The $1M Luxury Home Market in Myers Park- Sales Down, But Prices UP Though 3 Quarters
If you are looking for a luxury custom home, very near Uptown Charlotte NC, the main hospitals, Southpark, then Myers Park will be on your short list. The photos on the left are of Queens Blvd. West, probably Charlotte's most beautiful street, certainly its most prestigious address. Myers Park was laid out early in the 20th century, and was Charlotte's first "suburb" past the commuter village of Dilworth. 80-100 year old trees are the norm here, as are wide and windy streets, over a contoured landscape. Charlotte is in the foothills of the mountains with gentle rolling hills throughout most of the area, and in Myers Park the gentle hills add to the landscape . See my well received video on the right for a quick tour.
Myers Park has been being renovated, for the "n" th time, in the last decade. There are quite a few new homes- they are either teardowns or infill- but Myers Park is and has been the most popular address for Charlotte elites for many years. It is clearly the #1 community in Charlotte for over $1M home sales. Last Week, The Sanctuary "won" the first 3 quarters - for New Homes sales for Over $1M Sales in a New Home community in Charlotte, but Myers Park still had 50% more sales over 1M through the first 3 quarters of 2008.
In 2008, through 9/30/08, the Myers Park area had 21 homes sell, down 38% from 2007, for more than $1Million. The median Sold price of $1,714,547 was virtually unchanged from 2007, however the average Cost per Square Foot of the Sold price 
was UP 3.7% over 2007.
Now that is a steady market! Sales off by nearly 40%, averages Sold Cost Per Square Foot is Up 3.7%! Blue Chip all the way.
So if you are a luxury custom home buyer, and want space, a retreat like area at or on the lake, you might choose the Sanctuary, where $300/sf buys both land and a great house. If you want a convenient intown address, it is probably Myers Park, or its equally beautiful smaller neighbor Eastover, but top of the line will run closer to $400.sf.
See the rest of the story here.
Myers Park and Eastover Pictures (Over 50)
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in luxury relocations, 2nd homes--buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don't miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it's between the hours of 8 AM to 8 PM, EDT, please don' t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Hows the Charlotte Market- Video
Charlotte Real Estate- More Good Years Ahead
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