Since Donald Trump purchased The Point Golf Club situated in the renowned luxury community The Point on Lake Norman last spring, there has been avid speculation about how he will impact the entire community’s ambiance and the values of the more than 800 luxury and waterfront homes. Today, as you drive through The Point and you will see workers just about everywhere; from the golf course itself where all 18 holes are being lengthened and upgraded to landscaping crews to painters to workers remodeling “The Tavern” and dining room. It turns out Mr. Trump doesn’t like grey so the quaint gray shingled Nantucket-style builds at “The Village” including the building pictured above at the traffic circle, are now a very bright white! Continue reading
The Point in Mooresville NC is arguably the most prestigious luxury community in all of Lake Norman and it is also the largest with 18 miles of beautiful Lake Norman shoreline.
Exactly one year ago I did a sales analysis of The Point for a client looking for insight into trends as well as an accurate assessment of the current market. But, how did this same luxury community fare in the past 12 months? You may be interested to find out they did and are doing quite well… But at what price? Here are the answers:
12-Month Sales By Price Range
*All data is from the Charlotte Regional Multiple Listing Service only and does not include sales that were not conducted through our MLS
Probably the most shocking number of all in the above chart of sales in The Point for the last 12 months is that there was one sale in the $300,000’s and 14 total sales under $600,000! In fact, this niche accounted for 27% of the annual sales. Almost HALF of the total number of homes sold in The Point were under $800,000. Of course, many of these were distressed sales of inventory left over from our peak building market of 2006/2007. Note that while this niche represented 46.5% of the sales it represents only 29.3% of the current inventory. Continue reading