I usually introduce these market reports with basic numbers about the month. But today, instead, I want to share with you what I feel are the biggest takeaways:
- Lake Norman currently has 42 properties over $1 million under contract.
- Waterfront homes are, for the first time since the recession, in a sellers’ market.
- Our trade-up price ranges from $600,000-$999,999 represented almost 1/4 of our sales.
- Finally, at 1329 closed sales, our first 8 months were the highest first 8 months in Lake Norman’s history, exceeding 2005’s by 6.6%.
In a nutshell, these mean that our waterfront, trade-up and luxury markets may finally be recovering after lagging for years, AND our overall strong sales are no longer erratic but instead impressively consistent in beating prior year’s numbers month after month. While there is no guarantee that these will continue long term, they are still tremendous accomplishments for our Lake Norman real estate market.
Let’s take a closer look:
* All data is from the Carolina Multiple Listing Service.