So far, 2014 has been an odd year for our Lake Norman waterfront home sales. There have been no obvious trends or “hot” price ranges or locations. Overall waterfront home sales have represented only 29% of all Lake Norman home sales year-to-date.
Now that distressed homes (foreclosures and short sales) are, for all intents and purposes, gone and prices are on the rise, waterfront buyers this year seem to be taking longer to buy and seem to have higher expectations and are willing to hold out for their perfect home. There is also a good segment of waterfront buyers who are focused more than ever on tear-downs or lots. If you drive around the Brawley School Road peninsula in Mooresville you will see an impressive number of new construction homes on the water. There are 3 waterfront homes alone being built on my tiny street!
Yet despite the seemingly slower sales of existing waterfront homes 2014 has actually been a strong year so far if you compare our waterfront homes’ average sales price and sales price per square foot: Continue reading