2014 turned out to be a very positive year for our Lake Norman real estate market. A 7.9% increase in the number of single family home sales over 2013 is a stronger showing than the national home sales. But what is really impressive is the fact that we actually exceeded all prior years back to and including 2007!
Here are some interesting charts that break down the data for you:
Single Family Home Sales by Year 2005 – 2014
2014 Sales by Month
As I have said in my monthly sales analysis, 2014’s success was due to a number of strong months rather than just one stellar month as was the case in 2013. After our weak first quarter which may partially be attributed to the bad weather throughout the country, Lake Norman posted strong closed sales for the rest of the year. With the exception of November our 4th quarter stands out as the move impressive compared to prior years.
2014 Price Ranges Percent to Total Sales
2013 Price Ranges Percent to Total Sales
As you can see, Lake Norman saw a slight improvement in our higher price ranges in 2014 and a slight drop in our entry level price-range.
In my next posts I will share numbers about our waterfront, distressed and new construction home sales in 2014. Stay tuned!