Whether oceanfront, a mountain view or something on a lake, wealthy homebuyers are spending records for ultra-luxury dwellings across North Carolina.
Realtors report more working professionals joining the ranks of luxury homebuyers rather than retirees, who have long dominated the higher-end market. The buyers also are increasingly paying cash, making higher interest rates less of a concern.
Here’s a look at some recent record-setting home sales.
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COASTAL BREEZE
The most expensive home sale in North Carolina’s history took place in July for a beach mansion on Figure Eight Island in New Hanover County. Herbert Allen III, president of New York-based private investment firm Allen & Co., bought the mansion for $13.9 million. His neighbors include movie stars Jennifer Aniston and Julia Roberts, politicians Al Gore and John Edwards, former Morgan Stanley CEO John Mack and UNC Tar Heel football coach Mack Brown, according to Mansion Global, a luxury home listing site.
J. Long Custom Homes built the 6,700-square-foot home at 102 Beach Road South near Wilmington. The five-bedroom, eight-bathroom home was the last one designed by the late John Stirewalt, who designed more than 150 homes in a career spanning more than 40 years on Figure Eight Island.
The luxury real estate market for oceanfront properties along the North Carolina coast continues to boom, according to J. Long Custom Homes. In 2023, eight homes in New Hanover County sold for more than $5 million.
While this estate now holds the record sales price, a home on 40 acres perched atop a mountain above the town of Highlands went on the market earlier this year for nearly $50 million.
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LAKE LIVING
A Lake Norman waterfront property in Cornelius closed for $11.5 million in July, smashing the $10 million barrier and setting historic multiple listing service records for Mecklenburg County, according to Ivester Jackson Properties and Christie’s International Real Estate.
Pacific coastal style design and expansive retractable glass waterside transitional spaces combine to create a 180-degree lakefront experience in the 14,701-square-foot home, according to Ivester Jackson Properties.
The main house features expansive Lake Norman views from front and rear vantage points, an infinity pool and spa, a natural beach, four en-suite bedrooms, numerous gathering spaces, and an attached guest lanai and sleeping quarters.
As of July, six other Lake Norman properties were listed on MLS for more than $10 million, the Charlotte Business Journal reported.
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MOUNTAIN VIEW
Auto dealer Vernon Krause, and his wife, Marie, paid $8.45 million for a home in The Cliffs at Walnut Cove in Arden, which represents the highest-priced single-family home sale this year in Buncombe County, according to Walnut Cove Realty.
The 7,640-square-foot home was built in 2021 in collaboration with Dillard-Jones Builders, DOMA Architecture and Tribus Interior Design. It includes a wine cellar, a personal gym and retractable screens on the main deck. At 2,800 feet, its elevation offers views of Pisgah National Forest, the Blue Ridge Parkway, Biltmore Estate and downtown Asheville.
The August sale is the highest-priced home sale in the 33-year history of The Cliffs Communities, which is owned by Charlotte-based South Street Partners. The sale represents the growth in Buncombe’s luxury housing market, with 10% of homes sold in the county in the second quarter of this year fetching $1 million or more, according to Walnut Cove Realty.
Vernon Krause lived in Buncombe County about 40 years ago, but his Krause Auto Group business took him away to Georgia and Florida. Krause remains active with his 23 dealerships, which include Asheville Ford, Asheville Lincoln and Huntersville Ford in Mecklenburg County, as well as 11 dealerships in Florida, seven in South Carolina and five in Georgia. ■