Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter 2013 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 $500,000s. This is exactly the reason why I create a price-range analysis every quarter:

Lake Norman Real Estate's 2nd quarter 2013 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.

** Compare this to Lake Norman real estate’s 2012 2nd quarter sales analysis by price range

How to read this report: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2013 Sales Analysis: Best June since 2007!

While Lake Norman’s June home sales weren’t quite as stellar as May’s, we still logged in some very impressive numbers.  At 150 single-family home sales we had the 2nd 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 about 151 contracts last month.  (Note, I revised this sales analysis on July 15th to reflect increased sales logged in to the MLS from 144 to 150).

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

Lake Norman Real Estate's June 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

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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

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2013 Sales Analysis: 2nd Best May in Lake Norman; EVER!

What words best describe Lake Norman’s May real estate sales?  Amazing, shocking, jaw-dropping, astounding, unprecedented, awesome; chose any or all of these.  I am almost speechless (which never happens).  While the dynamics of our Lake Norman real estate market have been impressive all year and even with such high numbers of properties under contract I don’t think anyone expected May to be the second best May in the history of Lake Norman home sales and the 10th highest month for home sales ever. Wow.  Once the late comers input their sales into the MLS my guess is that we will have closed about 165 contracts last month. (NOTE, I updated these two charts on June 13th as we are now up to 163 closed sales compared to 159 when I first wrote this post on the 6th.)

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

Lake Norman  Real Estate's May 2013 sales analysis updated

* 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

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Lake Norman photos, Lake Norman waterfront homes

Lake Norman waterfront real estate: Does it have to be love at first site?

Lake Norman waterfront home for sale

As I have written for years, Lake Norman’s waterfront lifestyles are almost schizophrenic.  On the one hand, we have the renowned luxury community The Point that is now affiliated with the Trump National Golf Club and offers stunning waterfront estates, impeccably landscaped homes and common grounds which offer a more uniform lifestyle dictated in part by the very strict home owner association rules and regulations which are in place to protect the quality and integrity of this very special community.

With 520 miles for shoreline however, most of Lake Norman’s waterfront homes are not in luxury communities but rather in as varied neighborhoods as you can imagine.  Keeping in mind that Lake Norman was created by Duke Power in the 1960’s and initially waterfront lots sold for as little as $500 you can understand that there still exist cabins, single and doublewide mobile homes dating back to it’s origins before I-77 was completed and before Lake Norman evolved into the global destination that it is today.

Honestly, most of my waterfront buyers want large, newer homes on Lake Norman’s Main Channel.  While I moved here in 2005 from Pasadena CA where I listed and sold primarily historic homes, I must admit I have grown so accustomed to showing  newer homes that when I went on a listing appointment a month ago knowing that the waterfront home was built in 1975 I had already decided it wouldn’t probably be one that I would get excited about listing.

My first mistake was wearing my The Point glasses when first touring the home and property. (Which I think many buyers do as well).  I made quick and bias assumptions focusing mainly on what the property wasn’t.  Each subsequent visit increased my interest and my memories of how to truly look at and appreciate a unique home starting with the realization that I have to stop using The Point yardstick when measuring the homes value, both monetarily and emotionally. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2013 Hot Sheet: It’s a heat wave!

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 strong since January 1st. But, even more significant, today’s level of activity in Lake Norman for single family home sales continues to grow and break records for our post-recession Lake Norman recovery. We currently have a whopping  330 homes under contract in all of Lake Norman which not only tops last month’s 290 (which was a new high) but far surpasses every month since the recession. Buyers are out looking and making offers. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2013

Lake Norman Real Estate's May 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. (May 6th – 20th). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2013 Sales Analysis

The dynamics of our Lake Norman real estate market are continuing to impress.  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 Lake Norman housing market.  There is a sense of energy and hustle reminiscent of the good old days. For some Realtors the days of 24/7 have also returned.  But make no mistake, every closing is challenging in one way or another!

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

Lake Norman real estate's April 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

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Lake Norman photos

Lake Norman Real Estate’s May 2013 Calendar is Here!

Lake Norman Real Estate's May 2012 Calendar

May is a very special month in Lake Norman.   The warm weather entices boaters out on the lake where they will enjoy our spectacular, lush shorelines, with myriad Maple, Poplar, Cherry, Dogwood, Pine and other trees showing off their fresh, bright green leaves and blossoms as well as a profusion of colorful azaleas in bloom.  If you live in a waterfront home or have access to a boat, I highly recommend a day out hugging the shoreline and just soaking in all the beauty of Lake Norman in the spring!

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos.  And, of course, he also takes some amazing photos of Lake Norman.  If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2013! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 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 strong since January 1st.  But, even more importantly, today’s level of activity in our Lake Norman for single family home sales continues to break records for post-recession Lake Norman. We currently have 295 homes under contract in all of Lake Norman which far surpasses any other time since the recession.  Buyers are out looking and making offers.    Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

4/21/2013

Lake Norman Real Estate's April 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.  (April 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2013 Home Sales Analysis by Price

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's 1st quarter 2013 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.

** Compare this to 2012 1st quarter sales analysis of Lake Norman homes 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 1st 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
  • 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.

Some Findings: Continue reading

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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

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2013 Hot Sheet is Here!

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 strong since January 1st.  But, even more importantly, today’s level of activity in our Lake Norman for single family home sales is very high. We currently have 271 homes under contract in all of Lake Norman which far surpasses any other time since the recession.  Buyers are out looking and making offers.    Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

3/21/2013

Lake Norman Real Estate's March 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.  (March 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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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

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lake norman real estate, Lake Norman Real Estate Market Reports

How Our Lake Norman Real Estate Market Stacks Up with National Housing Market

Lake Norman Home Sales Improving

One of my greatest concerns these days is that potential Lake Norman home buyers and sellers will base their decisions on national real estate news and even Charlotte’s housing market trends.  While in very general, broad terms our Lake Norman real estate market does share trends with the nation, when we get into the specifics there are a number of disparities which should be understood before anyone considers buying or selling a home here in Lake Norman.

Here is a look at Lake Norman vs. our National real estate numbers for January 2013:

Sales

  • Nationally, sales grew at a slower pace in January.  Existing home sales edged up .4%  when compared to December 2012’s sales but were up 9.1% when compared with January 2012.
  • Lake Norman’s home sales in January dropped 22.8% when compared to December 2012’s sales but were up a whopping 47.9% when compared to January 2012. Historically the Lake Norman real estate market sales are significantly lower in January compared to December so our 22.8% decline is “normal” for us but the 47.9% increase when compared to January 2012 is exceptional.

Number of Homes for Sale

  • The number of existing homes for sale nationally at the end of January was the lowest since April of 2005.  They represented a 4.2-month supply at the current sales pace.  In other words, if the country got no new listings it would take 4.2 months to sell all of the homes currently listed for sale.
  • The number of homes for sale in Lake Norman at the beginning of January hit a record low of 746.  At the end of January we had 10.8-month supply at the current sales pace which is more than DOUBLE the national averages. Despite hearing us Realtors complaining about our low inventory of homes for sale, the reality is we are still in a buyers’ market and have substantially more inventory than the national average.  Lake Norman’s average months of supply in 2012 was about 8 months.

Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 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.

After a strong 2012 for Lake Norman single family home sales and an impressive January 2013, it is critical to take the pulse of our February numbers to make certain that the optimism about our Lake Norman real estate market is justified.   Let’s take a look:

Lake Norman Real Estate’s Two-Week Hot Sheet

2/21/2013

Lake Norman Real Estate's February 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.  (February 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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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

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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

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman Real Estate’s Waterfront Home Sales Analysis 2012 vs 2011

 

Lake Norman waterfront home at The Point

 Life in Lake Norman for many means beautiful  sunrises and sunsets on the water every day.  It means walking from your backyard to your boat and taking off to go water skiing, sailing, tubing, fishing or just enjoying a glass of wine at sunset.  It is truly impossible to describe just how beautiful Lake Norman is and the quality of life those of us lucky enough to live here enjoy.

Living in a waterfront home is the ultimate goal of many who move here.  Our downturn in housing prices since the recession has opened a window of opportunity for many who couldn’t afford a waterfront home at the peak of our market.  It is important for potential homebuyers and sellers to know as much as possible about our waterfront home prices in the context of where they have been and where they are trending.

 

Waterfront Lake Norman home sales analysis 2012 vs 2011

* All data is from the Charlotte Regional Multiple Listing Service

As you can see, our waterfront home sales increased 23% in 2012 compared to 2011 and our average sales per square foot increased 4%.  But, there are significant variations within the different areas surrounding Lake Norman.

Area 13-1 is the northeast side of the lake including Mooresville north of Hwy 150, Troutman and Statesville. This area was particularly hard hit by the recession because this is the area where new construction was exploding. After the downturn started it had a greater number of foreclosures/distressed sales due to the inventory of “spec” homes in subdivisions that were just getting off the ground and then failed.  Now that this portion of their inventory is gone, sales have dropped 38% in one year, the average sales price increased 26% and the average sales price per square foot increased 3%. Of the 31 currently active listings in Area 13-1 (15.5 months of inventory) only ONE is distressed!  You will even see new construction and subdivisions showing signs of life.

Area 13-2 is all of Mooresville south of Hwy 150 to the Iredell/Mecklenburg county line including the Brawley School Rd peninsula and The Point.  This area is almost diametrically opposed to 13-1.  We had a 43% increase in sales in 2012 but because we were not up against a significant number of distressed sales, the average price increased only 1%.  There are currently 94 active listings in Area 13-2 (9-month supply based on 2012 sales) of which only 4 are distressed.  Now that the Brawley School Rd widening is complete and Donald Trump purchased The Point’s golf club this area is thriving!

Area 13-3 is all of Mecklenburg County including Davidson, Cornelius and Huntersville which are on the southeast side of Lake Norman. This is a fascinating and unique area since it had a nice increase in sales of 21% and a 4% increase in the sales price per square foot but a 14% decrease in the average sales price.   At $232 per square foot they were the most expensive waterfront homes on average and had  by far the highest average sales price as well.  This can be explained by the fact that these communities are relatively small, a bit more established with very few new construction homes and thanks to The Peninsula and surrounding neighborhoods has a greater percentage of luxury homes. There are currently 76 active listings (11.4 months of supply) of which 6 are distressed.

Area 13-4 is the southwest portion of Lake Norman, the unincorporated town of Denver in Lincoln County.  This area had a 49% increase in sales in 2012 with an average price increase of 5%.  However, the average $ per square foot actually decreased by 1%.  As inventory of good waterfront homes declined on the east side of Lake Norman more buyers turned to Denver.  At $175 per square foot Denver offers slightly less expensive prices for the same size homes. This is due in part to the fact that Denver has a greater percentage of modest, older communities on the lake and also it does not have nearly as many luxury homes.  There are currently 39 active listings (8 months of supply) in Area 13-4 of which 3 are distressed.

Area 13-5 is the northeast Catawba County area which includes the towns of Sherrills Ford and Terrell.  This area had a 17% increase in sales, a 22% increase in the average sales price and a 14% increase in the average sales price per square foot.  It is important to note that they had the lowest average price and price per square foot of only $172.  The affordability clearly attracted waterfront homebuyers who didn’t mind being a bit farther from shopping and restaurants.  This area also has far fewer luxury homes and more older, more modest neighborhoods.  There are currently 53 active listings in area 13-5 (12-month supply) of which 3 are distressed.

Overall, Lake Norman currently has 293 waterfront homes on the market which is a 10.3 month of supply of inventory based upon our 2012 sales.  In terms of months of supply then, Area’s 13-2 and 13-4 are the strongest and 13-1 and 13-5 are the weakest which concurs with an article I wrote earlier this year about what is available by price range  on Lake Norman’s shoreline.

Here is a fascinating breakdown of all of Lake Norman Area 13 waterfront home sales by price range in 2012:

Lake Norman Waterfront home sales by price range 2012

As you can see, I have provided the number of sales, the percentage of the total sales, the number of active listings today, the percentage of the total active listings and the months of supply for each price range.

Our very strongest price range for waterfront homes is remarkably $1,000,000 – $1,249,999!  Actually, if you  are an active reader of this blog you will know that I have been talking about how hot this price range has been for several months. This price range represented 9.4% of our sales in 2012 but only 3.4% of our current inventory of active listings when means at the current rate of sales we only have 3.8 months of supply!

As expected, Lake Norman’s waterfront homes up to $599,999 represented more sales as a percentage than they do in our currently inventory and all have months of supply under 6 months.  Our lowest price ranges historically maintain very strong numbers since they are our most affordable homes.

Surprisingly, some of our weakest price points are the $700,000’s and $800,000’s and to a lesser degree the $900,000’s.  These price ranges are simply lacking in “good” waterfront properties and have been all year.  They also tend to be listings that start out overpriced so sit on the market until they reduce the price to where they should be. Our current inventory is very picked over so buyers are waiting for good new listings or better properties to be reduced to our current market value.

Obviously, waterfront home priced over $1.5 million are still lagging in sales.  That said, we currently have 8 properties over $1.5 under contract so it does appear that our luxury waterfront housing market is improving.

Hopefully you will be able to use these charts to better understand Lake Norman’s waterfront real estate market both by area and price range.  If you have any questions don’t hesitate to call or email me!

RELATED ARTICLES

Lake Norman’s The Point:  The Trump Factor

Lake Norman Waterfront Real Estate: What is Currently on the Market in YOUR Price Range?

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman’s The Point: The Trump Factor

Lake Norman's Trump National Golf Club Sign

Since Donald Trump purchased The Point Golf Club  situated in the renowned luxury community The Point on Lake Norman last spring, there has been avid speculation about how he will impact the entire community’s ambiance and the values of the more than 800 luxury and waterfront homes.  Today, as you drive through The Point and you will see workers just about everywhere; from the golf course itself where all 18 holes are being lengthened and upgraded to landscaping crews to painters to workers remodeling “The Tavern” and dining room.  It turns out Mr. Trump doesn’t like grey so the quaint gray shingled Nantucket-style builds at “The Village” including the building pictured above at the traffic circle, are now a very bright white! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 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.

There is no doubt that 2012 has been a very strong year for Lake Norman real estate and home sales relative to all years since 2007.   Every month this year we exceeded sales of the same month in 2011 and in most cases posted the strongest sales since 2007. With 97 closed sales last month,  in November we actually experienced an INCREASE in sales over September and October defying our usual seasonal slowdown! Based upon the numbers below there is no doubt in my mind that this month will make it 12 months in a row, or our entire 2012, that we beat the prior year’s sales for the month.  Let’s take a look:

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Lake Norman photos, Relocating? Life in Lake Norman

Lake Norman Photos: from Sunrise to Sunset

It is time to share so beautiful photographs of Lake Norman!

This first group includes some of my favorites of the lake itself that I or several of my clients have taken over the years.  They include some gorgeous sunrises and sunsets.  In the future I will create groups of photos of waterfront homes, sports/boating, neighborhoods and many more!  Enjoy!

130 Lochfoot sunrise on Lake Norman

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2012 Sales Analysis; An emphatic 11!

Lake Norman’s November 2012 residential real estate sales number places an explanation mark on the belief that our housing market has hit bottom and is steadily and consistently improving.   November’s total single family home sales in Lake Norman makes it eleven months in a row that we have exceeded all prior months’ sales since 2007.  What is remarkable is that once the few last sales are input by the agents who always run late in recording their sales, I believe we will also exceed November 2006’s home sales! And, while Lake Norman has experienced atypical seasonal slowdown to a degree, it is not nearly as dramatic as most years.

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

Lake Norman Real Estate's November 2010 Home sales

* 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.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 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.

There is no doubt that 2012 has been a very strong year for Lake Norman real estate and home sales relative to all years since 2007.   As of today the MLS has a total of 120 closed sales for May, 119 sales for June, 115 for July, 120 for August 92 for September and 92 for October; all 6 recording the highest months’ sales since 2007!  While the best October since 2007, last month was the second month in a row where our sales failed to reach 100. While still relatively strong, we are seeing a typical seasonal slowdown in our Lake Norman housing market. November, while looking to be is a continuation of this slowdown, may be one of the strongest Novembers since 2005.  Will we, for the 11th month in a row, beat the prior year’s sales for the month?  Let’s take a look:

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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

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 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 past five months pretty much blew our Lake Norman sales trends right out of the water.  As of today the MLS has a total of 120 closed sales for May, 119 sales for June, 115 for July, 120 for August and 90 for September of which 4 of the 5 are the highest months’ sales since August of 2007!  While the best September since 2007, last month we did begin to see a marked slowdown in our Lake Norman housing market. It appears from our numbers below that October is a continuation of this slowdown which may be a bit more than just the typical Lake Norman seasonal slowdown.  Will we, for the 10th month in a row, beat the prior year’s sales for the month?  Let’s take a look: Continue reading

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 3rd Quarter Homes Sales by Price

If you are a home buyer or seller in 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:

*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

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September Sales Analysis Makes it 9!

Lake Norman’s September 2012 residential real estate sales number makes it NINE months in a row that we have exceeded all prior months’ sales since 2007.  While all 9 months of 2012 have been strong, our homes sales in September were not quite as impressive when compared to last September plus they dropped 26.7% from last month’s and were the third lowest month in 2012.  After 4 months of triple digit sales it looks like we will remain in double digits for September even after a few more sales are input into our MLS  late by agents. We are clearly seeing our typical seasonal slowdown but at this point it still 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 September we should have recorded at least 90.

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

* 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. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 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 four months pretty much blew our Lake Norman 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, 115 for July and 118 for August which are the 4 highest months’ sales since August of 2007!  It appears from our numbers below that September will also be a very strong month of housing sales for Lake Norman but there are some signs of a typical seasonal slowdown.  Will we match last month’s highs?  Let’s take a look: Continue reading

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Just the facts about Lake Norman

Lake Norman water levels are down but only temporarily!

 

**For an update on our 2015 lake levels go to:  http://bestrealestatelakenorman.com/caution-lake-norman-water-levels-unusually-low-due-to-drought 

If you live on Lake Norman you can’t help but notice that the water levels have lowered fairly suddenly by about 2 feet which is VERY unusual.  Well, it turns out, according to an update on 9/11/12 on the Duke Energy website, that:

Duke Energy is operating Lake Norman at or below 96.5 feet to support temporary maintenance work at McGuire Nuclear Station through mid-October. This is lower than our target level for this time of year of 98 feet but is within the normal operating range.

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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

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Lake Norman photos

Lake Norman Real Estate’s August 2012 Wallpaper Calendar

 

This month’s picture is a great example of a wide cove with deep water and views out to the main channel of Lake Norman.  For folks who don’t want the waves and noise that goes along with those incredible main channel views, a cove like this one is a great option.  It has deep water and is wide enough to offer lovely views.  I took this picture from the dock of a home I sold for “land value” for $305,000 last month.  It was an exceptional deal! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2012 Sales Analysis; Best First Half of a Year since 2007!

Strong June housing numbers for Lake Norman mean we have had a full 6 months in a row of sales above the prior year.  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.  Not only did our June sales beat June 2011 which was a relatively strong month in 2011 but we have already matched the June 2010 numbers which were elevated by the housing rebate program. As always a few more agents will be late in recording their sales so when all the numbers are in we will have had the best June since 2007.

Despite positive numbers, I wasn’t sure we would record this many sales in June.  Can we sustain this trend through the rest of 2012 and beyond?  While there are signs of a bit of a slowdown it looks like the next several months will maintain higher sales than all prior months since 2007.  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 June 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market: Continue reading

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Lake Norman waterfront homes

Lake Norman Waterfront Real Estate: What is Currently on the Market in YOUR Price Range?

Lake Norman waterfront home on it's own point

 

Without a doubt the most common contacts I get from this blog/website are buyers searching for waterfront homes on Lake Norman.  Most of these buyers want to buy at what appears to be our “bottom”.  The good news is that prices are very low compared to our peak of 2007.  However, our inventory has also dropped to half the number at our peak so there is less available today.  In order to educate you about our waterfront homes I am going to describe what is currently for sale by price range.  This should also help some folks who may arrive in Lake Norman with unrealistic expectations of what they can afford.

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Lake Norman photos

Lake Norman Real Estate’s July 2012 Wallpaper Calendar

 

It’s the weekend before 4th of July and it is HOT outside so what better place to be than on “the lake” as we call it here?  I took this photo a few weeks ago while out on our boat.  It really captures  life here: gorgeous blue skies and water, thick green trees, lovely waterfront homes and folks out having fun on the lake. Water skiing is just one of myriad sports and activities on Lake Norman!

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lake norman real estate

Lake Norman Real Estate Introduces eValuator!

I am thrilled to offer a new property evaluation tool to my readers!  eValuator is the brain child of Davis Farrell, a Charlotte company that provides my home search/Multiple Listing Service feature on this site.  Prompted by complaints by clients about Zillow’s inaccuracy, they set out to make the most accurate property value tool currently available!  Their “proprietary algorithm ranks the comps and uses the top 5 and even offers a percentage match”.

My hope is that you all will test it out and give me feedback as it is still a work in progress.  For instance, I discovered that they were using waterfront comparable sales for off-water homes.  Within hours of my bringing it to their attention they fixed the problem!

It is easy to use.  Just click on the link on the right  side of this home page: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 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.

Well, last month I became a bit skeptical about the sustainability of the stronger sales numbers in our Lake Norman housing market so far in 2012.  But, after a few small hiccups our closing sales in April actually ended up at 90 which matched our previous high April since 2007.   And, now our May sales numbers are looking even better:

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2012

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

I created this additional chart comparing just the May Hot Sheets for the past 3 years to help put our May 2012 numbers in perspective with the past Mays, not just the past 6 months: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2012 Home Sales Analysis

April makes it four; four months in a row of Lake Norman home sales increases over the prior year….but barely! As of today our closed sales are just equal to April 2011’s (See Below!) but I expect at least 3 or more April sales once all of the agents have input their data into our MLS which is the case every month.  Unlike the last three months, however, our April closings will not be the highest since 2007.  (Update 5/15, they actually equalled our highest April’s!) Of course, in April 2010 we had the tax rebates  but we may even match those numbers once all of our sales are recorded.  All in all, not a bad month but not great either.  That said, wait until you see our other numbers! Here are the April 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s May 2012 Wallpaper Calendar

 

If you are a sunset person, then you will love Lake Norman.  Every evening offers a unique version of the photo above which I took recently at one of my waterfront listings.  Sometimes they offer a stunning contrast of the colors of a brilliant fire reflected in a dark layer of glass like this one.  Other times our sunset are soft pastel pinks, blues and yellows:

 

I have a special group of tools with me at all times when showing waterfront properties one of which is a tape measure to see how deep the water is at the dock and the other is a compass to determine exactly where the sun rises and sets. Some waterfront home-buyers definitely want sunsets while others want to avoid the afternoon sun and prefer sunrises.  With 520 miles of shoreline and myriad peninsulas, Lake Norman offers plenty of options for either of the above and everything in between! Continue reading

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lake norman real estate, The Real Estate Process, Home Buying and Selling Tips

The Reality of Lowball Offers in Lake Norman Real Estate

I got a call yesterday from a potential buyer for one of my listings.  He told me he would like me to present an all cash offer of $350,000 for a property I just listed at $429,000.  With a little prodding I was able to find out that he hadn’t seen the home and didn’t know the neighborhood.  I tried to explain a bit about the price and comps and his response was “it is a terrible real estate market and that’s all I need to know”.  REALLY?

Needless to say, my client’s counter to this buyer was not accepted.

This is just one example of how not to be successful in our current Lake Norman housing market. While it is quite common for investors and low-ballers to make these kind of offers when a new listing comes on the market, I have to wonder what these buyers are thinking?  Or, are they thinking at all?  Even banks get disgusted with these types of buyers.  Here is a great example: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2012 Sales Analysis: Good news!

I don’t know about you, but I welcome good news of any kind these days.  The fact that our Lake Norman home sales have not only picked up but have had two positive months in a row with indications of more to come is almost GREAT news!

It is important to note that these numbers are only as good as the agents who report them. Expect an adjustment in our 57 sales in February upward perhaps two more sales by the end of the month since it takes some Realtors several weeks to actually input their sales into our MLS.  I create these reports early in the month while the information is still very fresh so always pad the sales upward just a bit.

Here are the February 2012 numbers from our Charlotte Multiple Listing Service for our Lake Norman area real estate market: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s March 2012 Wallpaper Calendar is Here!

 

Lake Norman Waterfront Shoreline at Dusk Photo for Calendar

Awwww, another day in paradise here on Lake Norman!  I took this photo at dusk from the dock of a property I listed this past Saturday which sold with multiple offers in 3 hours! Yes, our Lake Norman housing market is improving.  (I’ll write a separate post about this sale).   Last month’s calendar photo was a main channel view.  This photo is of a very wide cove which opens to the main channel.  The homes in the photo are located in Connor Quay, a small luxury gated community adjacent to The Peninsula in Cornelius.  The benefit of a location like this one is that you have stunning views including sunsets but you are off the main channel far enough to be spared from the wear and tear on your dock and the noise at peak boating times in the summer.

This photo was taken just a bit later and I turned towards the main channel but I was standing in the exact same spot as the photo above. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February Hot Sheet is Sizzling!

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.

There is nothing better than a HOT Hot Sheet!  Activity in the Lake Norman housing market picked up right after Christmas and seems to be gaining steam every day.  Here are our numbers:  Continue reading

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Lake Norman photos

Lake Norman Real Estate’s February 2012 Calendar is here!

 I was previewing Lake Norman waterfront properties last week on a spectacularly beautiful day and decided to take some photos.  This is about as good as it gets for what we call “main channel” views.  At the southern portion, the main channel of Lake Norman widens out quite a bit which creates these vast, wide open water views.  As you travel to the north side of the Brawley Peninsula, the main channel narrows a bit and curves around our many peninsulas making the main channel views quite different; a bit more private.

And yes, that is a real palm tree!  Continue reading

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman’s 2011 real estate market was, well, okay.

So, when all is said and done, our Lake Norman single family housing market was just okay in 2011.  We didn’t quite match 2010 sales but at least we didn’t have a double dip back to our abysmal 2009 numbers!  5 months in 2011 were either equal to or better than 2010 while 7 months were lower compared to 2010. With the exception of March, the first half of 2011 was pretty tough but then we had a string of strong months (look at August!) before dipping back down in November/December.  As you can see, there is really no consistent pattern by month:

Lake Norman Monthly Sales Chart for 7 Years

*Please note that all of my numbers are for single family homes. They come from the Charlotte Region Multiple Listing Service and will not include sales that took place outside of our MLS.  **I have made an adjustment of  the totals reflecting the ACTUAL  sales  every month in 2009, 2010 and 2011 and the totals in the prior calendar years.  The columns may not add up but I do my best with what I have to work!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2011 Sales Analysis

December 2011 home sales in Lake Norman continued the downward trend started in November. After relatively strong sales since June, our Lake Norman housing market slowed considerably in the last two months of 2011.  At 60 closed sales, Lake Norman single family home sales were down 20% compared to last month’s 75.

It is important to note that these numbers are only as good as the agents who report them. Expect an adjustment in our 60 sales in December upward by the end of the month since it takes some Realtors several weeks to actually input their sales into our MLS.  I create these reports early in the month while the information is still very fresh so always pad the sales upward just a bit.

Here are the December numbers from our Charlotte Multiple Listing Service for our Lake Norman area real estate market: Continue reading

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Just the facts about Lake Norman

Lake Norman’s Water Levels are Back Up!

 

**For an update on Lake Norman’s drought 2015 go to: Caution: Lake Norman Water Levels Unusually Low Due to Drought

 

If you live on Lake Norman I don’t have to tell you that our lake levels have been uncharacteristically low since late summer; dropping down to 95.0′ on September 17th which is a full 3 feet lower than our  summer “target” levels of 98 feet.  And, you most probably have also noticed a sudden increase starting on November 16th bringing us up to our current level of 98.7 feet! 

I must admit I am baffled as to why Duke Energy, who manages our Lake Norman water levels, decided to drop them fairly suddenly during a time when our “target” levels were 98 feet and we were not in a drought.  One guess is that they were worried about the potential for Hurricane Irene’s high rain levels.  If any of you all know more, please leave a comment!

For those of you who are new to Lake Norman, the very best resource regarding Lake Norman water levels bar none is Duke Energy’s Check Lake Norman Water Levels website  which Duke Energy updates daily.  On this site you can get the actual lake levels of all 11 lakes that are part of the Catawba River System as well as the “target”” Lake Norman water level for that day, the minimum , maximum, range and any lake message updates.  They also provide a schedule of flow releases and other related data.

Lake Norman is a result of the damming of the Catawba River back in 1963 when the Cowans Ford Dam was completed.  It is part of Duke Energy’s power resources and provides electricity to the Piedmont Carolinas by using the McGuire Nuclear Station and the Cowans Ford Hydroelectric Station at the south end of the lake and the Marshall Steam Plant on the west side at Highway 150.  The water levels are controlled by Duke Energy and normally vary less than 5 feet.

The maximum level is called “full pond” which is 760 feet above sea level. Duke Energy considers full pond to be the “the point at which the water begins to spill over the flood gate spillway.” You will sometimes hear waterfront homeowners refer to the “760 line”.

On the Lake Norman Water Level charts, full pond is considered 100.0 feet.  Duke Energy purposely lowers water levels seasonally to anticipate rain or melting of the winter snows that feed the entire Catawba River system.

If you want to see today’s 13-Month Lake Level History chart for Lake Norman  on Duke Energy’s website you can see the daily water levels for the past year.

All I know is the lake looks awesome!

Related Articles

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Lake Norman, Our Inland Sea

Lake Norman Relocation Resources 

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman’s Luxury Community “The Point”; Is it leading Lake Norman’s Real Estate Recovery?

 

The Point, with its 13 phases and about 900 home-sites is arguably the most well-known and popular luxury community on all of Lake Norman.  It has been fascinating to watch how the recession initially impacted its home sales and the progress it has made since then. In fact, the numbers today would indicate that The Point is actually leading the Lake Norman real estate market’s recovery. Continue reading

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Lake Norman waterfront homes

Has the Lake Norman Waterfront Housing Market Turned a Corner?

Lake Norman's waterfront view

Imagine enjoying expansive views of Lake Norman like this one from your own home!  You can choose sunrise or sunset views, private coves or the main channel like the lot above.  This is why Lake Norman is still such a popular destination for folks from all over the country.  ( I have also represented buyers from Russia, England and Australia!).

Waterfront homes are a unique real estate niche in the Lake Norman area and really need to be separated from the rest of our housing market when determining the current sales trends, the direction of prices and predicting the short and long term future. Continue reading

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2011 Sales Analysis: A GREAT month but….

Our Lake Norman real estate market has been on a positive roll since June culminating in a rather impressive October with 81 closed sales, a number that matches the best October in Lake Norman home sales since 2007!  (I have been expecting this to be the case for several months due to our high pending home sales numbers).

So, why I am not jumping up and down with enthusiasm?  Because I am more focused on our future numbers and our active price ranges.  As you will see below, our conditonal and pending home sales are lower than at the same time last year indicating a slow-down in November and even December sales.  And, a larger portion of our sales are at the bottom of our price ranges.

Here are  the October numbers from our Charlotte Multiple Listing Service for our Lake Norman area real estate market:

 

 

Some significant additional interesting statistics for you: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2011 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.

Just as I wrote last month, our Lake Norman real estate market continues to somewhat defy the volatile US and global economy.  After a relatively strong June, July, August, and September our housing numbers are continuing at about the same pace despite it all.  The report below would seem to be an indication that our October Lake Norman real estate sales will definitely exceed our October 2010 home sales.

Lake Norman Real Estate’s Two-Week Hot Sheet

10/21/2011

 

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

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