Charlotte home prices are skyrocketing. But not for Fantasia.

May 16–Former “American Idol” star Fantasia Barrino has sold her home on a south Charlotte golf course for $275,000 less than she paid for it, Mecklenburg County property records show.

Barrino sold her 4,541-square-foot-home in Piper Glen for $465,000.

The 33-year-old R&B singer, songwriter and actress paid $740,000 for the home in 2004, property records show. That was the same year Barrino won Season 3 of “American Idol.”

The home on Seton House Lane has an appraised value of $662,600, according to county records. Piper Glen includes an Arnold Palmer-designed TPC golf course.

The Los Angeles Times first reported the sale of the home on Monday. The transaction occurred on March 28, Mecklenburg County property records show

“You don’t get this much house for this price in Los Angeles, but North Carolina is another story,” the Times reported.

Yet the sale price seemed surprisingly low given Charlotte’s strong housing market.

Prices “are spiraling up fast,” and the number of homes on the market continues to plunge, the Observer reported on May 9.

The median home sale price in the Charlotte region in April rose 7.4 percent from the same month a year ago, to $240,000, according to the Carolinas Multiple Listing Services, the Observer reported.

The average sales price, a measure that puts more emphasis on high-priced home sales, rose 8.1 percent, to $292,158, the Observer reported.

Realtor Lisa Rupp of Cottingham Chalk Hayes in south Charlotte handled the sale for Barrino.

Rupp declined on Tuesday to say why Barrino sold the home for less than she paid. Rupp said Barrino would have to answer. She added that she would contact Barrino in case the singer would like to comment on the sale.

This article provided by NewsEdge.