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Lake Norman home commands record price

Mansion near Charlotte lands $7M buyer

Premier Sotheby’s International Realty's Ben Bowen with 20927 Bethelwood Lane
Premier Sotheby’s International Realty's Ben Bowen with 20927 Bethelwood Lane (Premier Sotheby’s International Realty, Google Maps, Getty)

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.

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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

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Charlotte real estateLuxury Real EstateNorth Carolina