So here is the good news: Lake Norman squeaked by last September’s total home sales by 2% making it the 9th month in a row where we beat 2014 closed sales. The bad news? October is really going to be ugly. Unfortunately, last October we had a particularly strong month and there is just no way we are going to be able to match those numbers this month given our low number of pending and newly under contract sales. Our inventory of active listings is insanely low (11% below last year’s) which will also serve as another challenge to the rest of 2015 sales. If there is a silver lining it is that after October our sales in 2014 dropped significantly so there is a chance we can pull out ahead of last year again in November and December. And, our year-to-date 2015 closed single family home sales are 14% higher than 2014’s. For the first time since the recession, Lake Norman’s housing market has been consistently strong every month in 2015. Unfortunately, it has been trending downward in the last few months and is now looking rather feeble. Let’s take a closer look:
* All data is from the Carolina Multiple Listing Service.
Some significant additional statistics for you: