lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2017 Market Report

December numbers are out and with them we now have a complete picture of 2017! Below are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • We had an extraordinary, record-breaking month compared to all prior years, logging in 165 closed sales of single family homes in December. (See green and yellow chart below).
  • At 2006 closed sales in 2017 we ended up 17.24% above 2016’s total sales and logged in the highest annual volume of home sales in Lake Norman’s history, even exceeding 2005’s previous record high by 7.6%.
  • The average home price in Lake Norman was. 1/2 of 1% higher than 2016 and the median price was up 1.2%.  These are extremely modest gains.
  • Our trade-up price ranges dropped again after a good month.  The only thing consistent about this niche is their constant roller coaster ride of ups and downs.
  • Waterfront homes slipped back into a buyer’s market after two pretty strong months over the summer. Waterfront home prices have NOT recovered completely from their pre-recession highs.

While there is no guarantee that our high sales numbers will continue long term, 2017 was a remarkable year for our Lake Norman real estate market. That said, our prices have not risen at the same rate as Charlotte’s and the US and we still need to see improved consistency in our waterfront, trade-up and luxury niches for us to completely regain our pre-recession levels.

Let’s take a closer look:

Lake Norman Home Sales Market Report Dec 2017

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2017 Market Report

November numbers are out! Below are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • We had another record-breaking month compared to prior years, logging in 140 closed sales of single family homes in November. (See green and yellow chart below).
  • Compared to our peak in June, there is no doubt that our overall Lake Norman housing market has experienced the typical seasonal slowdown since September.
  • At 1837 closed sales, our first 11 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 6%.
  • Our trade-up price ranges from $600,000-$999,999 bounced back after an abysmal October but other price ranges dipped. So much for stability!
  • Waterfront homes remain on the cusp of a balanced/buyer’s market after two pretty strong months over the summer. Ups and downs and more ups and downs.

In a nutshell, these numbers mean that our overall strong sales in 2017 have been impressively consistent in beating prior year’s numbers month after month.  While there is no guarantee that this will continue long term, 2017 has really been a remarkable year for our Lake Norman real estate market which posted its single best year for home sales in Lake Norman’s history. That said, we still need to see consistent strength in our waterfront, trade-up and luxury niches for us to completely regain our prerecession levels.

Let’s take a closer look:

Lake Norman Real Estate Home Sales Report

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2017 Market Report

October numbers are out! Here are what I feel are the biggest takeaways from last month’s Lake Norman real estate sales numbers:

  • We had another strong albeit not record-breaking month, logging in 167 closed sales of single family homes. (See green and yellow chart below).
  • While our numbers are good compared to the same month last year, there is no doubt that our overall housing market has slowed considerably with lower sales than the past 5 months.
  • At 1695 closed sales, our first 10 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 6.2%.
  • What a freaky month when we look at price ranges.  A whopping 79% of our sales were under $600,000.  Then, seemingly out of nowhere, we had 7 sales OVER $2 million!
  • Our trade-up price ranges from $600,000-$999,999 simply disappeared after last month’s strong showing. So much for stability.
  • Waterfront homes fell back into a buyer’s market after two pretty strong months. Ups and downs and more ups and downs.

In a nutshell, these numbers mean that our overall strong sales in 2017 have been impressively consistent in beating prior year’s numbers month after month.  While there is no guarantee that this will continue long term, 2017 has really been a remarkable year for our Lake Norman real estate market. 2017 will be the single best year for home sales in Lake Norman’s history. That said, we still need to see consistent strength in our waterfront, trade-up and luxury niches for them to regain their pre-recession levels.

Let’s take a closer look:

Lake Norman real estate sales analysis October 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2017 Market Report

September numbers are out! Here are what I feel are the biggest takeaways from last month’s Lake Norman real estate sales numbers:

  • We had another awesome month, logging in an all time September record of 194 closed sales of single family homes! (See green and yellow chart below).
  • At 1525 closed sales, our first 9 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 7%.
  • My excitement about our luxury market last month has been tempered slightly as we currently has 29 properties over $1 million under contract down from 42 last month.
  • For the second straight month waterfront homes are in a sellers’ market but there are some worrisome signs that this momentum might not be sustained so it will be important to watch this trend going forward.
  • Our trade-up price ranges from $600,000-$999,999 represented almost 1/4 of our sales and our current properties under contract again showing signs of stability after many years of struggling to recover.

In a nutshell, these numbers mean that our overall strong sales are no longer erratic but instead impressively consistent in beating prior year’s numbers month after month.  While there is no guarantee that this will continue long term, they are still tremendous accomplishments for our Lake Norman real estate market.  It looks like 2017 will be the single best year for home sales in Lake Norman’s history. But I am not going to celebrate just yet as I want to watch the waterfront and luxury niches carefully to see if they can finally regain their pre-recession levels.

Let’s take a closer look:

Lake Norman Housing Report September 2017

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2017 Market Report

I usually introduce these market reports with basic numbers about the month.  But today, instead, I want to share with you what I feel are the biggest takeaways:

  • Lake Norman currently has 42 properties over $1 million under contract.
  • Waterfront homes are, for the first time since the recession, in a sellers’ market.
  • Our trade-up price ranges from $600,000-$999,999 represented almost 1/4 of our sales.
  • Finally, at 1329 closed sales, our first 8 months were the highest first 8 months in Lake Norman’s history, exceeding 2005’s by 6.6%.

In a nutshell, these mean that our waterfront, trade-up and luxury markets may finally be recovering after lagging for years, AND our overall strong sales are no longer erratic but instead impressively consistent in beating prior year’s numbers month after month.  While there is no guarantee that these will continue long term, they are still tremendous accomplishments for our Lake Norman real estate market.

Let’s take a closer look:

Lake Norman Market Report August 2017

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2017 Market Report

After June’s highest monthly home sales in Lake Norman’s history, we closed a respectable 180 single family homes in July but it was only the second best July since 2005. No new records set. :-). That said, our July sales were 15% higher than last July’s! 6 out of the first 7 months of this year our sales exceeded 2016’s.  We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%.  Over all, home sales in the first 7 months of 2017 were 19.7% higher than 2016’s.  AND, at 1119 closed sales, our first 7 months were the highest first 7 months in Lake Norman’s history!  Let’s take a closer look:

Lake Norman Real Estate Sales Spread Sheet July 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2017 Market Report: Historic Record!

Holy Cow! Lake Norman’s June closed home sales of 225 makes it the highest month in Lake Norman’s history, surpassing the previous high of 216 set back in August 2005! 5 out of the first 6 months of this year our sales exceeded 2016’s.  We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%.  Over all, the first half of 2017 was 19.6% higher than the first half of 2016.  AND, at 932 closed sales, our first 6 months were the highest first 6 months in Lake Norman’s history!  Let’s take a closer look:

Lake Norman Market Report June 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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