Charlotte Ranks 10th Nationwide for Growth in High-End Home Prices

Charlotte claimed the 10th spot among U.S. metros for the fastest growth in luxury home prices over the past decade. An analysis from Redfin Real Estate shows this. The Queen City's top-tier price point soared 121% from October 2015 through October 2025. Median sale prices climbed from $751,491 to nearly $1.7 million.

The research and online brokerage group defines these residences as properties in the top 5% of each area's price distribution. That price tag tends to exceed $1 million. The survey examined the 50 most-populous U.S. metros.

Sunbelt states, particularly Florida, dominated the rankings. Tampa, Orlando, Miami, and West Palm Beach all ranked above Charlotte, with West Palm Beach leading at a growth rate of almost 188%. Denver, Seattle, Las Vegas, Phoenix, and Nashville also ranked higher. Nashville came in second.

Gary Scott serves as president of Howard Hanna Allen Tate Real Estate. He said the price shift and increase in these residences is something agents have witnessed firsthand. MLS data reveals 379 units sold for over a million dollars in 2015. This year? A staggering 2,669 units topped that mark — an average of 222 per month.

The overall housing sector is seeing prices climb. In November, the median sale price rose 1.2% to $430,000, according to Canopy MLS data. The metro area saw an increase of 3.1% to $415,000.

Year-over-year sales growth showed an almost 20% increase in transactions between $600,000 and $700,000. Canopy reported this. Myers Park saw a 38% jump in growth sales using Homes.com data. The average sale price in the historic neighborhood? Almost $1.9 million.

Properties are appreciating at a higher rate, Scott said. The area ranked 12th for annual price appreciation out of the 40 largest markets, according to Homes.com. That equity is boosting prices. It's allowing residents to move into pricier housing.

The growing population is another factor. Newcomers, who often arrive from California and New York, are accustomed to that type of pricing.

"Our prices have moved dramatically … But we have an affordable alternative, which makes Charlotte and the Carolinas a really viable option for companies and individuals," said Scott, according to The Charlotte Observer. "We are on the map as a desirable location and that's really a dramatic shift in the past 10 years."

For those not selling or buying million-dollar residences, Scott said the market is entering a balanced and predictable era. Inventory is increasing. Interest rates are dropping. The average sale price is rising at a slower pace.