Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2020 Sales by Price Range

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

*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.

Our Lake Norman real estate market has been in a seller’s market for about a year and this trend continued into the first quarter of 2020. While the impact of the Covid-19 Virus on our housing market going forward is hard to predict, no matter what type of market we are experiencing 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. You can use this chart to find fascinating sub-trends within our Lake Norman housing market which can serve as a great tool in assisting you in your buying or selling strategies.

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COVID-19 and the Lake Norman Real Estate Market

 

 

Many are asking the question, how is COVID-19 affecting the Lake Norman real estate market? To get a clear picture, we’ll need to wait for the final sales numbers for March 2020, but in the meantime, one indicator to take note of is buyer activity.  Through analyzing data from showing reports, we can see the numbers of active buyers per price point in the Lake Norman real estate market.

It is no surprise in the wake of the coronavirus, total showings went down this past week compared to the previous week, but we are still seeing a large amount of showing activity week over week with 2408 showings in the past 7 days.  The price points from $250,000 to $400,000 have the largest percentage of the showings.  This is partially due to higher inventory in those price points, with significantly fewer options under $250,000.   We’re keeping a close eye on all Lake Norman real estate trends, and we will keep you posted as we learn more. Stay well and stay tuned!

Week of 3/10/20 to 3/17/20 Showing Report = 2408 Total Showings

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