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:

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Lake Norman waterfront homes, Relocating? Life in Lake Norman

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman waterfront home at The Point

The ultimate dream of many people around the country and even beyond is to own a waterfront home on Lake Norman.  Whether a luxury estate or a small vacation cabin, waterfront homeowners all share our gorgeous lake and the special lifestyles that blend together to make Lake Norman so popular for such a wide variety of people.

Buying a waterfront home on Lake Norman isn’t a complicated process but it is extremely important that you start the process with a good understanding of the following and, if possible, at least read Duke Energy’s Shoreline Management Guidelines, the 130-page document I have linked at the bottom of this article.

Here are my thoughts:

1.  Private docks: is there one?

Private docks are highly regulated and must be permitted by Duke Energy.  Over the years the process has become much more restrictive so you will find that most homes that can have docks will have them in place and even most waterfront lots will already have permitted docks.  Without a private, permitted dock, the value of a waterfront property is significantly lower than the same property with a dock. That said, it you want to enjoy living on Lake Norman but your budget doesn’t allow for a waterfront home with a dock, look for the lower priced homes on the water without docks.  Most likely you can launch a kayak or canoe from your shoreline and still enjoy being on the lake!  To get a permit today, a waterfront lot must have a minimum 100′ of shoreline and meet other stipulations to gain approval from Duke Energy.  If you must get a permit, do so BEFORE closing!

2.  Look for Permit Plate:

If you are looking at waterfront homes with a dock, you should check to make sure there is a permit affixed to the end of the dock like this one:

Photo of an older dock permit fixed on a Lake Norman dock

3.  Measure depth of water and understand possible variations of lake levels

I always bring my tape measure when showing waterfront properties so that we can measure the depth of the water where your boat would be to make sure it has deep enough water for your type of boat etc. I check that morning to find out the current water level of Lake Norman so we can calculate the lowest and highest water depths of your pier/dock/boatslip.  The water levels of Lake Norman are controlled by Duke Energy and vary from full pond, 100′ (760′ above sea level) down to about 94′.  They use the dam at the south end of the lake to help regulate the water levels.

4.  50′ Setback

The most recent regulations established in 2006 establish a 50′ setback from the 760 line.  Within this 50′ setback from the lake to your home there are strict regulations outlined in detail in the Shoreline Management Guidelines.  They are meant to protect the 50′ closest to the lake by prohibiting removal of trees and native vegetation, planting of lawns, and size of footpaths.  Older properties may violate these rules but they are “grandfathered in”.

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman Waterfront Home Sales 2005-2016: Interesting Insights!

Waterfront homes are a part of what makes Lake Norman so popular.  What an amazing lifestyle they offer!  Yet, during most of 2016  I once again noted, well complained, in my monthly Lake Norman market reports about our mercurial sales in luxury homes, the lack of inventory of good waterfront homes in the under $1 million price ranges and the historically low number of sales of waterfront homes as a percentage of our overall Lake Norman real estate market.  So, what is up with waterfront homes?  Now that 2016 is in the books I have put our 2016 waterfront home sales numbers in context with the past 11 years.  The results are really fascinating if you like numbers!  Let’s take a closer look:

Lake Norman Waterfront Homes Sales 2005 – 2016

Lake Norman waterfront home sales chart by year

*All date is compiled using the Charlotte Multiple Listing Service

A closer look by vertical columns of this chart:

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Lake Norman Waterfront Lot's view of the lake

Download this month’s Lake Norman calendar here

The weather was amazing in April!  Lake Norman’s gorgeous shoreline is once again decorated with our myriad lush green trees, flowering Azaleas and plants of all kinds.  In many places the docks just peak out to let people know that, in fact, someone is lucky enough to live behind those trees on the lake.

I took this picture from the dock of a waterfront lot I just listed in The Point, arguably the most prestigious luxury community on Lake Norman.  Since our recovery after the recession, the last remaining lots in The Point and the greater Brawley School Rd. peninsula have been gobbled up and most already have gorgeous new homes on them.  Construction is everywhere.  There are 3 waterfront homes being built just down the street from me and 3 others are completed.  I must admit that it is sometimes hard to see our beautiful, wooded lots disappearing.

The lot in this photo is shoulder to shoulder with some amazing luxury waterfront estates!  Check it out: 134 Cape Cod Way.

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Lake Norman photos

Lake Norman Real Estate’s May 2016 Calendar is Here!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2016 Market Report: So Far So Good!

To be perfectly honest, after such a great 2015 when we logged a healthy 7.3% increase over 2014,  I had some concerns about this year particularly given our extremely low inventory of active listings.  So far, however, these concerns have been unfounded.  After a positive January,  we were again in positive territory in February with a respectable 9% increase over February 2015 closed sales. In fact, this February we posted the strongest February since 2007.  But where are we trending for the next few months?  Let’s take a closer look:

Lake Norman Market Report February 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman’s Waterfront Home Sales 2005-2015: Interesting Insights!

During most of 2015 I noted, well complained, in my monthly Lake Norman market reports about our mercurial sales in luxury homes, the lack of inventory of good waterfront homes in the under $1 million price ranges and the historically low number of sales of waterfront homes as a percentage of our overall Lake Norman real estate market.  So, I decided it was time to take a look at Lake Norman’s numbers since 2005 of just our waterfront home sales.  The results are really fascinating if you like numbers!  Let’s take a closer look:

Lake Norman Waterfront Homes Sales 2005 – 2015

Lake Norman Waterfront real estate market report

*All date is compiled using the Charlotte Multiple Listing Service

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lake norman real estate, Lake Norman waterfront homes

Lake Norman’s Top 10 Most Expensive Home Sales in 2015

Lake Norman waterfront luxury estate at sunset

While Lake Norman is home to a wide variety of people and lifestyles, who doesn’t have fun looking at and learning about our luxury waterfront home sales?  Above and below are some of my favorite photos from the top 5 waterfront estates sold in 2015.

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