Lake Norman Real Estate Market Reports

Mooresville Home Sales are HOT!

I had a friend ask me if I would do a sales analysis of Mooresville’s 28115 zip code because this area is not a part of my Lake Norman market reports.  I said sure!  Just to clarify, area 28115 is almost entirely the Town of Mooresville and is east of I-77.  Almost all of the portion of Mooresville on the Lake Norman side of I-77,  which has zip code 28117,  is considered Mooresville but is actually in Iredell County and does not receive any services like sewer, water etc. from The Town of Mooresville.  The Town of Mooresville even has a separate school system.  Confusing? Yep!

First, I took a look at their total annual sales comparing 2016 to 2015:

Town of Mooresville Market Report 2016 vs 2015

*All date is from the Charlotte Multiple Listing service

So, as you can see, Mooresville’s number of homes sold in 2016 was 14% higher than 2015, the average sales price was 8% higher than 2015 but the days on the market was just about identical.

Next, let’s take a look at the past 6 months in more detail:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2011 Hot Sheet in Not So 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.  These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

After 5 relatively strong months over the summer and early fall, our Lake Norman housing market has experienced a slowdown since November, once again underscoring the erratic nature of today’s real estate market.  The most significant aspect of today’s Lake Norman numbers is the continued decline in the number of active listings for sale.  At only 837 homes for sale in all of area 13 (Lake Norman), the trend of double digit declines continues.  In December of 2008 we had 1400+ homes for sale in Lake Norman.

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