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Myers Park Homes Over $1M- A Custom Home Market Report Charlotte NC

October 31st, 2008 Listed Under: Charlotte Homes for Sale, Community Reports

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charlotte nc|myers park, the heart of myers park, queens road west

Charlotte NC

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.
a very cool Sanctuary update

See a luxury Home in the Sanctuary

tall trees line myers park streetsMyers 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.

Charlotte Homes For Sale Report- Myers Park

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 a custom luxury home in myers park charlotte ncwas 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 how do the sales work in Myers Park? How are the Days on Market (DOM) affected by the slow market? Let me give you a few examples that I think show the range and tell the story.

A home at 1830 Queens Rd W, 4342 sf, was Listed at $1,395,000 and Sold at $1,350,000 in 43 days in this summer- about $310/sf– a great address, great lot, but in need of upfitting, because the first floor had only 8′ ceilings.

custom luxury home in myers park charlotte ncA block or so down the street, 1756 Queens Road W, 6,559 square feet was Listed at $3,095,000 and sold at $2,600,000 or $396/sf in 136 days.

The median Cost per Square foot of all Myers Park area Solds, through 3 quarters is $334.00, reflecting a range based on street location, level of updates and general appeal. Exact range details and other research is available to our clients.

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.

Myers Park and Eastover Pictures (Over 50)

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Moving to Charlotte? Your first Charlotte home?

Have a home buying or home selling questions? I am a Charlotte real estate broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day in Myers Park, Southpark, Matthews and Huntersville, Lake Norman, Waxhaw and Lake Wylie too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser.

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 (check the categories on left for more)

Charlotte Homes For SaleMap & Community Based, over 20,000 properties for sale!

Charlotte NC Homes Best Value Under 500K

New Luxury Homes Over $1M- The Sanctuary Leads after 3 quarters

Charlotte North Carolina Real Estate- More Good Years Ahead

Bank of America Preferred RealEstate Broker

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Terry McDonald
I'm the owner/team leader of The McDonald Group at Wilkinson and Associates ERA Powered real estate brokers here in Charlotte NC. A transplanted Washinghtonian, my family and I came from the NYC area in 1993.
Terry McDonald
Terry McDonald

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    […] weeks. If you want to see some Dilworth pictures, check out Dilworth Homes, and here is a recent Myers Park Market Report if you’d like to check out your […]

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The McDonald Group
Wilkinson and Associates ERA Powered
8604 Cliff Cameron Dr ST 110
Charlotte NC 28269
704-390-6221 Cell
704-393-0048 Office
Licensed in NC & SC
USAA Certified
ERA Luxury Home Certified

Charlotte Communities Online

Terry McDonald [email protected]   704-351-1519

Bobby McDonald [email protected] 704-351-1519