Lake Norman Real Estates's January calendar is sunset on boatsDownload this month’s Lake Norman calendar here

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Lake Norman Real Estate’s January 2016 Calendar is Here!

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Lake Norman Real Estate Market Reports

Lake Norman’s 2014 Year-End Home Sales Were Up 7.9%!

2014 turned out to be a very positive year for our Lake Norman real estate market.  A 7.9% increase in the number of single family home sales over 2013 is a stronger showing than the national home sales. But what is really impressive is the fact that we actually exceeded all prior years back to and including 2007!

Here are some interesting charts that break down the data for you:

Single Family Home Sales by Year 2005 – 2014

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2014 Sales Analysis: A Bang or a Whimper?

A bang.  A BIG bang. After a significant slowdown in November, our Lake Norman real estate market ended 2014 with an explanation point by posting a 20% increase in sales over December 2013 and 25% higher than last month’s. With 120 closed sales, December 2014 didn’t just cream last year’s but all prior Decembers’ since 2006 and might even meet that month’s sales once our few stragglers are posted to our MLS in the next few days. Unfortunately, this trend probably won’t continue into January 2015.  Let’s take a closer look:

Lake Norman Market Report December 2014

Lake Norman home sales December 2014

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Lake Norman Real Estate's Desktop Calendar  January 2015

Download this month’s Lake Norman calendar here

One quick look and you might think this amazing mountain is in the Blue Ridge Mountains but it isn’t. Pilot Mountain, which is considered one of the most distinctive natural features in North Carolina, is actually part of an ancient chain of Sauratown Mountains and is located northeast of Lake Norman in our beautiful Yadkin Valley known for its over 50 wineries including two in the town of Pilot Mountain population 1477!   Pilot Mountain is part of the Pilot Mountain State Park where visitors can take a paved road to the visitor center and campgrounds or go further up to a parking lot on the ridge.  Trails from there take you to the main Little Pinnacle Overlook and other viewing spots. Continue reading

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Lake Norman Real Estate’s January 2015 Calendar is Here!

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Lake Norman News, Events and Celebrations

Lake Norman Halloween Happenings 2013

* For 2015 Halloween Events go to: Lake Norman Halloween Happenings and Events 2015; BOO!

Lake Norman is a great place to celebrate Halloween. From haunted houses to old-fashioned Main Street celebrations to costume parties and live entertainment at local night clubs there truly is something for everyone!

Every year at this time the Lake Norman area comes alive with pumpkin patches, Corn Mazes, Halloween festivities for all ages and homes decorated to welcome all of our young trick -or -treaters. Many of our subdivisions have their own neighborhood events but here are some more options:

If you are in search of a pumpkin patch:

  • Carrigan Farms: Hayrides to the pumpkin patch 9-4 Saturday and 12-4 Sundays through Halloween. Pick a pumpkin, visit the animals and have some fresh apple cider.
  • Patterson Farm: Pumpkin patch is open with tours through Nov. 6th and on weekends don’t miss Paw Paw Carl’s Playground where you can enjoy hayrides, a corn pit, Tomato Slingshot, Duck Races and more! See their website link above for more details.
  • Davidson United Methodist Church’s Pumpkin Patch offers pumpkins for sale through Halloween on the lawn of the  Molly McKay House, 260 S. Main Street, Davidson

Or, just look to any of our many local produce stands like Josh’s Produce Market on Williamson Road in Mooresville who are brimming over with pumpkins and decorations for your Lake Norman home!

Of course, it would not be Halloween without some fun, and even spooky events for all ages and Lake Norman is full of options!

  • This year, Carrigan Farms’ Scarrigan Farms is supposed to be so scary that moms enjoying smores on the other side of the quarry can hear their kids screaming as they walk throw the haunted trail. As they say on their website: This is not a trail for kids. If you’re under 12 come back when you’re old enough. We’ll be waiting. If someone hasn’t peed in their pants by the end of the night we know haven’t done our job. Come gather around the bonfires, at the well-known Carrigan Farms Rock Quarry, before or after you enter the haunted trail. Visit Scrarrigan Farms on Facebook.  It began October 5th and continues Friday to Sunday nights through November 2nd and includes Thursday, October 31st of course!  (Today their website was down but hopefully it will be up shortly.)

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2013 Sales Analysis has some Mixed Signals!

Change seems to be in the air in our Lake Norman real estate market. Lake Norman’s closed home sales have maintained historically strong numbers (post the recession) each month in 2013 but they are continuing their softening trend since our record setting high in May. While we still logged in some solid closed home sales numbers in September, we actually appear to be struggling right now to keep our sales up for the rest of this fall/winter above  last year’s.   At 104 single-family home sales in September we logged in the best September since 2007 and we may even equal 2007 once the late comers input their sales into the MLS but will we sustain this trend?

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the September 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's September 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories. Contingent Sales are now joined with Conditional sales in my reports.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 15.4% of Lake Norman’s total home sales which is up from 9.4 last month,  11.3%  in July, 6.9% in June, 10.6% in May , the 14% in April but down from 20.4% in March, 16.9% in February and January’s 29%. We only had 16 distressed home sales in September. The average price for distressed single family home sales jumped back up to $348,168 from last month’s low of $252,526. Distressed active listings comprise only 3.2% of our total inventory of Lake Norman homes  sale! According to a recent article on Realtor.org in the US  foreclosures and short sales represented 12% of August sales.
  • 34.6 % of our closed sales were waterfront homes which is equal to the last few months. The average sales price of Lake Norman waterfront homes in September was $738,972 which is up slightly from last month;s $709,753 but well below July’s $874,988 June’s $990,693 and May’s $778,045. The average price per square foot was $211.11 dropping for the second month in a row after peaking at $229. This can be directly attributed to having only 6 waterfront home sales over $1 million for the second month in a row compared to 13 sales of waterfront homes over $1 million in both June and July.
  • 8 new construction homes sold in September which was 3 less than last month’s. The average listing price vs sales price of new construction single family homes was 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 50 new construction homes under contract. The average sales price was up to $406,596 compared to last month’s  $373,183. It is important to note that many of the new construction homes you will see driving around the lake are custom homes so will not be included in our Multiple Listing Service numbers.
  • 55% of Lake Norman’s September home sales were under $400,000 up from 50% last month.
  • 66.3% of our August home sales were under $500,000 which is about equal to last month but significantly lower than last winter’s in February’s 81.7%, 81% in January, 74 % in December, 75% in November. After seeing an upswing in both the trade-up price ranges and our Lake Norman luxury homes earlier in the summer, we have seen several months of weaker sales in our trade-up and luxury housing markets.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 118 was the fifth month in a row of decline after April’s record high of 319 . At 207, we have fewer homes under contract than any other month in 2013 but January.  It is not only clear that our Lake Norman housing market has definitely slowed down but now we appear to be struggling to keep pace with 2012.

A closer look at the chart: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2013 Hot Sheet is Here!

Lake Norman Hot Sheet Home Sales

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st. That said, it appears more likely at each passing month that our number of monthly home sales peaked in May and are now trending downward slightly each month. The numbers below further substantiate this although there is a slight uptick in new contracts. We currently have 217 single family homes under contract in all of Lake Norman which is a pretty significant drop from last month’s Hot Sheet number of 253, July’s 260, June’s 301 and May’s high of 330 but they are just about equal to our end of August number of 218.  Are our sales leveling out rather than trending downward? Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

9/20/2013

Lake Norman Real Estate's September 2013 Hot Sheet Chart

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman (area 13). These numbers represent a real time snapshot of the past two week’s activity. (September 6th – 20th). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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