Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2015 Sales Analysis

Wow, Lake Norman’s real estate market is rocking!  We ended up March with an impressive 49% increase in closed home sales compared to last year’s AND a 57% increase over last month’s sales.   Once again in 2015 we logged in the best month’s sales since 2007 which means our 1st quarter 2015 closed single family home sales were 25.6% higher than the first quarter of 2014 and the best first quarter in Lake Norman since 2007.  Lake Norman’s housing market got crazy busy (my technical term for it) right after the holidays and we are now seeing this translated into closed sales but what about new contracts? Let’s take a closer look:

Lake Norman Market Report March 2015

Lake Norman Real Estate's March 2015 Market Report

* All data is from the Carolina Multiple Listing Service. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2015 Hot Sheet is Sizzling!

Lake Norman real estate Hot Sheet report

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

With winter now in our rear view mirror, our Lake Norman real estate market is hopping like a happy Easter bunny!  You know it is a good market when I see not 1 but 3 updates on Facebook from local Realtors looking to hire assistants or team members in just this past week. We currently have 245 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 230, January’s 187, December’s 174, November’s  208, and October’s 262.  The strong activity I noted since the first of the year just keeps gaining momentum!  Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2015 Sales Analysis: Good News?

A 22% increase in sales compared to last year, a 24% increase over last month’s sales and the best February since 2007?  Even sleet, snow, and unusually cold weather didn’t slow down our hot real estate market.  As I noted last month, Lake Norman’s housing market got crazy busy (my technical term for it) right after the holidays and we are now seeing this translated into closed as well as new contracts. Let’s take a closer look:

Lake Norman Market Report February 2015

Lake Norman Home Sales Analuysis

* All data is from the Charlotte Regional Multiple Listing Service. Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2015 Hot Sheet Analysis

Lake Norman real estate Hot Sheet report

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

Despite the weather, February closed sales so far indicate that Lake Norman’s housing market is plugging along at a pace slightly better than last year’s. We currently have 230 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 187, December’s 174, November’s  208, and October’s 262.  While February is historically one of our lowest month for closed sales, activity is good.  Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2015 Sales Analysis:

Our January closed sales really don’t tell the whole story of our current and near future Lake Norman housing market. While we are likely to just match last year’s and slip below January 2013’s in closed sales, it is our new contracts and the amount of showings and activity I have been seeing since the holidays that support where I feel we are heading in early 2015.   Let’s take a closer look:

Lake Norman Market Report January 2015

Lake Norman Market Report January 2015

* All data is from the Charlotte Regional Multiple Listing Service.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2015 Hot Sheet Analysis is Here!

Lake Norman real estate Hot Sheet report

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

While our January closed sales so far are stable with last year’s, there is no doubt in my mind that Lake Norman home buyers have hit the ground running in 2015!   We currently have 187 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 174, November’s  208, and October’s 262.  While January historically is our lowest month for closed sales, our momentum has picked up rather quickly this year which bodes well for February and March. Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 4th Quarter 2014 Price Range Analysis is a Great Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Continue reading

Standard
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

Continue reading

Standard
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

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2014 Hot Sheet is Here!

Lake Norman real estate Hot Sheet report

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

Wow, it is hard to believe that 2014 is almost over!   While we had a significant slowdown of home sales last month compared to prior months in 2014, our December real estate market looks to be ending our year on a high note. We currently have 174 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 208, October’s 262 and September’s 282.  Yes, we have hit our typical seasonal slow down. Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2014 Sales Analysis: Seasonal Slowdown?

After a great ride, November applied the brakes on our Lake Norman real estate market. While we exceeded our closed sales for November 2013 we only had the third best November since 2005 after logging record sales monthly since June.  Let’s take a closer look:

Lake Norman Market Report November 2014

Lake Norman home sales analysis for November 2014

* All data is from the Charlotte Regional Multiple Listing Service. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2014 Hot Sheet: Where are we headed?

Lake Norman real estate Hot Sheet report

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

After an incredible string of months of very strong home sales in Lake Norman, November’s early numbers indicate we are finally experiencing the typical seasonal holiday slowdown. That said, we are still logging sales at a higher rate than prior Novembers. We currently have 208 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 262 and Septembers 282.  Here are our 2-week Hot Sheet numbers:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman’s October Home Sales 2nd Highest in 2014!

I must admit that our Lake Norman October closed home sales were so high that I keep re-doing the search in the MLS thinking there must be an error. Seriously, a 52% increase over October 2013, a 13.7% increase over last month AND the second highest month in all of 2014? I predicted October would be a great month because of the high number of homes under contract last month but even I didn’t expect them to be this high! Let’s take a closer look:

Lake Norman Market Report October 2014

Lake Norman Home Sales Chart for October 2014

* All data is from the Charlotte Regional Multiple Listing Service.

Some significant additional statistics for you: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2014 Hot Sheet: Signs of Fall?

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

While not quite as strong as last month, our Lake Norman housing market continues to break with our typical seasonal slowdown.  We currently have 262 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 282 and August’s 247.  After an impressive surge in September we have slowed a bit but we are still out significantly pacing prior October’s. Here are the 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 3rd Quarter 2014 Sales Analysis by Price Range

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2014 Home Sales Analysis: Impressive!

If there is any doubt in your mind that Lake Norman’s real estate market is in a sustained recovery our September 2014 home sales will put an explanation point on it. Not only were our September’s closed home sales  substantially higher than last September’s, but they topped even 2006’s and 2007’s! Add to this our very strong numbers of new contracts and pending sales and clearly our activity has not softened as it usually does in late summer early fall and is on pace with our past 4 months. Our Lake Norman housing market is now the most stable it has been since the recession. Let’s take a closer look:

Lake Norman Market Report September 2014

Lake Norman real estates market report

* All data is from the Charlotte Regional Multiple Listing Service.  Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2014 Hot Sheet

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 we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

Fall is here but someone forgot to tell our Lake Norman home buyers!  Instead of our typical seasonal slowdown, we are cranking along like it is June. We currently have 282 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 247.  At a time when our real estate market is usually slowing down we are actually seeing a new surge of activity! Here are the numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2014 Home Sales Analysis

Lake Norman’s real estate market remains robust after a lethargic winter and early spring. Following exceptionally strong closed home sales in June, we slowed a bit in July but are managing to keep up with 2013’s record breaking numbers.

Let’s take a look at the July 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman real estate home sales analysis for July 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program in March which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible.

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2014 Hot Sheet Home Sales are HOT!

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.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year. The past three months we have seen a dramatic uptick in activity but by this time last year we were already experiencing a slowdown.  So far this July, Lake Norman home sales are even higher than last month! We currently have 290 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 262. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter 2014 Home Sales by Price Range is a Must Have Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman real estate home sales by price range for second quarter 2014

*Compiled from the Charlotte Regional 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. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2014 Hot Sheet Home Sales Analysis

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.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year. The past two months we have seen a dramatic uptick in activity and thankfully that trend is continuing. We currently have 262 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 285.  Once again I don’t think this month we will match June of 2013’s 151 closed sales but take a look and see what you think:

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2014

Lake Norman real estate home sales activity June 2014

* 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. These numbers represent a real time snapshot of the past two week’s activity. (June 7th – 22nd). As always, I have included the past 5 months so that you can put these numbers in perspective.

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2014 Home Sales Analysis

While our Lake Norman home sales numbers for May did not match May 2013’s record setting sales, they were the second best May since the recession and 8.4% higher than last month’s.  Not bad!  After struggling since late fall, our real estate market has jumped back to life with surprising strength and velocity and it looks like this will continue into the early summer months at least.

Let’s take a look at the May 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman Home Sales Analysis for May 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program last month which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented only 5.5% of Lake Norman’s total home sales which was the lowest since the recession and down from last month’s 9.4, and significantly lower than January’s 29%. We only had 7 distressed home sales in May. The average price for distressed single family home sales was $284,332.  Distressed active listings comprise only 2.4% of our total inventory of Lake Norman homes sale. Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • 33.6% of our May home sales were waterfront homes which was up from 23% last month and back to where they normally are after a very slow winter and early spring. The average sales price of a Lake Norman waterfront home in May was $777,086.  Our average price per square foot, at $256.97, was up significantly from last month’s $216.34 and even our peak of $229 last summer.  Clearly we are seeing new life in our Lake Norman trade-up price ranges after a rather long slump!
  • 14 new construction homes closed in May through our MLS but this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS. (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes was 100%. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 33 new construction homes under contract in the MLS. The average sales price in May logged in at $424,839.
  • 43.5%  of Lake Norman’s May single family home sales were under $400,000.  This is a huge drop from the staggering 59.8% last month.  Clearly our higher priced homes are selling again!
  • 63.4% of the entire Lake Norman home sales in May were under $500,000 down from 69.4% last month. This means almost 20% of our sales in May were in the $400,000’s!
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 262 were down slightly from last month’s 274. At 262 Lake Norman has 10.5% FEWER homes under contract compared to last year’s 293 at this exact date,  while we aren’t quite matching last year’s hot numbers, we have improved immensely in the past two months. We have definitely stopped the bleeding but, like with the rest of the US,  it is still going to be really tough to match our strong 2013 sales.

A closer look at the chart:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2014 Hot Sheet Sales Update

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.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year.  Last month we saw a dramatic uptick in activity and thankfully that trend is continuing!  We currently have 285 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 264. After exceeding last year’s closed sales in April, are we on track to May 2013 record sales?

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2014

Lake Norman housing market activity for the past two weeks

* 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. These numbers represent a real time snapshot of the past two week’s activity. (May 7th – 21st). As always, I have included the past 5 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2014 Home Sales Report: UP!

For the first time in 2014, Lake Norman home sales were higher than the same month a year ago and the highest since 2007!  After struggling since late fall, our real estate market has jumped back to life with surprising strength and velocity.  Lake Norman single family home sales were 4% higher than last April’s and a whopping 37.6% higher than last month’s.  March seems to have been the “bottom” of our mini housing dip with 17% fewer closed sales than March 2013. But, the higher “under contact” numbers that showed up last month clearly converted to strong closed sales in April.

Let’s take a look at the April 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman Real Estate's Home Sales analysis April 2014

* All data is from the Charlotte Regional Multiple Listing Service.  Please note that the MLS started using an entirely new program this month which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible. 

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 9.4% of Lake Norman’s total home sales which were down slightly from last month’s 11.25,  lower than February’s 13.6% and significantly lower than last January’s 29%. We only had 11 distressed home sales in April. The average price for distressed single family home sales was only $197,173. Distressed active listings comprise only 2.9% of our total inventory of Lake Norman homes sale. Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 23% of our April closed sales were waterfront homes which was even down from 25% last month. The average sales price of a Lake Norman waterfront home in April was $855,894 which is down from last month and most of last summer as well. In April our closed  luxury housing sales inched up. Our average price per square foot, at $216.34, was down from last month’s $221.14 and is still well below our peak of $229 last summer. That said, overall Lake Norman’s waterfront home sales above $800,000 are improving.
  • Only 5 new construction homes closed in April through our MLS but this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS. (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes was 98%. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 44 new construction homes under contract in the MLS. The average sales price in April logged in at $308,967.
  • 59.8% of Lake Norman’s April  single family home sales were under $400,000.
  • 68.4 % of the entire Lake Norman home sales in April were under $500,000. Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 274 shot up for the second month in a row. ( Last month’s was 243 and February’s was 187). At 274 Lake Norman has 13.2% FEWER homes under contract compared to last year’s 316 at this exact date so we are not up to May 2013 but this is the highest number of homes under contract since last July! We have stopped the bleeding and are definitely on the mend but it is still going to be really tough to match our strong 2013 sales.

A closer look at the chart:  Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2014 Hot Sheet Home Sales are up!

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.

After an unusually cold winter, it seems life and home sales are definitely springing to life in Lake Norman. We currently have 264 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 211. While we are still behind last year’s closed sales numbers, we are now almost matching them with our new contracts!

Lake Norman Real Estate’s Two-Week Hot Sheet

4/21/2014

Lake Norman Home Sales snapshop for April 2014

* 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. (April 7th – 21st). As always, I have included the past 5 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2014 Home Sales by Price Range is a must have tool for buyers and sellers!

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman home sales by price range for the first quarter of 2014

*Compiled from the Charlotte Regional 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.

** Compare this to the 4th quarter 2013 price range analysis and the 1st quarter 2013 price range home sales.

How to read this report:

  • First choose a price range.
  • The next column provides the actual number of listings sold in this price range in the 1st quarter of 2014
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman area 13
  • Next is the number of active listings in this price range at this time
  • This is followed by the percentage this price range represents of the total number of active listings
  • Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales. (A balanced housing market is 6 – 8 months so you can use this to gauge your price range).

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2014 Home Sales Analysis; The Weather Factor?

After a tough fall and winter, Lake Norman’s real estate market seems to be coming to life simultaneously with the arrival of spring temperatures.   Perhaps we actually can blame our weak housing market on the weather and the tightened mortgage requirements like the national pundits are doing.  That said, we can’t blame it on a lack of inventory like parts of the US.  All I know is that it is such a relief to see a marked increase in real estate activity here in Lake Norman after such a bad spell!  March seems to be the “bottom” of our mini housing dip with 17% fewer closed sales than last March.  However new contracts are nearly up to last year’s for the first time in months.

Let’s take a look at the March 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman home sales analysis for March 2014

* All data is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 11.25% of Lake Norman’s total home sales which is up from last months 5.6 but lower than February’s 13.6% and significantly lower than last January’s 29%. We only had 9 distressed home sales in March. The average price for distressed single family home sales was $309,396. Distressed active listings comprise only 2.7% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 25% of our March closed sales were waterfront homes but this is up from 20% last month.  The average sales price of Lake Norman waterfront homes in March was $1,008,891; significantly higher than last month’s $805,203 and even topped last summer’s high of $990,693 in June due in part to a $4.85 million sale. In March our closed luxury housing sales remained weak but they have improved significantly in the past weeks. Our average price per square foot, at $221.14, is still below our peak of $229 last summer but is rising.  Lake Norman’s waterfront home sales above $700,000 are  also improving.
  • 13 new construction homes closed in March representing 16.25% of our total sales. I believe this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS.  (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes,99%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 51 new construction homes under contract in the MLS. The average sales price in March logged in at $451,415. With 132 new construction active listings Lake Norman actually has a 10.2 months supply of new homes listed in the MLS.
  • 53.75% of Lake Norman’s February home sales were under $400,000.
  • 67.5 % of the entire Lake Norman home sales in March were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 243 shot up from last month’s 187.  At 243 Lake Norman has 16.2% FEWER homes under contract compared to last year’s 290 at this exact date.  This is the highest number since last August. Considering this and the improvement from last month’s -26.6% it looks like we have stopped the bleeding and are on the mend.

A closer look at the chart:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2014 Hot Sheet Home Sales Insight and Trends

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.

After an unusally cold winter, it seems life and home sales are springing to life in Lake Norman. We currently have 211 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 186.  While we are well behind last year’s numbers, the trend is definitely positive!

Lake Norman Real Estate’s Two-Week Hot Sheet

3/21/2014

Lake Norman home sales for March 2014

* 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. (March 7th – 21st). As always, I have included the past 5 months so that you can put these numbers in perspective.

I created this additional chart comparing just the March Lake Norman Hot Sheets for the past 5 years to help put our March 2014 home sales numbers in perspective with past Marches’, not just the past 6 months. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2014 Sales Analysis Has Too Much Red!

Unfortunately, the Lake Norman real estate market’s relatively weak late fall 2013 and January 2014 sales appear not to have been a fluke. We can blame it on the weather and the tightened mortgage requirements like the national pundits are doing.  But we can’t blame it on a lack of inventory like parts of the US.  Last month I emphasized that Lake Norman real estate sales “almost matched last year’s“. I am not sure, with double digit declines in February, that this description is still valid. Our overall home sales slowdown in Lake Norman is baffling enough but the biggest question I have right now is where in the heck did our waterfront and higher-end buyers go?  And, is the impressive return of new construction a factor in our lower MLS numbers since many of these sales are not listed?

Let’s take a look at the February 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate sales analysis of single family homes February 2014

* All date is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented only 5.7% of Lake Norman’s total home sales which is down from from last month’s 13.6% and significantly lower than last January’s 29%. We only had 4 distressed home sales in February. The average price for distressed single family home sales was $359.875. Distressed active listings comprise only 2.7% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 20% of our closed sales were waterfront homes which is down from 30.3% last month and well below our norm. The average sales price of Lake Norman waterfront homes in February was $805,203 which was about equal to last month’s. Our highest recent waterfront sales were last July’s $874,988 and June’s $990,693. In February our closed luxury housing sales were negligible. Our average price per square foot was $227.23 which was actually up from last month’s $219 and almost matched our peak of $229 last summer.  Lake Norman’s waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 9 new construction homes closed in February but I believe this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS.  (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes, bounced back up to 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 39 new construction homes under contract in the MLS. The average sales price in February was up, logging in at $460,800. With 132 new construction active listings Lake Norman actually has a 14.7 months supply of new homes listed in the MLS.
  • 51.4% of Lake Norman’s February home sales were under $400,000.
  • 68.6 % of the entire Lake Norman home sales in February were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 187 is about equal to last month’s.  At 187, Lake Norman has 26.6% FEWER homes under contract compared to last year’s 255 at this exact date. This is the number that truly scares me for our short term market. I can’t see how we will get close to the 2013 sales numbers for at least the next few months.  Good properties are selling, but buyers seem willing to wait for their perfect home since there so few “bargains” enticing them to jump off the fence.

A closer look at the chart:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Hot Sheet Analysis February 2014 is a bit chilly!

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.

Well, there is nothing like 10″ of snow to dampen our Lake Norman housing market which has been struggling so hard to gain traction after a slow January!   We currently have 186 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is about equal to last month’s Hot Sheet.  Last February we had a whopping 249 single family homes under contract on the same date as today. Clearly, at a time when our market should be heating up we are still luke warm. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

2/20/2014

Lake Norman Real Estate's February 2014 Home Sales Hot Sheet

* 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. (February 6th – 20th). As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

Standard
Lake Norman Real Estate Market Reports

Does Lake Norman Real Estate’s Janaury 2014 Sales Analysis set the tone for 2014?

After a very disappointing November, but a respectable December, January is an important gauge of just where our Lake Norman real estate market is headed. Lake  Norman’s January housing market started out quite slowly but picked up enough to almost match last year’s sales.  Yes, I said “almost match last year’s“.  I think we are going to hear a lot of this throughout 2014. 2013 was a recording breaking year both for Lake Norman home sales which were up 19.7% versus 2012 but also for the nation as well.  Like the nation, however, Lake Norman experienced a marked slowdown in the 4th quarter.  Last January’s 72 sales were the best since 2007 as were all but two months in 2013.  Most economists feel that the national housing market will struggle to match the strong 2013 numbers in 2014 and our January Lake Norman numbers indicate that this may also be true here.

Here are the January 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate home sales analysis for Januray 2014

                                                                  * All date is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 13.6%  of Lake Norman’s total home sales which is up from last month’s low but down from 14.8% in November and significan’t lower than last January’s 29%. We only had 9 distressed home sales in January. The average price for distressed single family home sales was $326,555 compared to an earlier low of $252,526. Distressed active listings comprise only 1.9% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market!
  • 30.3% of our closed sales were waterfront homes which is down slightly from last month. The average sales price of Lake Norman waterfront homes in January was $809,625  which was the highest since July’s $874,988, June’s $990,693 and higher than May’s $778,045. In January we had an slight uptick in our luxury housing market. Our average price per square foot was $219 after peaking at $229 earlier this year.  Lake Norman’s waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 7 new construction homes closed in January down slightly from the last few months. The average listing price vs sales price of new construction single family homes, while strong at 99% was actually down from an impressive 103% last month. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 46 new construction homes under contract. The average sales price in December was down, logging in at $394,006 compared to 476,627 last month, 448,564 in November, $359,018 in October and$406,596 in September. It is important to note that many of the new construction homes you will see driving around Lake Norman are custom homes or will be sold directly from the builder to the home-buyer so will not be included in our Multiple Listing Service numbers.
  • 47% of Lake Norman’s October home sales were under $400,000.
  • 63.6 % of the entire Lake Norman home sales in January were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 185 was the first time in nine months that we saw an upswing in these numbers after April’s record high of 319 . At 185, we are well below last year’s 219 at this exact date. So, while we are definitely seeing an upswing in activity, it looks like we will really struggle to match last February’s sales.  Sound familiar?

A closer look at the chart:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2014 Hot Sheet Bodes Well!

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 4th quarter 2013 real estate sales definitely softened after some rather spectacular months but we still ended the year 18.5% higher than 2012. Today’s Hot Sheet numbers give us our first real glimpse into Lake Norman’s 2014 housing market’s health and it is looking good for the next few months after January. The numbers below actually indicate a significant uptick in the NEW Lake Norman home sales contracts opened in the past two weeks. So, while our closed sales for January may not be stellar, our market is definitely picking up rather quickly.  We currently have 184 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is up significantly from last month’s Hot Sheet number of  164 and identical to last January’s but still well below the 206 in November, October’s  211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

1/21/2014

Lake Norman real estate sales for the past two weeks of january 2014

Lake Norman Real Estate’s January 2014 Hot Sheet Sales Analysis

* 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. (January 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective.

Continue reading

Standard
Lake Norman Real Estate Market Reports

How Lake Norman Real Estate’s 4th Quarter 2013 home sales by price range helps both buyers and sellers!

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman real estate sales chart by price range for 4th quarter 2013

Lake Norman home sales by price range

*Compiled from the Charlotte Regional 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.

** Compare this to the 4th Quarter 2012 Lake Norman home sales by price range

How to read this report:

  • First choose a price range.
  • The next column provides the actual number of listings sold in this price range in the 4th quarter of 2013
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman area 13
  • Next is the number of active listings in this price range at this time
  • This is followed by the percentage this price range represents of the total number of active listings
  • Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales. (A balanced housing market is 6 – 8 months so you can use this to gauge your price range).

Some Findings: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2013 “Hot Sheet” is giving us mixed messages!

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.  After peaking in May, Lake Norman home sales have trended downward every month since landing with a thud in November. However, the numbers below actually indicate a significant uptick in closed Lake Norman home sales contracts in the past few weeks. The bad news is that we currently have only 164 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is down significantly from last month’s Hot Sheet number of 206, October’s  211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

12/21/2013

Lake Norman home sales activity for the past two weeks

Lake Norman home sales activity for the past two weeks

Lake Norman Real Estate’s December 2013 Hot Sheet Sales Analysis

* 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. (December 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2013 Hot Sheet, Is the Lake Norman housing market picking up?

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, there is no doubt in my mind that our number of monthly home sales peaked in May and have been trending downward every month since. However, the numbers below actually indicate a slight uptick in new Lake Norman home sales contracts in the past few weeks. We currently have 206 single family homes under contract in all of Lake Norman which is down slightly from last month’s Hot Sheet number of 211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. But, the number of new contracts has jumped back up after a drop last month. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

11/21/2013

Lake Norman Real Estate's November 2013 Hot Sheet

Lake Norman Real Estate’s November 2013 Hot Sheet Sales Analysis

* 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. (November 7th – 21th). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman real estate trends can be identified in the 2013 home sales in our Crescent Communities

The Point, Lake Norman waterfront  community

One of the best ways I have found to track Lake Norman’s real estate trends is to compare the largest of the Crescent Communities that are found on all sides and corners of Lake Norman.  Comparing home sales activity in The Point, The Harbour at The Point and The Farms in Mooresville, The Peninsula in Cornelius, Sailview in Denver, Northview Harbour in Sherrills Ford and Falls Cove in Troutman/Statesville provides valuable insight into these 5 Lake Norman towns and how each is recovering from the recession.

Lake Norman Real Estate's Crescent Communities Sales Analysis  November 2013

Lake Norman Real Estate’s Sales Analysis of the Crescent Communities

 * All home sales data is from the Charlotte Multiple Listing Service

I must admit I was surprised by many of the numbers above:

  • The Peninsula is actually out performing The Point both in number of total sales and, with a significantly lower number of active listings, it has a much more competitive number of months of supply at 5.7 compared to The Point’s 15 months.
  • That said, The Point and The Peninsula have almost identical numbers when it comes to the days a home is on the market, the percent of the listing price compared to the sales price and the average price per square foot.
  • It is no surprise that The Point and The Peninsula have the highest homes sales price per square foot of all 7 Crescent Communities given they have the most luxury, high-end estates and amenities and are located in the strongest real estate markets on Lake Norman
  • The months o f supply winner goes to The Farms which is not a surprise given the amount of new construction and the price ranges of $500.000-$600,000.  Note that the average home sold for 98% of the listing price as well!
  • I found it fascinating that Sailview, in Denver on the Northwest side of Lake Norman,  not only has a very low number of  of months of supply but the lowest days a home was on the market before it sold of all 7 Crescent Communities. The average price per square foot of real estate sales in Sailview was a modest $133 which supports my feelings that the west side of Lake Norman’s recovery has been later and slower than that of Mooresville and Cornelius on the east side.
  • The numbers above for Northview Harbour, in Sherrills Ford, and Falls Cove in Statesville/Troutman which are both north of Hwy 150 support the fact that these are the weakest real estate markets in all of Lake Norman.  However, it does look like Northview Harbour is gaining momentum. Continue reading
Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2013 Home Sales Analysis: More Interesting Trends!

Change continues 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 October, we actually appear to be struggling right now to be able to keep our sales up above last year’s for the rest of this fall/winter. At 97 single-family home sales in October we logged in the best October since 2006  but our gains of +5% compared to last October were the smallest monthly gains posted in 2013.

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 October 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's October 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.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 11.3% of Lake Norman’s total home sales which is down from 15% last month. Prior months were: 9.4% in August, 11.3% in July, 6.9% in June, 10.6% in May , the 14% in April, 20.4% in March, 16.9% in February and January’s 29%. We only had 11 distressed home sales in October. The average price for distressed single family home sales was  $337,972 compared to an earlier low of $252,526. Distressed active listings comprise only 3.1% 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.
  • 26.8 % of our closed sales were waterfront homes which is well below last month’s 34.6%. The average sales price of Lake Norman waterfront homes in October was $662,850 also well below not only September’s $738,972 but also August’s $709,753, July’s $874,988 June’s $990,693 and May’s $778,045. What is really interesting to note is that the average price per square foot actually increased slightly from $211.11 last month to $215.43 after peaking at $229. Our waterfront home sales have dropped significantly over the past months above $700,000 but the homes that are selling in the lower price ranges are getting relatively strong offers based upon their size.
  • 16 new construction homes sold in October which was twice the number last month. The average listing price vs sales price of new construction single family homes remains 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 46 new construction homes under contract. The average sales price in October was down, logging in at $359,018 compared to last month’s $406,596. 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.
  • 62.8% of Lake Norman’s October home sales were under $400,000 up from 55% last month.
  • A whopping 75.25 % of  the entire Lake Norman home sales in October were under $500,000 which is up from 66.3% last month and more in line with 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 now had several pretty weak months of sales in our trade-up and luxury housing markets.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 207 was the sixth month in a row of decline after April’s record high of 319 . At 207, we match last month’s so it appears we may have stopped the bleeding but there are still fewer homes under contract than any other month in 2013 except 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

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2013 Sales Analysis

Lake Norman homes sales in July were oh so close to matching July 2007’s but still were the best July since 2007 .  While our closed sales of 142 fell short of last month’s and our record setting high in May, we still logged in some very impressive numbers. At 142 single-family home sales we had the 3rd best month in the Lake Norman real estate market since July 2007 . Once the late comers input their sales into the MLS my guess is that we will have closed 145 contracts last month.

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 July 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's July 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: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2013 Hot Sheet

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.  It appears, however, that our number of monthly home sales may have peaked in May and are now trending down slightly each month.  The numbers below further substantiate this. We currently have 260 single family homes under contract in all of Lake Norman which is a drop from last month’s 301 and May’s high of 330 but is still the 5th highest number since I have been keeping these records. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

7/21/2013

Lake Norman Real Estate's July 2013 Hot Sheet

* 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. (July 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2013 Hot Sheet

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 with last month’s sales being the tenth highest sales month in Lake Norman’s history. But, can we sustain these very high sales numbers into summer?  From the numbers below, it looks like we will. We currently have 301 single family homes under contract in all of Lake Norman which is a drop from last month’s high of 330 but is still the second highest number since I have been keeping these records. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

6/21/2013

Lake Norman Real Estate's June 2013 Hot Sheet

* 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. (June 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Which months are Lake Norman real estate’s strongest?

Lake Norman real estate photo of 130 lochfoot grape trellis view

One of the most common questions asked  by both home buyers and sellers is which months of the year are the strongest in our Lake Norman’s housing market?  When I read a recent article about a study by Trulia that placed North Carolina and South Carolina’s strongest months for home searches in July, I was a bit surprised so decided to see for myself if this is also true for Lake Norman.

Here is my chart with Lake Norman home sales by month since 2005.  Taking a closer look it is clear that our Lake Norman real estate market isn’t consistently the strongest in the same month every year.  Over all, Lake Norman’s real estate market picks up after the first of the year and generally slows down at the end of the year but beyond this generalization, there are some interesting inconsistencies:

Lake Norman Real Estate's Annual Sales Chart by Month May 2013

2005:

  • August was the best month followed by July, June, September and October

2006:

  • June was the best month followed by May, August, July and March

2007:

  • June was the best month followed by May, July, March and August

2008:

  • July was the best month followed by May, April, June and September

2009:

  • July was the best month followed by June, September, October and December

201o:

  • June was the best month followed by May, April, December and November/July (This was the year of the rebates hence the April/June numbers)

2011:

  • August was the best month followed by June, October, July and April

2012:

  • August was the best month followed by May, June, July and November

2013:

  • So far this year every month since January Lake Norman has had more home sales than the prior month

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2013 Sales Analysis

The dynamics of our Lake Norman real estate market are definitely changing.  What started as an upward trend in sales and a downward trend in inventory of homes for sale in 2012 has given way to a true break through in so many aspects of our housing market.  There is a new sense of energy and hustle reminiscent of the good old days. For some Realtors the days of 24/7 have also returned.  I was so excited to get Easter off!

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 March 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's March 2013 Sales Analysis

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

Some significant additional statistics for you: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2013 Sales Analysis Predicts a HOT Spring!

Okay, so my concerns about our Lake Norman real estate market last month have proved to be unfounded; SERIOUSLY unfounded.  Not only did our Lake Norman’s strong February home sales increase our streak to 14 months in a row in which we exceeded sales from the same month in the prior year and all years since 2008, but our number of residential homes under contract today stand at a truly remarkable 255.  This means that more homes are under contract today than at any time in at least the past 3 years which is when I started recording these numbers!

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 February 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's February 2013 Sales Analysis

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

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2013 Sales Analysis: A Great Start to 2013 But With Some Caveats!

Lake Norman’s strong January home sales increased our streak to 13 months in a row where we exceeded sales from the same month in the prior year and all years since 2008. Our Lake Norman real estate market is very active for what are traditionally our slowest months of the year.  However, there  is a caution in these numbers because nearly three-fourths of our sales last month were under $400,000.  Our Lake Norman housing market has some strengths which make us look good over all but there are some very weak price ranges as well.

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 January 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate's January 2013 Sales Analysis

 

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

Some significant additional statistics for you: Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman’s 2012 Home Sales Annual Review

After a rather erratic 2011, our Lake Norman real estate market definitely has a lot to celebrate about 2012.  Not only was the volume of sales up 23% but our average price and average price per square foot both inched up for the first time since 2007.  But, my favorite word for 2012 is consistency.  Not only were sales strong, but they were strong every month in 2012 without one hiccup.

What about 2013?  My greatest concern is our lack of inventory of homes for sale.  My second highest concern is that sellers AND Realtors will over estimate our recovery and have unrealistic expectations for 2013. I am already experiencing sellers who are inflexible about their listing price due to their optimism.  No matter how much our Lake Norman real estate market has improved, overpriced listings could play a significant role in limiting our sales as will our lack of inventory.  While I don’t expect prices to go down, I also don’t expect them to go up more than about 5% at best.

Below are three charts that pretty much tell the story about our Lake Norman housing market:  Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 4th Quarter 2012 Home Sales by Price Range

If you are a home buyer or seller in the Lake Norman 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 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 $400,000 price range, you are going to have an entirely different experience than someone in the $700,000?s.  This is exactly the reason why I create a price-range analysis every quarter:

Lake Norman real estate 4th Quarter 2012 Sales Analysis by price range

*Compiled from the Charlotte Regional 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. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2012 Sales Analysis; Did We Make it 10?

Lake Norman’s October 2012 residential real estate sales number should makes it ten months in a row that we have exceeded all prior months’ sales since 2007.  However, as of today, we are tied with last year’s 88 total sales. As always a few more agents will be late in recording their sales. When all the numbers are for October we should have recorded at least 90 or more. So, yes, we will make it 10 but it will be a squeaker!  However, because October 2011’s sales were unusually high beating that number still supports my belief that we hit bottom in 2011 here in the Lake Norman housing market and have had fairly robust sales consistently in 2012.  Yes, we are clearly seeing our typical seasonal slowdown but the fact that October sales will most likely equal September’s, at this point it still looks like our Lake Norman real estate market has moved into sustained positive territory.

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 October 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2012 Sales Analysis Makes it 8!!!

Lake Norman’s August 2012 residential real estate sales number makes it 8 months in a row that we have exceeded all prior months’ sales since 2007.  All 8 months of 2012 have been strong however our August sales were up against unusually strong August sales in 2011 yet we still exceeded last August’s robust numbers.  Triple digit sales for four months in a row is certainly good news.  Gone, for now at least, is the term “erratic” which I have been using regularly for several years when describing our Lake Norman real estate market.  While we are beginning to see a typical seasonal slowdown, at this point it looks like our Lake Norman real estate market is over the hump and moving into sustained positive territory. As always a few more agents will be late in recording their sales so when all the numbers are for August we should have recorded at least 113.

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. Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2012 Hot Sheet

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.

The last three months pretty much blew our sales trends right out of the water.  As of today the MLS has a total of 120 closed sales for May, 117 sales for June and 114 for July which are the three highest months’ sales since August of 2007!  It appears from our numbers below that August will also be a very strong month of housing sales for Lake Norman but there are some signs of a slowdown for Sept/Oct.  Will we match last month’s highs?  Let’s take a look: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2012 Sales Analysis; Another strong month!

Lake Norman’s July 2012 residential real estate numbers once again exceeded all prior July’s since 2007 and my own predictions as well.  All 7 months of 2012 have been strong but the past 3 months have been exceptional when compared to the past 4 years.  Triple digit sales for three months with signs that August will make it 4 is good news.  Gone, for now at least, is the term “erratic” which I have been using regularly for several years when describing our Lake Norman real estate market.  While I expect a seasonal slowdown, at this point it looks like our Lake Norman real estate market is over the hump and moving into sustained positive territory. As always a few more agents will be late in recording their sales so when all the numbers are for July we should have recorded at least 115.

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 July 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market: Continue reading

Standard