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.
For years, one of the best ways I have found to track Lake Norman’s real estate trends is to compare the largest of the waterfront Crescent Communities that were developed on all sides and corners of Lake Norman. While our market has evolved, comparing home sales activity in The Point, The Harbour at The Pointe and The Farms in Mooresville, The Peninsula in Cornelius, Sailview in Denver, Northview Harbour in Sherrills Ford and Falls Cove in Troutman/Statesville provides valuable insight into these 5 Lake Norman towns and how each is recovering from or changing since the recession.
One of the best ways I have found to track Lake Norman’s real estate trends is to compare the largest of the Crescent Communities that are found on all sides and corners of Lake Norman. Comparing home sales activity in The Point, The Harbour at The Point and The Farms in Mooresville, The Peninsula in Cornelius, Sailview in Denver, Northview Harbour in Sherrills Ford and Falls Cove in Troutman/Statesville provides valuable insight into these 5 Lake Norman towns and how each is recovering from the recession.
* All home sales data is from the Charlotte Multiple Listing Service
I must admit I was surprised by many of the numbers above:
- The Peninsula is actually out performing The Point both in number of total sales and, with a significantly lower number of active listings, it has a much more competitive number of months of supply at 5.7 compared to The Point’s 15 months.
- That said, The Point and The Peninsula have almost identical numbers when it comes to the days a home is on the market, the percent of the listing price compared to the sales price and the average price per square foot.
- It is no surprise that The Point and The Peninsula have the highest homes sales price per square foot of all 7 Crescent Communities given they have the most luxury, high-end estates and amenities and are located in the strongest real estate markets on Lake Norman
- The months o f supply winner goes to The Farms which is not a surprise given the amount of new construction and the price ranges of $500.000-$600,000. Note that the average home sold for 98% of the listing price as well!
- I found it fascinating that Sailview, in Denver on the Northwest side of Lake Norman, not only has a very low number of of months of supply but the lowest days a home was on the market before it sold of all 7 Crescent Communities. The average price per square foot of real estate sales in Sailview was a modest $133 which supports my feelings that the west side of Lake Norman’s recovery has been later and slower than that of Mooresville and Cornelius on the east side.
- The numbers above for Northview Harbour, in Sherrills Ford, and Falls Cove in Statesville/Troutman which are both north of Hwy 150 support the fact that these are the weakest real estate markets in all of Lake Norman. However, it does look like Northview Harbour is gaining momentum. Continue reading
For the 6th time in 8 years, Mooresville-Statesville was named top Microplitan area by Site Magazine thanks to nearly doubling the number of economic development projects in 2011! And, Governor Perdue recently announced that our state of North Carolina has risen to 4th place for states based upon the number of new and expanded corporate facilities also by Site Magazine. Both local and state officials say that these awards are evidence of our business-friendly climate.
More evidence of the health of our future ecomony came from a recent Penkse Truck Rental press release that ranked Charlotte in the top 10 of one-way truck rental destinations in the US.
Now, if this isn’t enough evidence of our strong local ecomonic future, guess what “The Donald” said about the Lake Norman area when interviewed recently about his interest in buying The Point Lake and Golf Club and asked why he targeted the Lake Norman area?
“North Carolina and the Lake Norman Market in particular are a much safer investment than some of the higher-profile resort locations teeming with speculative and unproven markets” according to a recent Business Today article entitled: Trump says Lake Norman market is big draw….Market ‘stable, well occupied’.
In fact, while in town for his meeting this week with members of The Point Lake and Golf Club in Mooresville, Trump went on to say to the Charlotte Observer:
“We love this piece of land, the lake, the tremendous lake…The views from the (golf) course are magnificent…I think Charlotte has a great future. I think the whole area is great. The people, the energy. That’s why we’re going to be doing this deal…I think we can bring that course to the next level…It will be a magical place.”