If you are a regular reader of my Lake Norman Real Estate blog, you are familiar with my numerous, comprehensive monthly and quarterly market reports. Obviously, I love numbers. I even have a T-Shirt I won that says “Data Geek” on it! But not all home buyers or sellers want detailed spread sheets so I thought I would add a new feature to this blog: easy to understand pie charts and graphs of the more general sales trends.
Lake Norman Single Family Home Sales by Month
The chart above represents the average home sales by month for the past 10 years. As you can see, historically June represents our highest sales and January and February are tied for the lowest sales. We see a significant increase by April and a fairly significant slowdown by September. 54.4% of Lake Norman’s annual sales are from April through August.
Lake Norman Single Family Home Sales by Year
Above are the total Lake Norman single family home sales by year since 2005. So far in 2014 we are trending about equal to 2013 but we might end the year slightly higher. While we are not back to 2005’s peak we are close to matching 2007 which was when we began our recession slowdown.
Lake Norman Single Family Home Sales Compared to Waterfront Home Sales by Year
This chart allows you to see our total single family home sales by year compared to our waterfront home sales by year. Please note that for this year I put in our year-to-date number as of today which is 303 but we still have 3 months left in 2014 so we might end up the year about equal to 2013.
Lake Norman Month’s Supply of Inventory 2013 vs 2014
Above is a comparison of the months of supply of active listings in Lake Norman comparing 2013 (our best year since the recession) to year-to-date- this year. Keep in mind that economists commonly use 6-8 months of inventory as a balanced housing market. Therefore, any months that we fell below 6 we are/were in a buyers’ market and any months above 8 we were/are in a seller’s market. Overall in 2013 our improved sales occurred before a ramp up in our active listings which resulted in much lower months of supply. A combination of bad winter weather early this year coupled with more properties being listed in reaction to 2013’s strong sales put Lake Norman clearly in a sellers market until this past May. Since then we have been either in a Buyers’ market or a balanced market.
Suggestions for more data for our Lake Norman real estate market? Leave them in the comments section and I will do my best to provide you any and all possible.