The Cornelius home with a record-setting initial listing price of $18.999 million is under contract, according to the listing agent.

The property was listed on MLS in April for $18.999 million and reduced to $17.9 million two weeks later. The price dropped again to $15.9 million on May 10. The contract price was not disclosed but will become public if the sale closes.

“Honored to announce that we have officially placed a Lake Norman luxury waterfront estate under contract at a listed price of $15,900,000 — setting a new benchmark for the Lake Norman real estate market,” listing agent Tom Bramhall wrote in a social media post.

The home at 20221 Regatta Island Drive is a six-bedroom, nine-bathroom residence spanning more than 12,000 square feet on about 3 acres, according to listing data.

Built in 2024, the property sits on a private peninsula-style lot with extensive shoreline and luxury amenities, including a pool, dock and high-end finishes.

The property last sold as vacant land in 2021 for about $4.35 million before being developed into the current estate.

MLS records show the highest recorded home sale in Cornelius was an $11.5 million purchase of 16716 Belle Isle Drive in 2024. A home at 16700 Tinker Place sold in 2024 for $8.7 million.