Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2019 Market Report

Lake Norman real estate market report

All data is from the Carolina Multiple Listing Service.

With two months in the books, our Lake Norman’s real estate market has posted strong sales in 2019 and there are some very positive indicators for March and April.  This follows on the heels of a very a rough end to 2018. Our February sales were up 4% compared to last year. At 118 sales, February was also up 18% compared to last month and was the highest February 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 February’s Lake Norman real estate sales data:

  • Our Lake Norman home sales so far in 2019 are 3.3% above the same period in 2018. That said, average prices are lower across the board and 75% of our sales in February were under $600,000
  • Our inventory of active listings is even lower than last year’s. (26 fewer than last year). Every single month for several years we have seen a decline in active listings. It is hard to quantify but there is no doubt that our low inventory has had a negative impact on our Lake Norman’s home sales.
  • Our newest contracts (UCS) are UP 12% and pending sales (UCNS) are up 19% which further substantiates that our Lake Norman real estate market is strong and stable going into late winter and early spring.
  • Waterfront homes remain in a buyer’s market and the under contract numbers indicate sales in this niche will be weak for at least the next few months.
  • Is new construction taking on an increasing share of our market?  They are now 39% of our new contracts!
  • Right now more homes are selling and in must fewer days but our average prices are well below last year’s.

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 Lake Norman Real Estate's February 2019 Calendar

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Lake Norman photos

Lake Norman Real Estate’s February 2019 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 Real Estate Market Reports

Lake Norman Real Estate’s October 2017 Hot Sheet

Lake Norman Hot Sheet Home Sales

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market.  So where are we today?  After a stunning March, strong April & May, record-breaking June, strong July & August and record-breaking September, it looks like this hot trend is cooling off a bit along with our weather. Let’s take a closer look:

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Lake Norman Aerial photo calendar

Download this month’s Lake Norman calendar here

How cool is this photo?  Simple breathtaking! I recently discovered Legacy Biplane Rides  when I happened upon one of their aerial photos of Lake Norman. So, I reached out to the owner, Brian Rosenstein <brian@legacybiplane.com> and he generously shared this amazing photo with me for my Lake Norman Real Estate’s August calendar.  I can’t describe his services better than he does on their website:

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Lake Norman photos

Lake Norman Real Estate’s August 2017 Calendar!

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