North Carolina is becoming a prime destination for people wanting to settle down in the south. With low property taxes, tranquil neighborhoods, and a perfect climate for retirees, the state has welcomed more than 110,000 new residents since 2015.
It is also known for offering the best luxury homes in the South. From a guest house with a private beach or a mansion with a wine cellar, you will find great selections that fit any lifestyle.
Are you looking for luxurious homes for sale in the Tar Heel State? Perhaps you would like to sell your North Carolina home and find a smaller or larger one? You will need to do further research on North Carolina’s most expensive house sales and see if you are in the best situation to make your move. In this guide, we will be talking about the most expensive homes along with information about North Carolina’s real estate market.
Overview of the North Carolina Real Estate Market
Despite the challenges brought by the pandemic, North Carolina continues to thrive. You can go online, search for “companies that buy houses in North Carolina”, and see how optimistic they are.
New Home Source considered the State as an attractive destination for retirees and property investors due to how affordable it is. Here, you will find luxury options that don’t carry the same price tags as similar properties in Los Angeles or New York City.
Before you get started, you will need to know where the North Carolina real estate market is going in 2022. Like other real estate markets nationwide, the State saw unprecedented price appreciation over the past year. According to Fortune Builders, the median price for a single-family home before the start of the pandemic last year was $210,000. At present, prices have risen to $248,950. According to Redfin’s estimates, the median price for a single-family property is $359,900 at $176 per square foot.
A dramatic reduction in the housing supply has caused prices to reach historic levels. Redfin reported a year-over-year price appreciation of at least 17.8% in November. Despite inventory challenges, the State is expected to perform better than other areas in terms of new home sales. In fact, around 14% of home sales in the state were purchased by buyers who bought more than one home.
This only proves North Carolina’s continued resilience in attracting investors and first-time buyers looking for affordable options outside of saturated markets like Florida and California. As the high demand for luxury homes keeps increasing, 2022 will turn out to be a great year for homeowners, even those selling houses for cash.
The local luxury market is also looking to perform well next year. Currently, there are more than 7,772 luxury homes listed by Sotheby’s International Realty. Shortage in the luxury housing inventory is expected to persist nationwide and this will benefit luxury homeowners who are looking to tap their real estate value and offload their properties.
Whether you are buying or selling North Carolina real estate, you will need to know at what price luxury homes are selling in your neighborhood. The next sections will guide you on the most expensive real estate sales in North Carolina.
Prime Real Estate Prices in North Carolina
As of now, house prices in North Carolina are rising across all asset types. The prices depend on the location with Raleigh having an average listing price of $379,000. Charlotte comes second with $374,500. You will probably get the same answer from a company that says “we buy houses in Charlotte.”
However, if you are in the market for an expensive home in North Carolina, you might want to check out the following zip codes for prime real estate:
Median home price: $459,500
Price per square foot: $179
Median home price: $475,000
Price per square foot: $181
Median home price: $550,000
Price per square foot: $200
Median home price: $599,000
Price per square foot: $368
Median home price: $599,900
Price per square foot: $368
Compared to the country’s top metros, buying an expensive home in North Carolina is less costly. You will have more room in your budget for the same amenities as a Manhattan penthouse. If you are a homeowner looking to sell your North Carolina home, there is more than enough demand in the luxury market to get your house listed. Still, it would be better to get an investor to purchase your home if you want to avoid running into mortgage-paying trouble.
It’s just a matter of reaching out to a North Carolina real estate professional who can pull out comparables in your neighborhood and give you the best value on the market. Let’s take a look at the most expensive home sales in North Carolina and get a good idea of how much value you will be getting.
The Most Expensive Home Sale in North Carolina
High-rollers like property mogul and former President Donald Trump and hedge fund manager Ken Griffin look towards New York and California for prime real estate. However, today’s investors are looking outside Bel Air and Beverly Hills for properties. Fortunately, North Carolina has several neighborhoods that rival other areas in terms of price. You will find a number of beachfront properties, including one on Bald Head Island which sells for about $11,000,000.
Let’s look at some of the trending luxury houses for sale in North Carolina.
Built in 1998, this coastal single-family home fetched an impressive $11,000,000. The house is closer to a Malibu home than any other property. It features two attached garage spaces and lavish interiors with nine bedrooms and 12 bathrooms. The highlight of this property is the beautiful oceanfront view. Complete with a sundeck, a boardwalk leading to the beach, and an outdoor pool, this property has everything you ever needed in a vacation home.
A more recent addition to the State’s luxury real estate market, this property is located in Western North Carolina’s premier everyday neighborhoods. Offering breath-taking mountainside views, this 12,040 square-foot mansion has seven bedrooms and 7.5 bathrooms. There are also spaces for a home office as well as a fitness center.
Another property on this list that offers a great view of the ocean, this 2018 construction is a keeper for investors focusing on vacation rentals. The property currently sells for $9,999,999 and provides 12 bedrooms and 12.5 bathrooms. It’s located near Pine Island and has a wide range of amenities, including a golf course, indoor spa, game rooms, and even an English-style pub on the top floor. Due to these features, the property won the Judges Award of Excellence and the People’s Award during the 2018 OBX Parade of Homes.
Buyers who prefer woodland living might like this seven-bed, 6.5-Bath prime property near Fontana Lake. Surrounded by trees for extra peace and privacy, this stone and wood house offers a luxurious living space for families that want to get away from the noise of the big city. Selling for $9,990,000, the property deserves a spot on this list of expensive North Carolina homes for sale.
Located on a 200-plus acre farm, this home is located five miles away from the Asheville Airport. It features short-range mountain views and natural amenities including an orchard, woodland area, and forest trails. It sells for about $9,950,000 and it’s the closest you will get to experiencing nature in style.
This piece of North Carolina real estate is a keeper. It has a master suite with a fireplace, sitting room, and a copper slipper tub that gives an exceptional view of the nearby golf course. Seated within North Carolina’s second-richest neighborhood Biltmore Forest, the property sells for $9,750,000. It’s a fair price for a home that boasts a guest apartment, billiard rooms, and an elite pool area.
Also located in the prestigious Biltmore Forest community, this property is a new addition to the neighborhood’s sprawling luxury residences. Consisting of five bedrooms and 4.5 bathrooms, the property was designed by renowned Asheville architect Robert Griffin. It includes an elaborate Tudor-style interior complete with oak floors and hand-painted tiles. With a price tag of $9,750,000, this property would be a great find for luxury hunters.
Designed by award-winning Tim Greene and Associates Residential Design, this home sits within a private and serene 37-acre hardwood forest area. Giving off a rustic feel with its oak floors and antique beams, the property provides for a perfect balance between comfort and luxury. The patio area gives an exquisite view of the sunset. Despite its rural setting, the home is situated just two hours away from Atlanta. Buyers can close in on this prime mountain property in Western North Carolina for $8,950,000.
For a price of $8,725,000, this 17,000 square foot gated property in the premiere Biltmore Forest neighborhood is complete with six fireplaces and reclaimed wood beams. The property is noted for its large garage which can house up to eight cars. This makes the house the perfect living space for vintage car collectors and automotive enthusiasts alike.
This property is the epitome of luxury in the coastal neighborhood of Corolla. At an $8,500,000 asking price, the house comes with a gorgeous spiral staircase and a private wine cellar that can store up to 400 bottles. It also boasts a recreational room and exquisite bedrooms with breathtaking views all around. Plus, it has a 12-person hot tub and a cascading waterfall that can make every day a spa day.
Do you need enough space to breathe? This property offers just that with its expansive lot totaling 350 acres. Priced at $8,000,000, it is known as the Butler Farm, renowned for its state-of-the-art stables. If you are a horse breeder, then this property might be the best one to have in Bladen County.
Built in 1987, this six-Bed, 7.5 Bath property on Sea Lilly Lane is located within a private community adorned with tropical trees and a stunning view of the Intracoastal waterway. The compound includes a guest house and sports facilities, specifically a basketball court, a tennis court, and an Olympic-sized swimming pool. Get all these at an impressive price of $7,995,000.
Want to know what it’s like to live in a fairytale? Move into this four-Bed, 5.5-Bath mountain home that has an infinity pool and a terrace area that offers a stunning view of the valley. Located in Cashiers, this property sells for $7,990,000. Not bad for a vacation home investment.
Situated within a 77.35-acre lot, this property offers a breathtaking view of Lake Glenville and the surrounding mountains. It features a spacious interior for holding events and 11 bedrooms. Moreover, it provides ample storage facilities as well as workshop areas. Perfect for large gatherings and corporate retreats, the house sells for $7,895,000.
A marvelous home situated on 4.55 acres of sweeping 360 degrees Asheville mountain views & nestled behind the gates of Wildcat Cliffs. For $7,500,000, aside from the astonishing location, this house includes the finest in materials and craftsmanship, including Geothermal heated wood look Italian porcelain floors, Italian porcelain countertops, 3Form Architectural resin for enhancing design features, Loewen windows, and Turkish & Portuguese limestone exterior features.
Whether you are buying, selling, or investing in a luxury home in North Carolina, you must know how much such property is selling on today’s market. With this guide, you will be able to determine your budget or set a good price for your North Carolina home.