Charlotte Luxury Housing Market Reaches New Record Sale at $8.4M

Charlotte Luxury Housing Market Reaches New Record Sale at $8.4M

Héloïse Dubois
2 min read

Charlotte Luxury Housing Market Hits Record with $8.4 Million Mansion Sale

The luxury housing market in Charlotte, North Carolina has reached a new pinnacle with the sale of Michael and Wendy Kahn's 12,700-square-foot mansion for $8.4 million. This significant transaction, at around $660 per square foot, establishes a record for the Charlotte metro area, surpassing the previous pinnacle of $7.67 million set in December for an 11,500-square-foot home on Lake Norman. The Kahn's property, situated in the gated Greenwood community on Providence Road, was originally listed for nearly $7.9 million in August 2022. The mansion, constructed in 1996, boasts five bedrooms, ten-and-a-half bathrooms, and a plethora of luxury amenities including a home theater and a pirate-themed game room. With other high-value residences such as a $22 million Mooresville estate and Christian McCaffrey's $12.5 million Lake Norman mansion also available, the benchmark for luxury home sales in Charlotte could ascend even higher.

Key Takeaways

  • Charlotte Checkers owner Michael Kahn's mansion sold for $8.4 million, setting a new record in the Charlotte metro area.
  • The 12,700-square-foot mansion sold for approximately $660 per square foot, surpassing the previous record by $1 per square foot.
  • Kahn purchased the property in 2013 for $1.95 million and conducted extensive renovations.
  • The mansion features a recording studio, gym, home theater, and a pirate-themed game room, among other luxury amenities.
  • Potential future record-setting homes in Charlotte include a $22 million Mooresville estate and Christian McCaffrey's $12.5 million Lake Norman mansion.


The record-setting sale of Michael Kahn's mansion reflects a thriving luxury housing market in Charlotte, fostered by towering demand and limited supply. This trend is likely to entice more high-net-worth individuals and investors, potentially driving up property values further. Local real estate agencies and luxury home builders stand to gain in the short term, while long-term effects encompass gentrification concerns and heightened property taxes. The sale also signifies a strengthening economy, influencing local businesses and services tailored to affluent residents. Future developments might witness sustained price escalation, posing challenges for affordability in non-luxury segments.

Did You Know?

  • Charlotte Luxury Housing Market: This denotes the segment of the real estate market in Charlotte, North Carolina, dealing with high-end, pricy properties. These residences often incorporate extensive amenities and are priced significantly higher than the average homes in the area.
  • Gated Community: A type of residential development featuring controlled access, usually through a gate and security personnel, restricting entry to residents and their guests. This is a prevalent feature in upscale neighborhoods, providing an added layer of privacy and security.
  • Per Square Foot Pricing: This is a method used in real estate to determine a property's value by calculating the cost per square foot. It is computed by dividing the total price of a property by its total square footage. This metric aids in comparing the relative value of properties of different sizes.

You May Also Like

This article is submitted by our user under the News Submission Rules and Guidelines. The cover photo is computer generated art for illustrative purposes only; not indicative of factual content. If you believe this article infringes upon copyright rights, please do not hesitate to report it by sending an email to us. Your vigilance and cooperation are invaluable in helping us maintain a respectful and legally compliant community.

Subscribe to our Newsletter

Get the latest in enterprise business and tech with exclusive peeks at our new offerings