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Everything you need to know about beautiful Lake Norman, NC including waterfront properties, relocation resources, local news, photos and my latest blog post…

Lake Norman Real Estate’s December 2019 Market Report

All data is from the Canopy/Carolina Multiple Listing Service.

As we analyze the real estate market numbers for Lake Norman in December 2019, December was much stronger than originally expected. There was an increase in single-family listings sold by 32%, compared to December 2018. Active listings took a significant drop with a 25% decrease. Inventory continues to be problematic in our market. Read more here.

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Lake Norman Real Estate’s December 2019 Market Report

All data is from the Canopy/Carolina Multiple Listing Service.

As we analyze the real estate market numbers for Lake Norman in December 2019, December was much stronger than originally expected. There was an increase in single-family listings sold by 32%, compared to December 2018. Active listings took a significant drop with a 25% decrease. Inventory continues to be problematic in our market. At first glance, it would appear that properties under contract were down significantly as well by looking at the Under Contract Show report, however if you combine the Under Contract Show and No Show, the difference was very minimal with only a 5% decline. Of the 172 properties sold, 45 were new construction, making up 26% of the homes sold. That leaves 75% of the market open for resale homes. Also, with a very close 23%, waterfront homes accounted for 40 of the 172 homes. The average price of new construction homes sold was $395,893. Based upon the average sold price for all single-family homes at $527,188 the resale market demands a higher sales price. Waterfront averages sales price is higher as expected, at $888,140.

Looking at the chart below, December 2019 tied 2017 for the highest number of units sold in December since 2005. However, the total units sold throughout the year was 2133, making 2019 the strongest year for total units sold! The averages sales price for 2019 was at $535,638, with a 97.4% list price to sales price ratio. The cumulative days on market averaged 102, which is still a very strong seller’s market. Both new construction AND waterfront homes sold accounted for 22% each, of the total units sold for 2019. However, the average sales price of new construction was $394,695, while the waterfront reached $972,058. We are expected to see continued growth in 2020. Prices are also expected to increase by 3% to 5%.

CLOSED HISTORICAL SALES FOR LAKE NORMAN REAL ESTATE

 

It is going to be an interesting year for sure as many economists can’t seem to agree.  Lake Norman is also becoming a strong second home and vacation home market.  That will also influence the coming year.  North Carolina also came in 3rd for the top states that Americans moved to last year as depicted by the graphic below.  That is exciting news for us North Carolinians! Please continue to follow along month to month as we explore and analyze the market.

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Lake Norman Lake Levels Nearing Full Pond

Lake Norman

The sun is shining on Lake Norman this morning, but the rainfall from Thursday’s massive storm remains evident everywhere and has led to the lake levels rising to nearly full pond.  As of this morning, lake levels are up to 99.3 feet, only 7 inches from full pond, which is 100 feet. Here’s the update from Duke Energy:

Lake Norman

08-FEB-20 The Catawba River Basin is experiencing increased inflows and higher lake levels due to the recent rainfall. Duke Energy is aggressively moving water through the river system. Additional rainfall forecast over the next 7 days could result in higher lake levels. Updates will be provided as conditions change. Real-time lake level information is available at duke-energy.com/lakes, by calling 800-829-5253 and via the Duke Energy Lake View mobile app.

99.3 ft.

As of 02/08/2020 at 07:35 AM

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Download this month’s Lake Norman calendar here

Our February calendar features a Cedar waxwing (Bombycilla cedrorum).  These beautiful songbirds migrate through the Lake Norman area this month, traveling in large flocks of hundreds of birds, stopping to feast on seasonal fruits and berries. A flock or two faithfully visit our house to browse our privet and cedar hedges each year. Cedar waxwing are identified by their unmistakable sleek profiles, black eye mask, vibrant scarlet wing tips, and yellow tail tips. You may also hear them before you see them, as they are very social birds and like to chatter with each other.  For this reason, a flock of cedar waxwings is known as an “ear-full” due to their trills and tweets.  Another term for a flock of cedar waxwings, is a “museum,” which I can only imagine is due to their massive appearance together as a collection. They are a treat to behold each year!

 

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Lake Norman Real Estate’s February Calendar – Cedar Waxwings at Lake Norman

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Lake Norman Real Estate’s 4th Quarter 2019 Sales by Price Range

4th Quarter 2019 Lake Norman Home Sales by Price Range

*Compiled from the Carolina/Canopy Multiple Listing Service’s data.  Note that the numbers in this chart are generated by a technology expert I hired and not by me. The mapped perimeter of our Lake Norman area that he used for this chart’s numbers is slightly different from mine.

Despite a downturn in the last few months, Lake Norman’s overall real estate market in the 4th quarter of 2019 remained very much in a seller’s market. However, there were some fascinating sub-trends within price-ranges in the past 3 months as you can see above. By far the best way to truly understand our hot and cold niches is by analyzing our single family home sales by price-range which is why I create this chart each quarter.

If you are a home buyer or seller in the Lake Norman area it matters most what is happening in YOUR price-range. Yes, it is important to know about the global, national, and Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you 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 $500,000’s. And, if you are considering a broader range of prices, this chart can help you develop a more effective strategy by narrowing your search based upon actual strengths and weaknesses within our Lake Norman price-ranges.

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Red Dirt Alert! New Iredell Health Mooresville Facility

Have you noticed the large tract of recently graded land off Bluefield Road (behind Lake Norman Realty’s Mooresville Office) and wondered, “what will that be?” I’m happy to report this 17-acre site is the new location for Iredell Health System’s new Mooresville facility.  The ground-breaking ceremony was this morning, and John Green, President and CEO, of Iredell Health System (pictured below) shared many details for the new facility.  The total project will be 200,000 square feet and will employ 1750 at the new facility upon completion.  The first phase will be 68,000 square feet and is planned to open in June 2021. Green shared in his remarks, “We are dedicated to being high touch, high tech, high quality, and highly reliable.”  Iredell Health System is a local community non-profit organization.

John Green, President & CEO, Iredell Health System

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Lake Norman Realty January 2020 Calendar

Historic Croft Schoolhouse

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Lake Norman Real Estate’s January 2020 Calendar

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Lake Norman News, Events and Celebrations

Lake Norman New Year’s Eve Celebrations 2019/2020

Lake Norman New Year's Eve 2020

Lake Norman and the greater Charlotte area don’t have just one major New Years’ celebration or event, instead we have myriad ways to celebrate on New Year’s Eve 2019 and New Year’s Day 2020. Our public celebrations are, for the most part, found at local restaurants and entertainment venues spread throughout Lake Norman and Charlotte. From cruises on our beautiful Lake Norman to elegant 5-course dinners to rockin’ oldies bands, there truly is something for everyone.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2019 Market Report

Lake Norman real estate home sales report

All data is from the Canopy/Carolina Multiple Listing Service.

As our pending numbers from the past 2 months predicted, Lake Norman home sales in November were very strong: a whopping 50% increase over last year’s. They also exceeded all prior Novembers’ home sales since 2005 by a significant amount. (See green chart below). Yes, we were up against some weak 2018 numbers but the fact that we also beat our 2017 record-breaking November by 15.6% is truly impressive especially when you consider how dramatically low our inventory of active listings is today. What has changed, however, is our momentum. Based on the under contract and pending numbers above, our sales are going to be down quite a bit if not in December then January.  Let’s look at my comprehensive report below which will provide deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from November’s Lake Norman real estate sales data:

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Lake Norman real estate's December holiday greeting and calendar

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Lake Norman Real Estate’s December 2019 Calendar

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Historic Downtown Mooresville, Lake Norman News, Events and Celebrations

Lake Norman Area’s Christmas Parades and Holiday Events and Celebrations 2019

Our Lake Norman communities are humming with an amazing array of parades, festivities and celebrations during the holidays.  From small town parades to Christmas bazaars, old fashioned horse-drawn carriages, hot apple cider, carolers, Santa and even sailboat parades, you will find myriad ways to celebrate your holidays. It is amazing how Santa gets around Lake Norman!

Here are some of the biggest to get you started:

Lake Norman's Birkdale Village Christmas Tree

Christmas Tree at Birkdale Village’s main square

 

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2019 Market Report

Lake Norman Real Estate's October 2019 Market Report

All data is from the Canopy/Carolina Multiple Listing Service.

As our numbers from last month predicted, Lake Norman home sales in October were very strong: a 23% increase over last year’s and a 14% increase over last month’s. This month’s sales also exceeded all prior October home sales since 2005 by a significant amount! (See green chart below). Yes, we are up against some weak 2018 numbers but the fact that we also beat our 2017 record-breaking October is truly impressive especially when you consider how low our inventory of active listings is today. And, this trend looks to be continuing throughout the rest of this year. Let’s look at my comprehensive report below which will provide deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from October’s Lake Norman real estate sales data:

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Lake Norman Real Estate's November 2019 Desktop Calendar

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Lake Norman Real Estate’s November 2019 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 3rd Quarter 2019 Sales by Price Range

Lake Norman real estate sales by price range 3rd quarter 2019

*Compiled from the Carolina/Canopy Multiple Listing Service’s data.  Note that the numbers in this chart are generated by a technology expert I hired and not by me. The mapped perimeter of our Lake Norman area that he used for this chart’s numbers is slightly different from mine.

Despite a few weaker months, Lake Norman’s overall real estate market in the 3rd quarter of this year remained very much in a seller’s market. However, there were some fascinating sub-trends within price-ranges in the past 3 months as you can see above. By far the best way to truly understand our hot and cold niches is by analyzing our single family home sales by price-range which is why I create this chart each quarter.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2019 Market Report

Lake Norman real estate market report

All data is from the Carolina Multiple Listing Service.

At first glance our Lake Norman home sales for September look remarkable: a 20% increase over last year’s. But I encourage you to never take any real estate numbers out of context as they are pretty meaningless by themselves. What you need to know about this past September’s 20% increase is that we were up against an unusually low number of sales in September 2018. So, the whole picture includes the fact that our 170 sales still puts us below September of 2017, 2016 and 2005. We also dropped 19% from last month’s sales. Okay, our sales weren’t exactly stellar after all.  But, there is actually a lot of good in my comprehensive report below which bodes well for our last quarter and will provide deeper insight into where we are headed as well as details regarding this month’s sales.

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Lake Norman News, Events and Celebrations

Lake Norman’s 2019 Halloween Events, Pumpkin Patches & More!

Happy Halloween Lake Norman!

Every year at this time the Lake Norman area comes alive with pumpkin patches, corn mazes, Halloween festivities for all ages and homes decorated to welcome all of our young trick -or -treaters. Many of our subdivisions and communities around Lake Norman have their own neighborhood events that are really popular and are a great way to get to know your neighbors.  But here are some more options from kid-friendly to oh-so scary.  New events have been added this year!

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Lake Norman real estate's October 2019 Desktop Calendar

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Lake Norman Real Estate’s October 2019 Desktop Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2019 Market Report

Lake Norman Real Estate Market Report August 2019

All data is from the Carolina Multiple Listing Service.

We knew we were up against some huge sales numbers for last August so it came as no surprise that our Lake Norman home sales in August ended up 14% below August 2018’s. On the plus side our August sales were 9% higher than last month’s. August was the 3rd consecutive month that our Lake Norman home sales fell below last year’s. After a great start to 2019 we have definitely experienced a softening of our housing market. We are now just 2 sales higher than the first 8 months of 2018.  My numbers below should provide some deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from August’s Lake Norman real estate sales data:

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Lake Norman Real Estate's September 2019 Calendar

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Lake Norman Real Estate’s September 2019 Desktop Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2019 Market Report

Lake Norman real estate market report spreadsheet

All data is from the Carolina Multiple Listing Service.

So, despite pretty strong under contract and pending sales on last month’s market report, our Lake Norman home sales in July were not only 7% below July 2018’s but they were also 16.9% below last month’s. July was the second month in a row that our Lake Norman home sales were below last year’s. After a great start to 2019 we are definitely experiencing a softening of our housing market. Despite these drops, we are still 2.8% higher for the first 7 months of 2019 compared to 2018.  My numbers below should provide some deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from July’s Lake Norman real estate sales data:

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Lake Norman Real Estate Market Reports

Lake Norman’s 2nd Quarter 2019 Home Sales by Price Range

Lake Norman real estate's 2nd quarter 2019 home sales by price

*Compiled from the Carolina Multiple Listing Service’s data.  Note that the numbers in this chart are generated by a technology expert I hired and not by me. The mapped perimeter of our Lake Norman area that he used for this chart’s numbers is slightly different from mine.

Lake Norman’s overall real estate market in the 2nd quarter of this year continued our strong pace that began in January, (With the exception of June.) However, there were some fascinating sub-trends within price-ranges in the past 3 months as you can see in above chart. By far the best way to truly understand our hot and cold niches is by analyzing our single family home sales by price-range which is why I create this chart each quarter.

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Lake Norman Real Estate's August 2019 Desktop Calendar

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Lake Norman Real Estate’s August 2019 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2019 Market Report

Lake Norman Real Estate's June 2019 Market Report

All data is from the Carolina Multiple Listing Service.

So, our lower pending sales numbers in Lake Norman last month did, in fact, result in a decline in closed sales in June, posting a 12% drop from June 2018’s and a 6.3% decline compared to last month’s. This was the first month in 2019 that our Lake Norman home sales were below last year’s. Despite this modest drop we are still 4.4% higher for the first 6 months of 2019 compared to 2018.  My numbers below should provide some deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from June’s Lake Norman real estate sales data:

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Lake Norman Real Estate's July Desktop calendar

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Lake Norman Real Estate’s July 2019 Calendar

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Lake Norman News, Events and Celebrations

Lake Norman water levels are at full pond!

Lake Norman water levels when full

Wow, we have had a lot of rain this weekend and more is on the way!  I just wanted to give you all a heads up that Lake Norman is officially at “full pond”.  I drove around and the water is even topping over a few walkways out to docks.  It is quite beautiful! Here is the update from Duke Energy.  Remember that we have the Cowan’s Ford Dam mentioned below so the water will spill down to Mountain Island Lake where there may be some flooding.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2019 Market Report

Lake Norman real estate market report* All data is from the Carolina Multiple Listing Service.

Our Lake Norman’s real estate market posted record sales again in May with an impressive 12% gain over May 2018 and a 27% increase over last month’s. Wow! The first five months of 2019 stand out not only for their 9.3% total increase over 2018 but also for their consistency.  Each month exceeded last year’s and also increased over the prior month as well.  Consistency like this is very rare here in Lake Norman. It is even more interesting considering that this follows on the heels of a very a rough end to 2018.  My numbers below should provide some deeper insight into where we are headed as well as details regarding this month’s sales.

Here are what I feel to be the biggest takeaways from May’s Lake Norman real estate sales data:

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Lake Norman Real Estate's June 2019 Desktop Calendare

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Lake Norman Real Estate’s June 2019 Calendar

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Lake Norman Real Estate's May 2019 Desktop Calendar

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Lake Norman Real Estate’s May 2019 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2019 Market Report by Price-Range

Lake Norman’s 1st Quarter 2019 Home Sales By Price Range

Lake Norman Real Estate's Price Range Market Report 1st quarter 2019

*Compiled from the Carolina Multiple Listing Service’s data.  Note that the numbers in this chart are generated by a technology expert I hired and not by me. The mapped perimeter of our Lake Norman area that he used for this chart’s numbers is slightly different from mine.

Lake Norman’s overall real estate market in the first quarter of this year experienced a solid upswing after a very weak 4th quarter. However, there were some rather dramatic and inexplicable sub-trends within price-range groups both up and down within our market these past 3 months. These will be quite evident as you study the chart above. The best way to understand our hot and cold niches is by analyzing our sales by price-range which is why I create this chart each quarter.

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Lake Norman real estate's desktop calendar

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Lake Norman Real Estate’s April 2019 Calendar is Purrrfect!

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Lake Norman Real Estate's March 2019 Desktop Calendar

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Lake Norman Real Estate’s March 2019 Calendar is Here!

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Just the facts about Lake Norman, Property Tax Rates

Lake Norman property tax rates by county and city

 Lake Norman Propery Real EstateTax

 Lake Norman’s low property taxes are one of the attractions for home buyers considering a relocation to our beautiful area.  However, because Lake Norman falls in 4 different counties and ten towns for prospective home buyers it can be a bit of a challenge trying to get a sense of what their property taxes will be in any given location.

A special note!  I just updated the numbers below to our 2018 tax rates.  All properties were just reassessed for 2019 as they are every 8 years in North Carolina.  The last reassessment was 2011 and the next will be 2027. The new assessed values are just coming out and some properties have risen more than others so make sure to find out the new assessed value of a property of interest to you! These new assessed values will be used in our upcoming 2018-2019 tax bills.

Below are links to all of the county website pages that provide all of the information you will need.  In addition, here are a few helpful hints: Continue reading

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 Lake Norman Real Estate's February 2019 Calendar

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Lake Norman Real Estate’s February 2019 Calendar

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Lake Norman Real Estate’s 4th Quarter 2018 Market Report by Price Range

Lake Norman experienced a dramatic slowdown in our 4th quarter but that doesn’t mean there weren’t “hot” niches.  The best way to understand our hot and cold niches is by analyzing our sales by price range which is why I create this chart each quarter.

If you are a home buyer or seller in the Lake Norman area it matters most what is happening in YOUR price-range. Yes, it is important to know about the global, national, and Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you 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 $900,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. And, if you considering a broader range of prices, this chart can help you develop a more effective strategy by narrowing your search based upon actual strengths and weaknesses within our Lake Norman price ranges.

The single most important number in this chart is the last column which provides that month’s of supply for each price range.  Keeping in mind that economists use 6-months supply as a balanced market and anything below that as a seller’s market and above 6 months as a buyer’s market, you can quickly determine this past quarter’s strengths and weaknesses.  Overall, at 5.77 months of supply of active listings, Lake Norman ended the year in a balanced market.

Lake Norman’s 4th Quarter 2018 Home Sales By Price Range

Lake Norman real estate home sales by price range 4th quarter 2018

*Compiled from the Carolina Multiple Listing Service’s data.  Note that the numbers in this chart are generated by a technology expert I hired and not by me. The mapped perimeter of our Lake Norman area that he used for this chart’s numbers is slightly different from mine.

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Lake Norman Market Trend Graphs in Real Time!

In November I launched a new feature on my Lake Norman Real Estate site.  I now have a real-time automatically updated graph of the number of active listings and homes sold in all of Lake Norman by month for the past three years.  These easy to read graphs provide simple but great insight into today’s trends in an historical context.  To get the latest number just click on Lake Norman Market Trends. .

Here are this month’s graphs:

Lake Norman homes sold for past 3 years graph by month

 

*Note that the sales numbers aren’t updated until the 20th of each month.

Above is the graph of single family homes sold in Lake Norman for the past 6 months.  You can clearly see our record-breaking months from May – August and then our nose dive in September with a slight uptick in October, down in November and December.   I discussed this in detail in the Lake Norman Real Estate Market Report December 2018.

 

Lake Norman real estate graph of homes sold trends

 

Above is the active listing graph.  As you can see our inventory of active listings was significantly lower from June – September compared to prior years and as of today are actually about even with the past 2 Decembers.  Keep in mind that those years we also had very low inventory of homes for sale!

I will update this post monthly for you!

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Lake Norman News, Events and Celebrations

Lake Norman water levels are high again! Updated Jan. 5th 2018

lake norman water levels when high

Duke Energy just released the warning below with an update and caution due to yet another storm that arrived today. Due to our unusually high amounts of rain and snow, our Lake Norman water levels have been unusually high this past month.  100′ is full pond so at 98.6 we have some wiggle room but based upon the Duke Energy warning below, we can expect increasing lake water levels for the next few days at least. To get an idea of what it looks like when Lake Norman is a “full pond”  I took this photo a few years ago when it was at full pond and as  you can see even the dock is slightly under water!

Here is the official update from Duke Energy from today, January 5th.

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Lake Norman Real Estate's January 2019 Calendar

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Lake Norman Real Estate’s January 2019 Calendar

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Lake Norman News, Events and Celebrations

Lake Norman New Year’s Eve Celebrations 2018/2019

Lake Norman real estate's New Year's Eve 2019 Image

 

*******  For Lake Norman New Year’s Eve Celebrations 2019/2020 click on this link!

 

 

Lake Norman and the greater Charlotte area don’t have just one major New Years’ celebration or event, instead we have myriad ways to celebrate on New Year’s Eve 2018 and New Year’s Day 2019. Our public celebrations are, for the most part, found at local restaurants and entertainment venues spread throughout Lake Norman and Charlotte. From cruises on our beautiful Lake Norman to elegant 5-course dinners to rockin’ oldies bands, there truly is something for everyone.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2018 Market Report

Lake Norman’s real estate market continued its dramatic downturn in November with a 26% drop in home sales compared to last year and a 31% drop from last month’s.  While this was the 4th best November since 2005 this certainly isn’t enough to restore our confidence. No matter what factors have contributed to our weakening housing market, we have been battered with three months and there is nothing to suggest this will change in the next few months given our low pending sales and new contracts’ numbers compared to last year. My numbers below should provide some deeper insight.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • Our Lake Norman home sales were down for the third consecutive month and our year-to-date sales are down -3.6% compared to 2017.
  • Our inventory of active listings remains historically low, (13 fewer than last year), as they have been all year, never reaching our normal summer highs.  It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.
  • Our pending sales and our newest contracts (UCS) are down which indicates a continuation of the slowdown for the rest of 2018.
  • Waterfront homes moved back into a buyers’ market.
  • I want to share with you again this great interactive calculator for determining rent vs. own costs from the New York Times!

Let’s take a closer look:

Lake Norman real estate market report for November 2018

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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LKY Realty December 2018 Calendar Lake Norman                                                                                     Download this month’s Lake Norman calendar here

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Lake Norman Real Estate’s December 2018 Calendar

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Historic Downtown Mooresville, Lake Norman News, Events and Celebrations

Lake Norman’s Christmas and Holiday Events and Celebrations 2018!

 

Important Update!
For the 2019 list go to:  Lake Norman Area’s Christmas Parades, Holiday events and Celebrations 2019

 

Our Lake Norman communities offer an amazing array of festivities and celebrations during the holidays.  From small town parades to Christmas bazaars, old fashioned horse-drawn carriages, hot apple cider, carolers, Santa and even a sailboat parade, you will find myriad ways to celebrate your holidays. It is amazing how Santa gets around Lake Norman!

Here are some of the biggest to get you started:

Lake Norman's Birkdale Village Christmas Tree

Christmas Tree at Birkdale Village’s main square

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October Market Report

As predicted, Lake Norman’s real estate numbers for October continued their downturn for a second month in a row. We logged in a total of 150 home sales, a 14% drop when compared to last October but a 13.6% increase over last month’s. So, while disappointing, not nearly as severe a decline as we experienced in September. And, this was the 4th best October in since 2005. Was Hurricane Florence a factor? No matter what factors have contributed to our weakening housing market, there is clearly a downward trend that will continue through the end of this year.  Our low pending sales and new contracts’ numbers compared to last year are both down which substantiates this trend. My numbers below should provide some insight.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

  • Our Lake Norman home sales were down for the second consecutive month and our year-to-date sales are down -2.6% compared to 2017.
  • Our inventory of active listings remains historically low, (44 fewer than last year), as they have been all year, never reaching our normal summer highs.  It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.
  • Our pending sales and our newest contracts (UCS) are down which indicates a continuation of this slowdown for the rest of 2018.
  • Waterfront homes moved back into a buyers’ market.
  • I want to share with you again this great interactive calculator for determining rent vs. own costs from the New York Times!

Let’s take a closer look:

Lake Norman Real Estate Sales Analysis

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Calendar image of hay field at sunrise

Lake Norman Real Estate’s November 2018 Calendar

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Lake Norman Real Estate’s November 2018 Calendar

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