Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2017 Market Report: WOW!

My May numbers, both closed sales and new contracts, indicate that our Lake Norman real estate market is still very much in a consistent streak of very strong activity.  197 closed sales is the best month this year and the 5th highest monthly sales in all of Lake Norman since 2005!  As you can see below, our  2017 May sales were 31% higher than last May’s. And, our combined total of under contract properties is 7.6% higher than last year’s. Let’s take a closer look:

Lake Norman real estate market report May 2017

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estates February 2017 Market Report: Yikes!

Wow, Lake Norman’s February home sales were stunning, but not in a good way: they were DOWN a whopping 34% compared to last February and the worst February since 2012,  The only thing that I can say is that if you have been reading my market reports you know this drop was anticipated but I honestly didn’t think our closed sales would come in quite so low. Not to fret, however, this is not the whole story. What’s next? Let’s take a closer look:

Lake Norman real estate's February 2017 Market Report

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2016 Market Report

Wow, a 33% increase in Lake Norman’s home sales in November, now that is impressive! In 5 of the past 6 months we have beaten the same months in 2015 and 4 of the 5 by double digits. Not only were November’s sales 33% higher than last November but they also were the highest November sales since 2005. The cherry on top is the number of new contracts where are also significantly higher than last year indicating that this momentum is going to continue throughout the next several months at least. Mercurial has been emphatically replaced by momentum as my favorite adjective to describe our current Lake Norman real estate market.  Let’s take a closer look:

Lake Norman real estate Market Report November 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2016 Market Report is Here!

Wow, I think Lake Norman’s real estate market is officially on a roll after a rather up and down first half of 2016.  Now 3 of the past 4 months have been record breaking and based upon our new contracts it looks like this momentum is going to continue throughout the next several months at least! Following an impressive 18% increase last month (compared to August 2015) we have already logged in 171 sales for September for a 13% increase over September 2015.  This is the highest number of single family home sales in the month of September since 2005 and when stragglers come in we may even beat that number! Mercurial has been replaced by momentum as my favorite adjective to describe our current Lake Norman real estate market.  Let’s take a closer look:

Lake Norman Real Estate Market Report September 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

What Trends Do We See in Lake Norman’s Waterfront, Distressed and New Construction Home Sales?

There are some positive and interesting Big Picture trends going on in our Lake Norman real estate market.  To help provide some insight I made these graphs comparing waterfront, distressed and new construction closed sales in 2014 to 2013:

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

Lake Norman real estate: New Construction is back!

New Lake Norman Waterfront Home

New Lake Norman Waterfront Estate

One of the most significant signs that our Lake Norman real estate market is improving is the amount of new construction popping up all around the lake.  From large builders taking over partially completed subdivisions that went under during the recession to smaller builders building spec homes and custom homes in every price range including an impressive number of luxury homes down Brawley School Road, all types of construction is happening for the first time in years!

The listing agent of a lot I just put under contract in The Point told me she had sold or had offers for 4 of her lots in the past several weeks after years of none what-so-ever.  A number of my waterfront buyers have purchased tear-downs or are considering tear-downs with plans to build their dream homes.  Off water buyers are scooping up good, affordable lots like the one I sold in The Point this past week realizing this may be the best opportunity they have before prices start going up.

The idea of having a custom home designed specifically for them on a hand-picked lot with their ideal size, floorplan, finishes and architectural details is pretty darned exciting!  For many, this is also a great time hire a builder who can incorporate all of the latest “green” and “smart home” technology which wasn’t really happening  in our Lake Norman area 5 years ago.

Here are some interesting numbers that reflect this trend:

  • We have 53 “new construction” homes under contract and 8 closed sales of new construction homes in Lake Norman’s Area 13 in 2013 for a total of 61 in 7 weeks.  Lake Norman had 90 closed sales of new construction homes in all of 2012 and 79 in 2011!
  • Lake Norman currently has 57 lots under contract and 16 closed lot sales equaling 73 sales in the first 7 weeks of 2013 compared to 239 lot sales in all of Lake Norman in 2012.

Of course, these numbers don’t reflect lots that are sold outside of our Charlotte Multiple Listing service.  Many builders, especially in large subdivisions, do not list a majority of lots and home sales in our MLS so these numbers are lower than the actual sales of lots and new homes being built on privately owned lots.

RELATED ARTICLES

 Lake Norman’s Langtree at the Lake is finally a reality!

Lake Norman’s The Point:  The Trump Factor

Lake Norman’s Brawley School Road Widening: One Year Later

Standard