Lake Norman Real Estate
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This is Lake Norman

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  March 2019 Market Report

Lake Norman Real Estate's March 2019 Market Report

All data is from the Carolina Multiple Listing Service.

Lake Norman’s first quarter of 2019 is in the books logging in a 7.4% increase over last year’s. Our March sales came in with an 11% gain over last year improving upon the first two months of 2019.  Continue reading

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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 Market Reports

Lake Norman Real Estate’s March 2019 Market Report

Lake Norman Real Estate's March 2019 Market Report

All data is from the Carolina Multiple Listing Service.

First quarter 2019 is in the books and our Lake Norman’s real estate market has posted a 7.4% gain over last year’s first quarter. March continued our strong sales trend and there are some very positive indicators for April and May so perhaps it is safe to say we are on a roll!  This follows on the heels of a very a rough end to 2018. Our March sales were up 11% compared to last year. At 151 sales, March was also up 27% compared to last month and was tied for the second highest March home sales since 2005. Talk about a radical upswing since December! 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 March’s Lake Norman real estate sales data:

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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 real estate, Lake Norman Real Estate Market Reports

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

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!

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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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 3rd Quarter 2018 Sales by Price Range

Our 3rd Quarter 2018 price range analysis is fascinating because it reveals strengths and weakness not by groupings like luxury homes, trade-up or first-time buyer as is normally the case but rather by price ranges within these groupings.  If you compare this chart to the second chart below for the same quarter in 2017 you will see further evidence of these rather quirky numbers.

Why do I create a price-range analysis every quarter for my readers and clients? Because if you are a home buyer or seller in the Lake Norman area it really only matters 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 $700,000 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 of more effective strategy by narrowing your search based upon actual strengths and weaknesses within our Lake Norman price ranges.

Lake Norman’s 3rd Quarter 2018 Home Sales By Price Range

Lake Norman home sales by price range 3rd quarter 2018

 

*Compiled from the Carolina 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.  

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Lake Norman News, Events and Celebrations

Lake Norman’s 2018 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:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September Market Report

Lake Norman’s real estate numbers for September took a rather dramatic downturn. We logged in a total of 132 home sales (100 less than last month!), a whopping 35% drop when compared to last September and a 43% drop from last month’s. And, this was the worst September since 2013. Yikes!  Was Hurricane Florence a factor? After four very strong months our Lake Norman housing market’s September numbers are honestly a bit frightening.  Our low pending sales numbers from last month did indicate a slowdown but not to this degree. The million dollar question is where we are headed for the rest of 2018?  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:

  • September’s single family home sales were 35% below last September’s and 43% below last month’s which brought our annual year-to-date sales to -1.5% compared to 2017.
  • Our inventory of active listings remains alarmingly low numbers (a whopping 88 fewer than last year!) after never reaching our normal summer highs and yet we are still recording high sales.  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 jumped back up however our newest contracts (UCS) are down which indicates a continuation of this slowdown for the rest of 2018.
  • Waterfront homes moved back into a balanced 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 Report September 2018

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Sunset Calendar for October 2018

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Lake Norman Real Estate’s October 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2018 Market Report

Lake Norman’s real estate sales numbers for August were exceptional. We logged in a total of 232 home sales which beats last August’s 211 by 10% and they were 18.4% above last month’s.   After some ups and downs at the beginning of the year, the past four months have helped us to record 39 more sales in the first 8 months of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected by early national real estate projections. The million dollar question is can we sustain this level for the rest of 2018?  My numbers below will provide some insight into where we are headed for the next few months.

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

  • August’s closed sales were strong: 10% higher than last August’s, 18.4% greater than last month’s, the second highest month this entire year and the best August in Lake Norman’s history!
  • Our inventory of active listings continues to drop to alarmingly low numbers (a whopping 146 fewer than last year!) after never reaching our normal summer highs and yet we are still recording high sales.  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.
  • We are seeing some weaker pending sales which may be an indication of a slowdown at least for the next few months.
  • Waterfront homes moved back into a seller’s 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's August 2018 Sales Analysis

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate's September Desktop Calendar

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Lake Norman Real Estate’s September 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2018 Market Report

Lake Norman’s real estate sales numbers for July exceeded my expectations slightly by logging in a total of 191 home sales which beats last June’s 187 by 2%. However, our July sales were 23% below last month’s.   After some ups and downs at the beginning of the year, the past three months have helped us to record 12 more sales in the first 7 months of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected by early national real estate projections. The million dollar question is can we sustain this level for the rest of 2018?  My numbers below will provide some insight into where we are headed for the next few months.

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

  • July’s strong numbers were able to lift our total sales for the past 7 month’s of 2018 above our record-breaking 2017 numbers.
  • Our inventory of active listings continues to drop to alarmingly low numbers (a whopping 136 fewer than last year!) at a time when they should be peaking and yet we are still recording strong sales.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.
  • We are seeing some weaker pending sales which will likely lead to a slight dip in sales in the next few months.
  • Waterfront homes slipped back in to a buyer’s market and we saw fewer luxury sales as well.
  • 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 July 2018

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate's August 2018 Desktop Calendar

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Lake Norman Real Estate’s August 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter 2018 Sales by Price Range

Wow, what an amazing report this quarter! I was really shocked to see the extent of the improvement in all of our middle to luxury price ranges and the strength of our sales despite such low inventory.  If you compare this chart to the second chart below for the same quarter in 2017 you will see the impressive evolution of our luxury and waterfront housing markets in the past year.

If you are a home buyer or seller in the Lake Norman area 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 here 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 $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 2nd Quarter 2018 Home Sales By Price Range

Lake Norman Home Sales by Price Range 2nd Quarter 2018

*Compiled from the Carolina 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.  

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2018 Market Report

Lake Norman’s real estate numbers for June exceeded even my expectations by logging in a total of 246 home sales which beats last June’s record breaking 236 by 4%. And, our June sales were 18.8% higher than last month’s.   After some ups and downs at the beginning of the year, the past two months have helped us to record 4 more sales in the first half of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected. The million dollar question is can we sustain this level for the second half of 2018?  My numbers below will provide some insight into where we are headed for the next few months.

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

  • June’s strong numbers were able to lift our total sales for the past 6 month’s of 2018 above our record-breaking 2017 numbers.
  • Our inventory of active listings remains alarmingly low (a whopping 136 fewer than last year!) and it has not increased as it should at this time of year yet we are still logging strong sales.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.
  • We are seeing some weaker pending sales which will likely lead to a dip in sales in the next few months.
  • Waterfront homes are now squarely in a seller’s market for the first time since the recession.
  • 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 June 2018

All data is from the Carolina Multiple Listing Service.

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Lake Norman sunset calendar July 2018

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Lake Norman Real Estate’s July 2018 Calendar

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Lake Norman’s 4th of July 2018 Fireworks, Events and Celebrations

Lake Norman sunset

 

From nostalgic patriotic parades to community festivals with firework displays to myriad planned and spontaneous raft- up (boat) parties on Lake Norman, there truly is something for everyone here in the greater Lake Norman area this 4th of July. Get out of your home, save gas and have a great time!” I wrote this NINE years ago and it is still just as true this year. So, here is the run down on Lake Norman’s 4th of July festivities 2018:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2018 Market Report

After the ups and downs of the first 4 months of 2018, our Lake Norman home sales for May indicate that we are in for some consistently strong sales through summer.  We matched last May’s home sales which were a record-breaking month.  And, at the same time, we posted a 19.2% increase over last month’s home sales.  Overall our market has stabilized and our current momentum bodes well for the summer months.

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

  • May’s strong home sales reflect a strengthening of our overall Lake Norman housing market after a roller coaster ride at the beginning of the year.
  • Our inventory of active listings remains alarmingly low (100 fewer than last year!) and it is not increasing as it should at this time of year yet we are still logging strong sales.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.
  • We currently have a record-breaking number of “under contract” or “pending” homes which indicates we will see very strong closed sales in the next few months.
  • Our trade-up and luxury markets posted some good numbers supporting my feeling that these niches are finally recovering from the recession.
  • I want to share with you 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 for May 2018

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate's Desktop Calendar for June 2018

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Lake Norman Real Estate’s June 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2018 Market Report

We are now in our most active months for our Lake Norman area’s housing sales. After a dip in January, a jump up in February and a drop in March, our April Lake Norman real estate market followed this roller coaster pattern by posting a 5% gain over April 2017’s sales. And, we posted a 19.2% increase over last month’s home sales. So will this pattern continue?  Hopefully this month’s market report will provide us some insight as to what lies ahead.

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

  • April’s closed home sales were the highest April since 2005 even beating out last year’s 154. And, they are 19.2% higher than last month as well.
  • Our inventory of active listings remains alarmingly low and is not increasing as it should at this time of year; currently 11% below last year’s which were also historically low.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on Lake Norman’s home sales.
  • We may continue to experience an up one month and down the next for at least the short term given our lower Pending numbers.
  • With 7 sales over $2 million we just might be experiencing a true return of our luxury housing market!

Let’s take a closer look:

Lake Norman April 2018 Home Sales Analysis

All data is from the Carolina Multiple Listing Service.

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Lake Norman Waterfront Photo calendar

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It is days like this one above when I am reminded just how lucky I am to be a Realtor here in Lake Norman.  Imagine being able to enjoy views like this one while working!  I took this photo from a very special property being purchased by one of my very special buyers. The trees are turning green and the beautiful azaleas like this one are starting to bloom which make the Lake Norman shoreline so colorful at this time of year.  Every season at Lake Norman has its own character and beauty but this is by far my favorite!

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Lake Norman Real Estate’s May 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2018 Sales by Price Range

If you are a home buyer or seller in the Lake Norman area 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 here 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 $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 1st Quarter 2018 Home Sales By Price Range

Lake Norman home sales by price range for 1st quarter 2018

*Compiled from the Carolina 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.  

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 2018
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman
  • Next is the number of active listings in this price range today
  • 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. (A balanced housing market is 6 months so you can use this to gauge your price range).

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lake norman real estate

Lake Norman Real Estate’s March 2018 Market Report

We are now entering our most active months for our Lake Norman area’s housing sales. After a dip in January and a jump up in February our Lake Norman real estate market once again took a hit in March when compared to March 2017’s sales. However, to be fair, this was expected due to March 2017’s exceptionally strong month so while 134 closed sales are disappointing they are certainly respectable when compared to previous month’s since the recession.

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

  • March’s closed sales were 29% lower than March 2017 but 17.5% higher than last month’s.
  • Our inventory of active listings remains alarmingly low; currently 3% below last year’s which were also historically low.  It is hard to quantify but there is no doubt that low inventory does have a negative impact on Lake Norman’s home sales.
  • After a strong February, as I predicted, we didn’t come close to meeting March 2017’s huge, record-breaking 188 closed sales.
  • What the heck is going on with our waterfront market? Yikes!  (See below)
  • Our trade-up ($600,000 – $999,000) and luxury price ranges were once again weak after a slight uptick last month. The only thing consistent about our higher price ranges is their constant roller coaster ride of ups and downs.

Let’s take a closer look:

Lake Norman Real Estate Home Sales Analysis

All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate's April 2018 Desktop Calendar

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Lake Norman Real Estate’s April 2018 Calendar is Blooming!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2018 Market Report

After a dip in January our Lake Norman real estate market kind of looks like it is back on track posting 60% more closed sales than February 2017. It is important to note, however, that February 2017 was a very weak month so while 112 closed sales is impressive, it is not quite as significant as it appears. There are also some indications in the numbers below that our short term market may struggle to meet last year’s record-breaking sales.

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

  • February closed sales were 60% higher than February 2017 and 13% higher than last month’s.
  • Our inventory of active listings remains alarmingly low; currently 11% below last year’s which were also historically low.  It is hard to quantify but there is no doubt that low inventory does have of a negative impact on home sales.
  • While we had a strong month, I foresee a rocky next couple of months ahead.
  • Our trade-up price ranges $600,000 – $999,000) this month were weak again as a group.  The only thing consistent about this niche is their constant roller coaster ride of ups and downs.
  • Waterfront home sales volume is down quite a bit as is our inventory which could present challenges for this spring.

Let’s take a closer look:

Lake Norman real estate housing report

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman News, Events and Celebrations

Lake Norman Area St. Patrick’s Day Parades Festivals and Celebrations 2018

Lake Norman St. Patrick's Day Celebrations

It turns out that this year this Saturday the 10th is a big day for St. Patrick’s Day celebrations!

Start your St. Patrick’s Day celebrating this Saturday at the 6th annual St. Patrick’s Day parade in Downtown MooresvilleThe March 10 event begins at 3 p.m. and will roll down Main Street from Town Hall to Center Avenue. The parade will feature Grand Marshal Margaret Shannon, a leader within the Irish community in the New York/New Jersey area and, for the past 27 years in the Carolinas.  The parade will also include the Connick School of Irish Dance, Ceol na Gael pipers band led by Frank Keenan, the West Iredell 4-H Club, Acrofitness, the Knight of Columbus, and several pageant queens, including the 2016 Miss Iredell County Agricultural Fair Queen Kristy Leigh Smith, and Miss Teen North Carolina Earth Arianna Alverez. Food vendors will be on hand and area businesses will be offering special goodies for sale to those visiting downtown for the festivities. Some of those include Cyn Tucci’s Bakery, which will have St. Patrick’s Day cookies; Tim’s Table, selling scones; and The Pushcart, offering hot dogs.   Several parade participants, the Connick School of Irish Dance and the Ceol na Gael pipers band, will circle back to the Wells Fargo Bank area, where they will perform for the public. Main Street from Moore Avenue to Center Avenue will remain closed until 4:30 p.m. for those performances.  Parade organizer Esther Murphy said she is eager for people to “experience the Irish culture, enjoy the dancers and the pipers and make some new friends.”

For the 21+ crowd one event always stands out: Galway Hooker’s 16th Annual St. Patrick’s Day Festival. “You can’t get a bigger, better Irish experience anywhere unless you were in Ireland itself! Our Pub was originally located in Ireland, deconstructed and shipped on a huge cargo ship over to the location it sits at now and reconstructed right here in Lake Norman. Step inside and you’ll feel like you just stepped into an authentic Irish Pub, because you did! Get ready for the areas LARGEST block party – our 15th annual St. Patrick’s Day Party! You don’t want to miss this legendary experience: Irish dancers, bagpipers, games, contests, authentic Irish fare, beer-a-plenty, live music and DJ’s throughout the day! There is no where else to be this St. Pat’s but the Hooker!”

But, while Galway Hooker’s may be the largest, there are so many other ways to celebrate, some of which don’t even involve drinking!

Probably the best way to actually celebrate ON Lake Norman would be Queen’s Landing’s St. Patrick’s Day Cruises on Lake Norman.

Or, for a more historic way to celebrate check out the Latta Celtic Festival.   The Latta Celtic Festival runs March 17th & 18th (10am-4pm)  This is it, the event you’ve been waiting all year for, it’s back… The Latta Celtic Festival. For the last six years spectators from near and far have made their way to Historic Latta Plantation in celebration of the Celtic culture James Latta once hailed from. Just in time for St. Patrick’s Day, you can celebrate all things Celtic by enjoying live music, food and beer vendors, arts and crafts vendors, historic Celtic warriors and heritage demonstrations. Children will enjoy story times, dancing, visiting the farm animals and more. This year our Celtic Festival will feature a special Sunday performance by Master Fiddler Jaime Laval.

Looking for celebrations actually on March 17th?

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Lake Norman Real Estate Calendar Photo

Download this month’s Lake Norman calendar here

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Lake Norman Real Estate’s March 2018 Calendar

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2018 Hot Sheet

Lake Norman Hot Sheet Home Sales

I always get excited to do a Hot Sheet analysis because it provides me with a mid-month pulse of our Lake Norman real estate market.  So where are we today? After a sluggish January, it looks like we may have another month of relatively weak closed sales but there are some positive signs for the future. Let’s take a closer look: Continue reading

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Lake Norman real estate desktop calendar for February 2018

Download this month’s Lake Norman calendar here

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Lake Norman Real Estate’s February 2018 Calendar!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2017 4th Quarter Sales by Price Range

If you are a home buyer or seller in the Lake Norman area 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 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 $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 4th Quarter 2017 Home Sales By Price Range

Lake Norman home sales buy price 4th quarter 2017

*Compiled from the Carolina 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.  

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Happy New Year from Lake Norman Real Estate

 

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Lake Norman Real Estate’s January 2018 Calendar

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Lake Norman News, Events and Celebrations

Lake Norman area New Year’s Eve Celebrations 2017/2018

 

Happy New Year from Lake Norman Real Estate

Here is the link to this year’s events! New Year’s Eve Celebrations 2018/2019

 

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 2017 and New Year’s Day 2018. 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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