Lake Norman Home Commands Sells For Record $7 Million

Lake Norman’s high-end market continues to make waves in North Carolina.

A mansion at 20927 Bethelwood Lane in Cornelius — about 20 miles from Charlotte — sold for $6.8 million, Charlotte Axios reported. Listed slightly higher at $7 million in May, the sale price was still a record by price per square foot off the lake, breaking down to $1,176 per square foot.

It was the second-most expensive sale to ever go down in Cornelius. The purchase was made through a trust, keeping the buyer’s identity obscured.

The 5,800-square-foot estate includes five bedrooms, six bathrooms and a four-car garage. The custom-built home also has a fire pit and in-ground pool outside, not to mention panoramic views of the lake. There’s also a fireplace, built-in shelving and large walk-in closets.

Premier Sotheby’s International Realty’s Ben Bowen held the listing. He spoke to a “crazy influx of money” in the local market when contacted by The Real Deal, noting the sheer size of opportunity that comes from Lake Norman’s 520-mile shoreline.

Sales are on the rise in Lake Norman, seeing a 3.3 percent uptick year-over-year in May, versus a 16.6 percent drop in Charlotte proper over the same period.

This latest deal unfolded on the same street that used to be home to a couple of NASCAR legends in Jeff Gordon and Rusty Wallace. The celebrity racing neighbors are far from uncommon in the area, though.

NASCAR competitors have become a critical driver of Lake Norman’s luxury housing scene, buoyed by the proximity to Charlotte International Speedway. Joey Logano recently sold his home in Cornelius for $4.3 million, while Denny Hamlin and Dale Earnhardt Jr. rock massive estates in the area.

Another NASCAR driver, Ricky Stenhouse Jr., has been trying to move his 9,000-square-foot home with an outdoor pavilion and infinity pool for a record $16 million. He isn’t even the only driver to live on the property, which was previously occupied by Ernie Irvan and Joe Nemechek.

— Holden Walter-Warner