering a “free” refinance in the first 2 years. What they mean is they’ll charge no lending fees for the refinance. So you pay ~$500 for the appraisal and ~$1,000 for a closing attorney and you can refinance once rates begin to drop.
• New home warranties. Most new homes come with extensive warranties. You should be covered for the first few years at least.

Drawbacks of a New Home:

• Many new homes are being built on small lots. Want some space between you and your neighbor? Pay a lot premium so you don’t back up to other homes or build a fence. 9 out of 10 new homes are built on small lots. This changes a bit as you get into higher price points, but land still comes at a premium with new construction.
• Welcome to the country. Most new home communities are on the outskirts of the city. That’s simply where the land is these days. Are you OK with that? Some smaller new home communities (called in-fill projects) are built closer into town on land that was previously undesirable or difficult to built on.
• Be prepared for the up-charge. If you’re building from scratch, identify what is included in the base model of the home, and then plan on spending significantly more than that (as much as $100K more), after adding in structural changes and design upgrades. These add up quickly!

The post New Homes: A Great Deal For Charlotte Home Buyers Right Now! appeared first on Charlotte Communities Online.

It’s been a first home favorite of new Charlottean’s for decades.  Here are the latest numbers, homes sold and more.

Madison Park: The Neighborhood

The neighborhood is characterized by a mix of architectural styles, including ranch-style homes, traditional two-story houses, and some newer constructions. Many of the properties feature spacious yards, well-maintained landscaping, and a blend of mature trees that provide a welcoming ambiance.  Madison Park is a charming subdivision located in South Charlotte, North Carolina. Known for its convenience and tree-lined streets, Madison Park offers a peaceful residential community within close proximity to the vibrant amenities of the city.

Madison Park is highly regarded for its convenient location.  Situated just a few miles south of Uptown Charlotte, residents have easy access to the city’s bustling Uptown area,  Southend, as well as a wide range of shopping, dining, and entertainment options. Popular destinations like SouthPark Mall, Park Road Shopping Center, and Montford Drive are within walking distance, or a short drive.  Pasta and Provisions,  Brawleys Beverage, Viva Chickn are all nearby neighbors! Popular Legions Brewery is 10 minutes away, as well as most of Southend and all it has to offer.

Parks and Outdoor Amenities

The community also benefits from its proximity to natural spaces. Nearby parks, such as Park Road Park and Freedom Park, offer ample opportunities for outdoor recreation, including walking trails, sports fields, and picnic areas. The Little Sugar Creek Greenway, a scenic urban trail, runs through the area, providing residents with a tranquil escape for walking, biking, or jogging.

Madison Park Real Estate

In the last 30 days, there were 8 closed sales, with prices ranging from $179.64/sf to 462/sf, with a median of $380/sf, or $404,000 to $776,000!

There are 4 Active Homes for sale, the median price per sf is $322.00 as of June 13.

Interested in living in Madison Park, you can begin your search here:  Madison Park Homes here

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A Charlotte Real Estate Market Update

This data, derived from Canopy MLS Data through May 4, 2023,  and compared to the same time period in 2022.

Housing inventory remains tight

One of the biggest challenges facing Charlotte homebuyers is a lack of inventory. This spring phenomena is here for the year at least.  Higher interest rates make the move up buyer less inclined. There simply aren’t enough homes for sale to meet demand, which has led to bidding wars and rapidly rising home prices since 2020.

Demand remains strong

Despite the high prices and higher interest rates,  demand for homes in Charlotte remains strong. The better the home condition, and popular functionality, multiple offers and only strong offers prevail. This is due in part to the region’s growing economy, which has attracted new residents from across the country. Simple supply and demand-too many buyers seeking too few homes.

Interest rates remain low

One factor that is helping to drive demand for homes in Charlotte is the ongoing low interest rate environment. With mortgage rates still near historic lows, many buyers are eager to lock in a low rate and take advantage of the opportunity to own a home.  The decrease in new listings is worth noting, particularly the sharp drop in Waxhaw, nearly 28%- double the Charlotte area drop of 14.7%. However, it’s worth pointing out that the Lake Norman area has only seen a small decrease in new listings, under 3%, suggesting that different areas within Charlotte may be experiencing varying levels of supply and demand.

Despite rising median and average sales prices,  the cost per square foot has remained steady at $219 per square foot, virtually identical to the 220/sf a year ago. This suggests that the high prices are due in part to folks buying a bit larger homes rather than a true “price increase.”

Home prices in the Charlotte MSA are neither rising rapidly or declining, regardless of what you read elsewhere.  However your neighborhood WILL vary, and the homes with the very best collection of features, inside and out, will determine the ultimate demand and sales price. That is why you need a professional to determine the likely sale price of your home, a strategy to achieve or surpass it- well before it goes on the market. Call us, if you haven’t made a Realtor choice.

Search for Plaza-Midwood Homes

Search for Myers Park Homes

Search for Dilworth Homes

Search for Sedgefield Homes

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As always, you can search for Charlotte homes here

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See you in the ‘hood!  Terry

704-390-6221

The post Midwood – NODA-Belmont are Blowing Up! appeared first on Charlotte Communities Online.

We have called them relocations by choice.

Yes it is a powerful mix, a  grandchild or two, great city and wonderful climate- not to mention a lower cost of living of 3/4 of the major cities in the US.

The full article can be found here  Carolina Public Press

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So there’s no nice way to say it, homes near South End are ridiculously expensive now! Dilworth has been expensive for the past 20 years or so. Sedgefield is the “next” Dilworth but 5 or 6 years ago you could find a decent home there for $300K or so. No longer! Lot’s in Sedgefield go in the $400Ks these days!! Hell, the rent isn’t affordable in South End either, so don’t feel left out renters.

When I was growing up, if I told my parents I was going to South Blvd, there first question would be… Why?! Obviously the entire area has changed, it’s one of the fastest growing areas in Charlotte, with rents and home prices responding accordingly.

So what’s the intrepid first time home buyer to do? If you’re like me, you wanted to live close into the city — ideally not in a wreck, and in an area that’s almost guaranteed to appreciate well. The answer, perhaps, is Starmount! Starmount is the last of the South Blvd neighborhoods on the Blue Line that is affordable for most first time buyers.

Several years ago Starmount was one of the fastest appreciating neighborhoods in the greater Charlotte area! Not much has changed, Starmount has appreciated at 11% over the past year compared to under 5% for the rest of the MLS (all the homes in the Greater Charlotte Metro)

Ok, so Starmount is appreciating nicely — does that mean you’re just buying when the homes have already gone up? Not quite! The trick here is to watch the redevelopment along South Blvd. It hasn’t really reached Starmount yet. Don’t get me wrong, there’s a new gas station or two but they aren’t building $100M dollar developments along there light rail there… yet. The big, commercial redevelopment is currently at Scaleybark (think OMB) with a 15-acre mixed use development announced at the beginning of the year. Think office space, shopping, dining, a hotel, apartments, etc. They’re going to call it LoSo — I have some misgivings about the name haha, but the renderings look awesome.

Why does this help Starmount? If you look at the redevelopment of South Blvd it has been happening from South End out and the Scaleybark stop is only a few stops down from Starmount. The trick, at least in Charlotte, to buying quickly appreciating property is to buy next to the nicest areas in town and wait for the development to come to you. If you’re planning on staying in your home for the next 3 – 7 years and want to be along South Blvd, you want to take a good hard look at Starmount!

Already live in Starmount and wonder what your home’s worth or just want a look at recent sales? Here’s what’s been going on over the last month:

Related Links

• Starmount Homes for Sale
• LoSo Development Announced
• South Blvd Neighborhood Homes for Sale

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