lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2017 Market Report

December numbers are out and with them we now have a complete picture of 2017! Below are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • We had an extraordinary, record-breaking month compared to all prior years, logging in 165 closed sales of single family homes in December. (See green and yellow chart below).
  • At 2006 closed sales in 2017 we ended up 17.24% above 2016’s total sales and logged in the highest annual volume of home sales in Lake Norman’s history, even exceeding 2005’s previous record high by 7.6%.
  • The average home price in Lake Norman was. 1/2 of 1% higher than 2016 and the median price was up 1.2%.  These are extremely modest gains.
  • Our trade-up price ranges dropped again after a good month.  The only thing consistent about this niche is their constant roller coaster ride of ups and downs.
  • Waterfront homes slipped back into a buyer’s market after two pretty strong months over the summer. Waterfront home prices have NOT recovered completely from their pre-recession highs.

While there is no guarantee that our high sales numbers will continue long term, 2017 was a remarkable year for our Lake Norman real estate market. That said, our prices have not risen at the same rate as Charlotte’s and the US and we still need to see improved consistency in our waterfront, trade-up and luxury niches for us to completely regain our pre-recession levels.

Let’s take a closer look:

Lake Norman Home Sales Market Report Dec 2017

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2017 Market Report

October numbers are out! Here are what I feel are the biggest takeaways from last month’s Lake Norman real estate sales numbers:

  • We had another strong albeit not record-breaking month, logging in 167 closed sales of single family homes. (See green and yellow chart below).
  • While our numbers are good compared to the same month last year, there is no doubt that our overall housing market has slowed considerably with lower sales than the past 5 months.
  • At 1695 closed sales, our first 10 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 6.2%.
  • What a freaky month when we look at price ranges.  A whopping 79% of our sales were under $600,000.  Then, seemingly out of nowhere, we had 7 sales OVER $2 million!
  • Our trade-up price ranges from $600,000-$999,999 simply disappeared after last month’s strong showing. So much for stability.
  • Waterfront homes fell back into a buyer’s market after two pretty strong months. Ups and downs and more ups and downs.

In a nutshell, these numbers mean that our overall strong sales in 2017 have been impressively consistent in beating prior year’s numbers month after month.  While there is no guarantee that this will continue long term, 2017 has really been a remarkable year for our Lake Norman real estate market. 2017 will be the single best year for home sales in Lake Norman’s history. That said, we still need to see consistent strength in our waterfront, trade-up and luxury niches for them to regain their pre-recession levels.

Let’s take a closer look:

Lake Norman real estate sales analysis October 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2017 Market Report: Historic Record!

Holy Cow! Lake Norman’s June closed home sales of 225 makes it the highest month in Lake Norman’s history, surpassing the previous high of 216 set back in August 2005! 5 out of the first 6 months of this year our sales exceeded 2016’s.  We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%.  Over all, the first half of 2017 was 19.6% higher than the first half of 2016.  AND, at 932 closed sales, our first 6 months were the highest first 6 months in Lake Norman’s history!  Let’s take a closer look:

Lake Norman Market Report June 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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