Dec 11, 2023 - Real Estate

Luxury Lake Norman estate with private beach sold for record-setting $7.5M

Photo: Courtesy of Skycam Digital

This luxury estate on Lake Norman recently sold for $7,500,000.

State of play: The mansion, at 130 Points End Dr., is tied with Christian McCaffery’s mansion for being the most expensive home ever sold in Mooresville.

  • It’s the second most expensive home sold in Lake Norman, according to a press release. The record sale was marketed by Ben Bowen with Premier Sotheby’s International Realty’s Lake Norman.

Layout: At almost 7,000 square feet, this contemporary new build has four bedrooms and five bathrooms.

  • Luxury features include a private sandy beach, private boat dock, pool, outdoor spa and fire pit. 
  • It also features a panoramic view of the lake from the floor-to-ceiling windows throughout the house.
  • The home also features a standalone waterfront fitness lounge with lake views.

Why it matters: The number of luxury listings is surging in the Lake Norman area and beyond — in fact, in the Charlotte area, $1 million homes have become the new normal.

By the numbers: Locally, the median-priced luxury home was $1,300,000, up 8% from last year, according to a Redfin report.

  • The luxury supply was up 4.2%, while non-luxury supply was down 18.1%.

The big picture: Luxury home sales are up in nearly a third of major U.S. metros, per the Redfin report.

  • Luxury housing supply rose 3% across the U.S., and sales surged more than 30% in some metros.
  • Meanwhile non-luxury home sales were down in every major U.S. metro, and non-luxury supply is down 21% overall.

The intrigue: A growing share of luxury buyers are paying in all cash (43%) or weathering high mortgage rates in hopes of refinancing later, per the report.

  • Cash deals make up an average of 18.7% of all real estate deals in Charlotte.

Bottom line: The luxury real estate market isn’t as burdened by high mortgage rates and home prices.

Take a look around: 

All photos courtesy of Skycam Digital.

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