Lake Norman Real Estate: Friday Hot Sheet

Announcing a new feature for this Lake Norman Real Estate Blog:  The Friday Hot Sheet!

Despite all of our technology, one part of our real estate practice has consistently been an important part of our routine…pulling the daily, or in this case, bi-monthly Hot Sheet which gives us a snapshot update for all residential real estate activity in Lake Norman for the past two weeks.

Above is a chart with today’s numbers and then, for comparison, numbers I pulled throughout the spring.  Here are some highlights:

• The past two weeks almost mirror the first two weeks in June.

• New listings are trending down which we would expect at this time of year.  Considering our large inventory, this is a good thing!

• There are more listings coming back-on-the-market than earlier this year which usually indicates they have fallen out of contract.  This could be due to a number of factors like problems with loans, appraisals, inspections or buyers remorse…this is an indication of the uncertainty of our market!

• The number of price changes has risen substantially since early spring indicating that price-reductions are increasing as sellers realize they are over-priced.

• Pending sales are at their highest which shows a recent upswing in sales about to close.

• Solds (contracts that closed in the past two weeks) were down slightly but have remained about the same since April.

• Contingent and Conditional Sales are almost identical showing no obvious trends or changes.

Next week I will do my second quarter sales analysis by price-range which will go in to a lot more detail about our sales trends.

Have a great weekend!