Lake Norman Real Estate Market Reports

Lake Norman’s 2nd Quarter 2017 Price Range Market Report

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 2nd Quarter 2017 Home Sales By Price Range

Lake Norman Real Estate's Marktet Report by price range 2nd Quarter 2017

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  

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lake norman real estate

Lake Norman Real Estate adds new “Absorption Rate” tool!

Lake Norman real estate, months of supply

Now YOU can calculate the “months’ of supply” data for just about every neighborhood in the Lake Norman area right here, 24/7!

If you look  on the homepage under Lake Norman Real Estate Tools , you will see a new button: Calculate Months of Supply.  When you click on this link you will find a blank box where you can type in any neighborhood or subdivision found in our Charlotte  Regional Multiple Listing Service.  Once you start typing it will auto-prompt some options for you.  When you are finished, simply click on “Show me Stats” and up will pop a chart with the number of sales, the number of active listings and the months of supply.  VERY COOL!

If you are a regular reader, you will know that I calculate the “months of supply” or what is officially called the “absorption rate” of our Lake Norman housing market every time I do any kind of market analysis. This is because it is one of the best barometers of any real estate market, locally or nationally.

 Simply put, the Absorption Rate is a basic mathematical formula used to determine how many months it will take to sell the current number of active listings based upon the present rate of sales.

Economists say that a balanced housing market should have 6-8 months of supply of active listings. An absorption rate higher than 8 months would indicate a buyers’ market.  An absorption rate lower than 6 months would indicate a sellers’ market. 

How to manually calculate the absorption rate:

Take the number of homes currently on the market and divide by the most recent 30-day number of sales.

Example:

Our number of currently active listings in Lake Norman is 1150.  We sold 65 homes this month so:

1150 divided by 65 = 17.7 months of supply

Clearly in this example we are in a very strong buyers’ market.

If you have any questions please feel free to email me:  diane@dianeaurit.com.

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