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Lake Norman Region Market Report for August 2020

All data is from the Canopy/Carolina Multiple Listing Service.

August closings decreased in comparison to the record-breaking months of June and July.  This was anticipated as these peak summer months also included the pent-up demand and delayed sales from COVID closures.  We saw a decrease of 25% of units sold, going from 288 homes sold in July to 216 homes sold in August.  There was also a slight decrease year over year as well, as August 2019 finished with 238 closed homes, resulting in a 9% decrease in August 2020.  However, this could be attributed to the 59% decrease in available inventory, which continues to keep the market lively.  As there is limited supply for the strong demand that we have in the Lake Norman area, a decrease year over year is to be expected.

Homes under contract were quite a different story!  We saw a 37% increase in new pending sales representing 423 properties when UCS and UCNS are combined.  Additionally, the combined average prices for the homes under contract saw a positive increase as well, with a strong 17.8%!  The average price for homes sold year over year also increased by an astounding 22%.  We’ll be watching closely in the months to come to see if that appreciation level remains steady.  As with home sales, it is also likely to slow as we head into the third quarter of the year.  However, with a typical appreciation being around 6%, anything higher in our current climate happily exceeds our expectations.

Here are some interesting facts for active homes in August 2020:

  • 121 of the active homes are new construction, 38% of the active listings
  • 97 of the active homes are waterfront, 31% of the active listings
  • The average year built is 2007
  • 157 of the active listings are in Mooresville at Lake Norman, right at half of the available inventory
  • 50 of the 157 for Mooresville were in Atwater Landing (new construction), making it the community with the most available homes for August (was same for July)
  • Denver has the second largest inventory with 67 single-family homes, followed by Cornelius with 40 homes available
  • The average square footage of heated living space is 3628

And some interesting facts for the homes under contract for August 2020 (note – prices are based on the listing price as the sales price is undisclosed until sold):

  • The average price of all pending homes (under contract show and no show) is $661,427
  • The average price of the combined median prices of all pending homes (under contract show and no show) is $487,288
  • 137 of the homes under contract are new construction, 32% of the pending sales (an increase of 3% from the previous month)
  • 108 of the homes under contract are waterfront, 25.5% of the pending sales
  • The average year built for homes that are under contract no show is 1991. In comparison the average year built for homes under contract show is 2004.
  • The average lots size is .67 acres
  • The average square footage of heated living space is 3278 (remarkably only 1 sq. ft. off from July)

Finally, here are some facts for the homes that sold in August 2020:

  • The average listings price of homes sold was $675,188 (sold price $659849)
  • The listing price to sales price ratio was just over 97.7%
  • Only 28 of the homes sold were new construction, 13% of the homes sold
  • 58 of the homes sold were waterfront, 27% of the homes sold
  • The average year built was 1992, which is older than in previous months. This will be interesting to see if this continues.  Has buyer demand increase for the resale market or older homes?  Are sellers investing more in upgrades on older homes?  More to come on this…
  • 101 of the homes sold were in Mooresville, 47% of the market
  • The average lots size was .82 acres. This makes sense with the average year built as older homes typically offer larger lot sizes.
  • The average square footage of heated living space was 3310

Other information:

  • Across all reports, it appears that the average home size for active, under contract and sold is above 3200 Sq. Ft. This push toward larger homes could be a result of more living space needed as people work from home, homeschool, and generally are spending more time at home.

For those of you following along, the total number of Lake Norman homes under contract (UCS + UCNS) at the end of the first week of each month are as follows:

  • September 8, 2020: 423
  • August 10, 2020: 463
  • July 7, 2020: 489
  • June 11, 2020: 471
  • May 8, 2020: 319
  • April 8, 2020: 288
  • March 6, 2020: 341
  • February 8, 2020: 287
  • January 6, 2020: 213
  • December 8, 2019: 246
  • November 8, 2019: 310
  • October 8, 2019: 335
  • September 8, 2019: 378
  • August 8, 2019: 362
  • July 8, 2019: 355
  • June 9, 2019 383
  • May 9, 2019: 386
  • April 9, 2019: 363
  • March 10, 2019: 318
  • February 8, 2019: 268
  • January 6, 2019: 225
  • December 6, 2018: 251
  • November 8, 2018: 255
  • October 8, 2018: 281
  • September 8, 2018: 310
  • August 8, 2018: 347
  • July 8, 2018: 345
  • June 8, 2018: 406
  • May 8, 2018: 389
  • April 8, 2018: 334
  • March 8, 2018: 280
  • February 8, 2018: 244
  • January 8, 2018: 206
  • December 8, 2017: 264

 CLOSED HISTORICAL SALES FOR LAKE NORMAN REAL ESTATE

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Lake Norman Region Market Report for June 2020

Record-breaking home sales for June 2020!

June 2020 Lake Norman Real Estate

All data is from the Canopy/Carolina Multiple Listing Service.

We knew June was going to be a fabulous month for real estate sales in the Lake Norman region, but we had no idea we would set a record!  With 253 closed sales for June of 2020, this is our largest number of single-family homes sold since we started tracking the monthly sales in 2005.  This is not just a record for June but a record for all months for the last 15 years! You can see this data in the chart a little later.

With a 45% decrease in active listings, we can only imagine how well our region would have done with more listings.  There is a significant difference between the median price and average price of active inventory.  This is due to a large number of homes on the market over $1,000,000.  To be exact, 100 of the 417 active listings were over $1,000,000; nearly 25% of the market.

The numbers continue to be outstanding as we look at homes under contract for June.  There were 367 homes ‘under contract show’ and 122 homes ‘under contract no show’, totaling 489 homes pending in total.  That exceeds the amount of current inventory, which would suggest that our housing shortage is going to continue to worsen.  Sellers on the fence about selling this summer may want to reconsider.  This is absolutely a STRONG sellers-market on all fronts.  If that doesn’t make sellers want to consider putting their home on the market then they may also want to make note of the tremendous increase in the average prices for the homes under contract.  The average of both ‘under contract show’ and ‘under contract now show’ is 22%!  WOW!  Now the question is, how long with this continue?

Here are some interesting facts for active homes in June 2020:

  • 133 of the active homes are new construction, 32% of the active listings
  • 150 of the active homes are waterfront, 36% of the active listings
  • 20 active homes are both new construction AND waterfront
  • The average year built is 2000
  • 202 of the active listings are in Mooresville at Lake Norman, close to half

And some interesting facts for the homes under contract for June 2020:

  • 139 of the homes under contract are new construction, 28% of the pending sales
  • 129 of the homes under contract are waterfront, 26% of the pending sales
  • The average year built is 2001
  • 252 of the homes under contract are in Mooresville at Lake Norman, 52% of the market

Finally, here are some facts for the homes that sold in June 2020:

  • 55 of the homes were new construction, 22% of homes sold
  • 56 of the homes were waterfront, 22% of homes sold
  • The average year built was 2004
  • The average seller concessions were $2,344
  • 127 of the homes sold had NO seller concessions, right at half
  • The average list price to sales price ratio was 97.6%
  • While the average sold price was $561,450, the average listing price for those that sold was $578,955

For those of you following along, the total number of Lake Norman homes under contract (UCS + UCNS) at the end of the first week of each month are as follows:

  • July 7, 2020: 489
  • June 11, 2020: 471
  • May 8, 2020: 319
  • April 8, 2020: 288
  • March 6, 2020: 341
  • February 8, 2020: 287
  • January 6, 2020: 213
  • December 8, 2019: 246
  • November 8, 2019: 310
  • October 8, 2019: 335
  • September 8, 2019: 378
  • August 8, 2019: 362
  • July 8, 2019: 355
  • June 9, 2019: 383
  • May 9, 2019: 386
  • April 9, 2019: 363
  • March 10, 2019: 318
  • February 8, 2019: 268
  • January 6, 2019: 225
  • December 6, 2018: 251
  • November 8, 2018: 255
  • October 8, 2018: 281
  • September 8, 2018: 310
  • August 8, 2018: 347
  • July 8, 2018: 345
  • June 8, 2018: 406
  • May 8, 2018: 389
  • April 8, 2018: 334
  • March 8, 2018: 280
  • February 8, 2018: 244
  • January 8, 2018: 206
  • December 8, 2017: 264

 CLOSED HISTORICAL SALES FOR LAKE NORMAN REAL ESTATE

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Lake Norman Real Estate Market Report April 2020

 

All data is from the Canopy/Carolina Multiple Listing Service.

The final April numbers are in, and as expected due to the COVID-19 restrictions, listings, contracts, and sales are down year over year for April.  However, we have already seen market improvements and we’re optimistic we’ll see continued growth in May.  Overall, as predicted (and hoped) it appears our strong traditional Spring market at Lake Norman will eventually fully blossom, and this is a temporary delay due to the pandemic. To help us stay in sync with these unusual times, we have been tracking stats daily on our parent website at https://www.lakenormanrealty.com/covid-19-market-updates/ which offers additional insights and details into the Lake Norman market.

In the first weeks into April, we saw a dramatic decline of nearly 50% in all categories when compared to the same time last year.  However, the downward trend turned around and shifted upwards mid-April, and by the end of the month, the numbers fared much better leaving April 2020 with a 22% drop in new contracts, and a 9% drop in closed sales.  We anticipate this rebound will continue into May and beyond as COVID-19 restrictions are lifted here and elsewhere in the country.

Showings in April were down considerably as expected due to the Stay at Home Orders.  “Virtual Showings” became the norm in April, but as this was a new method, these virtual showings were rarely logged into the system-wide showing service.  This resulted in only 5439 showings logged into the system vs 12,593 in last April.

Home values are remaining firm, primarily due to the lack of inventory.  Multiple offers continue, particularly in the lower price points, but have been seen in all price ranges.  April 2020’s ratio for list price vs sales price was 98%.  Of the 162 closings for April, 81 of those had some sort of seller contribution averaging $4,164 given back toward closing costs or some other expense on behalf of the buyer.  The average year built of homes sold was 2007.

Our active listings were reduced by 25% in an already tight market with slim inventory and high demand.  With the decrease in listings, this supply and demand will remain an issue for buyers that desire to move into the Lake Norman area.  Of the 567 homes available, 284 of them were in Mooresville, making up half of all available inventory.  In addition, the average year built was 2001.

Let’s take a closer look at some property specifics for the closed homes in April:

  • Waterfront
    • There were 29 Waterfront homes that closed this month, 18% of the market
    • The average price of waterfront closed homes was $972,241
    • The prices ranged from $280,000 to $1,875,000
    • The cumulative days on market for waterfront homes was 98
  • New Construction
    • 43 of the homes closed were new construction, 26.5% of the market
    • The average price of new construction closings was $365,060
    • The average list price to sales price was 100%
    • The price range for closed new construction homes was $209,900 to $777,000
    • 25 of the homes were in Mooresville, 15% of the homes sold
    • The cumulative days on the market was 121

The total number of Lake Norman homes under contract (UCS + UCNS) at the end of the first week of each month are as follows:

  • May 8, 2020: 319
  • April 8, 2020: 288
  • March 6, 2020: 341
  • February 8, 2020: 287
  • January 6, 2020: 213
  • December 8, 2019: 246
  • November 8, 2019: 310
  • October 8, 2019: 335
  • September 8, 2019: 378
  • August 8, 2019: 362
  • July 8, 2019: 355
  • June 9, 2019 383
  • May 9, 2019: 386
  • April 9, 2019: 363
  • March 10, 2019: 318
  • February 8, 2019: 268
  • January 6, 2019: 225
  • December 6, 2018: 251
  • November 8, 2018: 255
  • October 8, 2018: 281
  • September 8, 2018: 310
  • August 8, 2018: 347
  • July 8, 2018: 345
  • June 8, 2018: 406
  • May 8, 2018: 389
  • April 8, 2018: 334
  • March 8, 2018: 280
  • February 8, 2018: 244
  • January 8, 2018: 206
  • December 8, 2017: 264

CLOSED HISTORICAL SALES FOR LAKE NORMAN REAL ESTATE

If you are interested in specific market information for your neighborhood or would like to know your personal house value, just email info@lakenormanrealty.com with your question and we’ll be happy to help!

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Lake Norman Region Market Report for March 2020

Lake Norman Real Estate's March 2020 Market Report

*All data is compiled from the Canopy/Carolina Multiple Listing Service.

As anticipated, the Lake Norman market reports for March 2020 demonstrate the initial effects of COVID-19 on the real estate market.  Across the charts, we saw a decrease in each category except for sold homes, as these were a result of prior contracts before the onset of the COVID-19 shutdown.  Active listings continue to be limited, although low inventory has been a market factor for many months. March 2020 saw a significant decrease in homes under contract, with a 22%-24% decline in contracts and due to the COVID-19 Stay at Home Orders, we anticipate seeing additional market decline for April. However, we remain positive on the Lake Norman real estate market and firmly believe this slowdown is only a temporary pause on the traditional Spring market, which should resume to expected levels once the current crisis has passed.

In reviewing the March/April time period since 2018, there has been an increase in contracts during this time with the exception of this current year, as you can see in bold below:

This list is the total number of Lake Norman homes under contract (UCS + UCNS) at the end of the first week of each month:

  • April 8, 2020: 288
  • March 6, 2020: 341
  • February 8, 2020: 287
  • January 6, 2020: 213
  • December 8, 2019: 246
  • November 8, 2019: 310
  • October 8, 2019: 335
  • September 8, 2019: 378
  • August 8, 2019: 362
  • July 8, 2019: 355
  • June 9, 2019: 383
  • May 9, 2019: 386
  • April 9, 2019: 363
  • March 10, 2019: 318
  • February 8, 2019: 268
  • January 6, 2019: 225
  • December 6, 2018: 251
  • November 8, 2018: 255
  • October 8, 2018: 281
  • September 8, 2018: 310
  • August 8, 2018: 347
  • July 8, 2018: 345
  • June 8, 2018: 406
  • May 8, 2018: 389
  • April 8, 2018: 334
  • March 8, 2018: 280
  • February 8, 2018: 244
  • January 8, 2018: 206
  • December 8, 2017: 264

Next, let’s take a closer look at some property specifics:

  • 146 of the active homes are new construction, making up 26% of the total homes available
  • 211 of the active homes were waterfront, making up 38% of the total homes available
  • 81 homes came off the market (expired, withdrawn, or temporarily removed)
  • Of the 288 homes under contract, 144 of them were new contracts in March
  • 103 of the homes UCS were in Mooresville, over half of all contracts
  • 40 of the 84 homes UCNS were also in Mooresville
  • 43 of the 84 homes UCNS were new construction
  • Only 71 of the 204 homes UCS were new construction

With the onset of COVID-19 affecting our area in March, we began tracking the market daily to get a better idea of what was happening with our Lake Norman market.  As expected, showings in our area declined, and then dropped drastically due primarily to the stricter stay-at-home order that went into effect for Mecklenburg County on March 24th.

This report is updated daily and can be viewed here for the most up-to-date information.

CLOSED HISTORICAL SALES FOR LAKE NORMAN REAL ESTATE

Lake Norman home sales by month and years 2005 - 2020

* Please note that all of my numbers are for single family homes in what used to be referred to as “Area 13 – Lake Norman. They come from the Canopy/Carolina Multiple Listing Service and will not include sales that took place outside of our MLS.** I adjust past months when I do the monthly update as a few more sales are usually input late by agents. ***Our MLS just merged with many others over the past several years so all of the total sales numbers have changed slightly.  I did update the entire 2017 year so that the past two years’ numbers will be comparing apples to apples. However, I am not going to go back to prior years and adjust.

I love being able to see this overview which puts our current sales in context with prior years and provides monthly trends to help better understand Lake Norman’s seasonal trends, peaks and valleys.

Let us know if you would like specific market information on your neighborhood or your personal house value. Just email info@lakenormanrealty.com with your question and we’ll be happy to help!

We’ll be posting our 2020 First Quarter Lake Norman Market Report in May with detailed breakdowns of our Lake Norman real estate market. Until then, stay well, stay safe, and enjoy this beautiful Spring at Lake Norman!

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Lake Norman Real Estate’s 4th Quarter 2019 Sales by Price Range

4th Quarter 2019 Lake Norman Home Sales by Price Range

*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.

Despite a downturn in the last few months, Lake Norman’s overall real estate market in the 4th quarter of 2019 remained very much in a seller’s market. However, there were some fascinating sub-trends within price-ranges in the past 3 months as you can see above. 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.

If you are a home buyer or seller in the Lake Norman area it matters most what is happening in YOUR price-range. Yes, it is important to know about the global, national, and Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. And, if you are considering a broader range of prices, this chart can help you develop a more effective strategy by narrowing your search based upon actual strengths and weaknesses within our Lake Norman price-ranges.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2019 Market Report

Lake Norman real estate market report

All data is from the Carolina Multiple Listing Service.

At first glance our Lake Norman home sales for September look remarkable: a 20% increase over last year’s. But I encourage you to never take any real estate numbers out of context as they are pretty meaningless by themselves. What you need to know about this past September’s 20% increase is that we were up against an unusually low number of sales in September 2018. So, the whole picture includes the fact that our 170 sales still puts us below September of 2017, 2016 and 2005. We also dropped 19% from last month’s sales. Okay, our sales weren’t exactly stellar after all.  But, there is actually a lot of good in my comprehensive report below which bodes well for our last quarter and will provide deeper insight into where we are headed as well as details regarding this month’s sales.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2019 Market Report

Lake Norman Real Estate Market Report August 2019

All data is from the Carolina Multiple Listing Service.

We knew we were up against some huge sales numbers for last August so it came as no surprise that our Lake Norman home sales in August ended up 14% below August 2018’s. On the plus side our August sales were 9% higher than last month’s. August was the 3rd consecutive month that our Lake Norman home sales fell below last year’s. After a great start to 2019 we have definitely experienced a softening of our housing market. We are now just 2 sales higher than the first 8 months of 2018.  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 August’s Lake Norman real estate sales data:

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Lake Norman Real Estate Market Reports

Lake Norman’s 2nd Quarter 2019 Home Sales by Price Range

Lake Norman real estate's 2nd quarter 2019 home sales by price

*Compiled from the Carolina 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.

Lake Norman’s overall real estate market in the 2nd quarter of this year continued our strong pace that began in January, (With the exception of June.) However, there were some fascinating sub-trends within price-ranges in the past 3 months as you can see in above chart. 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.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2017 Hot Sheet is Here!

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, and stunning May it looks like this trend is continuing in June and beyond. Let’s take a closer look:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2017 Market Report: WOW!

My May numbers, both closed sales and new contracts, indicate that our Lake Norman real estate market is still very much in a consistent streak of very strong activity.  197 closed sales is the best month this year and the 5th highest monthly sales in all of Lake Norman since 2005!  As you can see below, our  2017 May sales were 31% higher than last May’s. And, our combined total of under contract properties is 7.6% higher than last year’s. Let’s take a closer look:

Lake Norman real estate market report May 2017

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 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, I see mixed messages from the numbers below. Let’s take a closer look:

Lake Norman Real Estate’s April 2016 Two-Week Hot Sheet

Lake Norman Hot Sheet Market Report April 2017

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (April 8th – 22nd).  As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the April chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2017 Market Report by Price Range: Great Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $900,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 1st Quarter 2017 Home Sales By Price Range

Lake Norman Real Estate's Market Report by Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2017 Market Report is Jaw Dropping!

Wow, Lake Norman’s  real estate market has seriously been taking us on a roller coaster ride in 2017.  January home sales were up 30%, February home sales were down 34% and now this! Our March home sales were up a HUGE 73% compared to last March and it was’t just the best March ever by a long shot,  but was the 5th highest monthly sales in 12 years! Now we need to get into the details to find out exactly what contributed to this amazing month. Let’s take a closer look:

Lake Norman Market Report for March 2017

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2017 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below actually confirm my concerns when I wrote my January market report. There are some positives but our actual closed and pending sales indicate that our closed sales in February will struggle to meet last year’s.  Let’s take a closer look:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2017 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below actually make me a bit nervous for the first time in months. There are some positives but our actual closed and pending sales indicate that our closed sales in January will struggle to meet last year’s.  Let’s take a closer look:

Lake Norman Real Estate’s January 2016 Two-Week Hot Sheet

Lake Norman real estate hot sheet market report

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (January 7th – 21st.  As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the January chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 4th Quarter 2016 Price Range Analysis: Great Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 4th Quarter 2016 Home Sales By Price Range

LLake Norman home sales by price range for 4th Quarter 2016

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  

How to read this report:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2016 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below definitely indicate that our unusually heated pace of sales has slowed down to about the same as last year’s in the past two weeks. That said, we are well on our way to logging another strong month of sales to end the year on a high note. Let’s take a closer look:

Lake Norman Real Estate’s December 2016 Two-Week Hot Sheet

Lake Norman Market Report Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (December 7th – 21st.  As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the December chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2016 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below seem to indicate that while the pace is slowing just a bit which is expected at this time of year, it looks like we are well on our way to logging another strong month of sales. Let’s take a closer look:

Lake Norman Real Estate’s November 2016 Two-Week Hot Sheet

Lake Norman Real Estate Hot Sheet home sales chart

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (November 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the November chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2016 Market Report:

Lake Norman’s overall real estate market is still extremely active despite entering into our seasonally slower months. 4 of the past 5 months have beaten the same months in 2015 and 3 of the 4 by double digits! In October we closed 17% more home sales than last October and based upon our new contracts it looks like this momentum is going to continue throughout the next several months at least. Mercurial has been emphatically replaced by momentum as my favorite adjective to describe our current Lake Norman real estate market.  Let’s take a closer look:

Lake Norman Market Report October 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2016 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below seem to indicate that while the pace is slowing which is expected at this time of year, we are still looking very strong compared to all prior Septembers. Let’s take a closer look:

Lake Norman Real Estate’s October 2016 Two-Week Hot Sheet

Lake Norman October Hot Sheet 2016

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (October 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the September chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2016 Market Report is Here!

Wow, I think Lake Norman’s real estate market is officially on a roll after a rather up and down first half of 2016.  Now 3 of the past 4 months have been record breaking and based upon our new contracts it looks like this momentum is going to continue throughout the next several months at least! Following an impressive 18% increase last month (compared to August 2015) we have already logged in 171 sales for September for a 13% increase over September 2015.  This is the highest number of single family home sales in the month of September since 2005 and when stragglers come in we may even beat that number! Mercurial has been replaced by momentum as my favorite adjective to describe our current Lake Norman real estate market.  Let’s take a closer look:

Lake Norman Real Estate Market Report September 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2016 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below seem to indicate that while the pace is slowing which is expected at this time of year, we are still looking very strong compared to all prior Septembers. Let’s take a closer look:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2016 Hot Sheet is Here!

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 the mid-month pulse of our Lake Norman real estate market.  So where are we today?  The numbers below give us a bit of a mixed message for this month but seem to support the up and down trend we have seen so far in 2016.  Sound familiar? Let’s take a closer look:

Lake Norman Real Estate’s August 2016 Two-Week Hot Sheet

Lake Norman Hot Sheet Market Report for August 2016

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (August 8th – 22st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the July chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2016 Market Report: The Roller Coaster Continues!

Mercurial is the word that comes to mind when describing our 2016 Lake Norman real estate market.   After being teased with strong “under contract” and pending sales statistics but disappointing closed sales numbers all spring, it all turned around in June with a record high 210 closed sales only to suffer a 12% drop in closed sales in July! Once again we have record high numbers of properties “under contract” but when will they translate into closed sales? Let’s take a closer look:

Lake Norman Real Estate's Sales Analysis for July 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2016 Hot Sheet is Here!

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?  The numbers below give us a bit of a mixed message for this month but some positive signs for the next few months thereafter.  Sound familiar? Let’s take a closer look:

Lake Norman Real Estate’s July 2016 Two-Week Hot Sheet

Lake Norman 2-week Hot Sheet Market Report

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (July 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the July chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter Price Range Analysis: Great Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 2nd Quarter 2015 Home Sales By Price Range

Lake Norman home sales by price range in the 2nd quarter 2016

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2016 Hot Sheet is Here!

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?  From these numbers it appears that we may have strong closings this month but there are signs of a slowdown on the horizon. Let’s take a closer look:

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2016 Hot Sheet is Here!

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? The numbers below prove just how HOT our market is right now and the momentum that we saw last month is continuing after the dip in closed sales in March. Let’s take a closer look:

Lake Norman Real Estate’s May 2016 Two-Week Hot Sheet

Lake Norman home sales hot sheet chart for May

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (May 8th – 22nd . As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the April chart using my data since 2009.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2016 Market Report: Interesting Trends Emerging!

So, the good news is that Lake Norman’s deplorable March closed sales does appear to have been a one-month aberration of what has otherwise been a pretty good year.  Last month I wrote “I am positive this dip is short lived because we currently have 297 homes under contract compared to last year’s 272. Clearly we are now on a terror! ” I think it is fair to say that still holds true and then some.  Let’s take a closer look:

Lake Norman Real Estate Market Report for April 2016

* All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2016 Hot Sheet is Here!

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? The numbers below prove just how HOT our market is right now and the momentum that we saw last month is continuing after the dip in closed sales in March. Let’s take a closer look:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2016 Market Report by Price Range: Great tool!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 1st Quarter 2016 Home Sales By Price Range

Lake Norman home sales by price range 2016

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  Please note that these numbers are actually from the 15th of January to to the 15th of April so they will differ slightly from my monthly market reports. 

How to read this report:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2016 Market Report: Sales Dip Sharply

So, we saw it coming in my mid-month hot sheet analysis, but the closed sales numbers for this March compared to March 2015’s were down right abysmal as -29%. That said, it is important to consider the fact that last March Lake Norman posted exceptionally high closed home sales. This year’s March numbers are as much about the huge sales we are up against as they are about the fact that we experienced a dip in momentum in late January/February resulting in lower March closed sales.  I am positive this dip is short lived because we currently have 297 homes under contract compared to last year’s 272. Clearly we are now on a terror!  Let’s take a closer look:

Lake Norman Real Estate March 2016 Home Sales Analysis

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2016 Market Report: So Far So Good!

To be perfectly honest, after such a great 2015 when we logged a healthy 7.3% increase over 2014,  I had some concerns about this year particularly given our extremely low inventory of active listings.  So far, however, these concerns have been unfounded.  After a positive January,  we were again in positive territory in February with a respectable 9% increase over February 2015 closed sales. In fact, this February we posted the strongest February since 2007.  But where are we trending for the next few months?  Let’s take a closer look:

Lake Norman Market Report February 2016

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2016 Hot Sheet is Here!

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.

After a solid January, this 2-week snapshot of our Lake Norman real estate activity when compared to the past 6 months and past 6 February’s isn’t as impressive but rather indicates that at the moment we are merely maintaining the status quo.  Let’s take a closer look:

Lake Norman Real Estate’s February 2016 Two-Week Hot Sheet

Lake Norman Real Estate Hot Sheet for February 2016

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (February 8th – 22nd). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the February chart using my data since 2010.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2016 Market Report is Here!

While never in agreement, most economists and pundits do seem to conclude that 2016 will see only modest gains in the US housing market.  Here in Lake Norman, after booking a healthy 7.3% increase in home sales in 2015 over 2014, we have launched 2016 with a solid 10%+ gain over last January and logged the best January sales since 2007. This is doubly impressive given our continued extremely low inventory of active listings.  But where are we trending for the next few months?  Let’s take a closer look:

Lake Norman Real Estate's January 2016 Market Report

* All data is from the Carolina Multiple Listing Service.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2016 Hot Sheet: Good News!

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.

So here we are starting a new year and and its as if someone just flipped a switch. We are only 21 days into 2016 and there is already concrete evidence that the Lake Norman real estate market is heating up quickly after a relatively soft 4th quarter. This is why I love these middle-of-the-month hot sheet reports, because they provide a great indication of where our market is trending, putting today’s hot sheet numbers in perspective not just with the past 6 months but all Januarys’ back to 2009.

Lake Norman Real Estate’s January 2016 Two-Week Hot Sheet

Lake Norman Hot Sheet home sales January 2016

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (January 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the January chart using my data since 2009.

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lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman’s 4th Quarter Market Report by Price Range: Great Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 4th Quarter 2015 Home Sales By Price Range

Lake Norman Home Sales by Price Range 4th Quarter 2015

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  Please note that these numbers are actually from the 15th of October to to the 15th of January so they will differ slightly from my monthly market reports. 

How to read this report:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2015 Market Report

Our Lake Norman home sales in December, while 6% below last year’s, were actually the highest monthly sales of our fourth quarter 2015 and the second best December since 2006. After an impressive first 9 months in 2015, our last three months just couldn’t match 2014’s exceptionally strong fourth quarter.  That said, given that our inventory of active listings is still insanely low (9% below last year’s), it is actually impressive that we logged as many sales as we did.  And, for the year, our 2015 closed single family home sales ended up 7.3% higher than 2014’s!  After 9 straight months of  beating the 2014 sales, October broke our winning streak but not enough to take away our annual sales increase.  Let’s take a closer look:

Lake Norman Real Estate's Market Report December 2015

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2015 Hot Sheet is Here!

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.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2015 Market Report

For only the second month this year our Lake Norman home sales fell short of the same month in 2014.  While not nearly as dramatic a decline as last month’s, as of today our closed sales are 6% below last November’s. Lake Norman is not alone in our fourth quarter slowdown as nationally sales have been slipping as well. Also worth noting: our 4th quarter 2014 was unusually strong (see the annual sales chart below) which makes this year’s numbers look even worse. Unfortunately, based on our pending sales, it is very doubtful that we will match December 2014’s close sales. Our inventory of active listings is still insanely low (9% below last year’s) which is and will continue to drag down our sales. Want some good news?  Our year-to-date 2015 closed single family home sales are still 8.3% higher than 2014’s!  After 9 straight months of  beating the 2014 sales, October broke our winning streak but not enough to take away our annual sales increase.  Let’s take a closer look:    

Lake Norman real estate market report November 2015

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2015 Hot Sheet: Recovering?

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.

After being beaten up in October, our Lake Norman real estate market appears to be regaining some of it’s momentum. Historically, November is not a dynamic month for our Lake Norman housing market.  Since 2005 only 3 November total closed home sales exceeded October’s. My numbers in our October market report showed a huge drop in closed sales for the month compared to 2014 but also some optimism in the new contracts opened in the Lake Norman area.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2015 Market Report: An Anomaly?

So a month ago I wrote:  “October is really going to be ugly“.  Unfortunately, it was.  Sales were down 36% compared to October 2014 and 28.7% from last month. Because we had exceptionally strong home sales in October 2014, October 2015 looks REALLY bad however we actually logged in some respectable numbers when you look at Lake Norman’s October sales historically. (See annual sales chart below) . Our inventory of active listings is insanely low (10% below last year’s) which will also serve as another challenge to the rest of 2015 sales. If there is a silver lining  it is that after October, our sales in 2014 dropped significantly so there is a chance we can pull out ahead of  last year again in November and December. And, our year-to-date 2015 closed single family home sales are still 9% higher than 2014’s.  After 9 straight months of increases over 2014, October broke our winning streak.  However, things just may pick up based upon the numbers below. Let’s take a closer look:    

Lake Norman Market Report for October 2015

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2015 Hot Sheet is Here!

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.

Historically, October is not a dynamic month for our Lake Norman housing market.  Since 2005 only 2 October total closed home sales totals exceeded September’s but unfortunately one was last October which happened to be the second highest sales month in all of 2014. My last few market reports revealed a slowing in our sales and overall activity and I even predicted that we were not going to match last October’s strong home sales in our Lake Norman area.  As of today we have 57 total closed sales since the first of October compared to last month’s 72, August’s 83 and 95 closed sales at the same time in July. As you can see below, we had the second highest 2-week hot sheet closed sales totals of all previous Octobers but significantly lower than the past two months 4 months of 2015. We currently have 216 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman compared to last month’s 247 and August’s 285. There is no doubt Lake Norman’s housing market has slowed down but not unusually so for this time of year. Let’s take a closer look:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 3rd Quarter Home Sales by Price Range: Great tool for buyers and sellers!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $400,000 price range, you are going to have an entirely different experience than someone in the $500,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 3rd Quarter 2015 Home Sales By Price Range

Lake Norman home sales by price range 3rd Quarter 2015

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.  

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 2015 Market Report: Good News & Bad News

So here is the good news: Lake Norman squeaked by last September’s total home sales by 2% making it the 9th month in a row where we beat 2014 closed sales.  The bad news?  October is really going to be ugly.  Unfortunately, last October we had a particularly strong month and there is just no way we are going to be able to match those numbers this month given our low number of pending and newly under contract sales. Our inventory of active listings is insanely low (11% below last year’s) which will also serve as another challenge to the rest of 2015 sales. If there is a silver lining  it is that after October our sales in 2014 dropped significantly so there is a chance we can pull out ahead of  last year again in November and December. And, our year-to-date 2015 closed single family home sales are 14% higher than 2014’s.  For the first time since the recession, Lake Norman’s housing market has been consistently strong every month in 2015. Unfortunately, it has been trending downward in the last few months and is now looking rather feeble. Let’s take a closer look:    

September 2015 Sales Analysis framed on 5th

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2015 Market Report: Does the Momentum Continue?

Well, yes and no, is the honest answer.  Yes, Lake Norman’s August closed home sales did exceed last August’s by 8% making it the 8th month in a row where we beat 2014 closed sales.  And, our pending sales are slightly better than last year. However, our  number of newly under contract homes fell 3% below last year’s which is the first indication that there may be a slowdown in Lake Norman’s horizon. So, while sales were up, they were not up by as much as prior months which may indicate that the impressive momentum we have enjoyed since January is beginning to slow.  That said, our year-to-date 2015 closed single family home sales are 15.8% higher than 2014’s.  For the first time since the recession, Lake Norman’s housing market has been consistently strong every month in 2015. But will it continue? Let’s take a closer look:

Lake Norman Home Sales Analysis

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2015 Hot Sheet

Lake Norman real estate Hot Sheet report

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.

The August housing market in our Lake Norman area historically has been a bit schizophrentic.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2015 Market Report: Looking Good!

Despite my earlier doubts, Lake Norman logged in another impressive number of home sales in July making this the 7th month in a row where we beat 2014 closed sales.  This July was also the strongest July for single family home sales since 2005 even exceeding 2006! (However, July was down 13.5% from June’s truly record breaking 193 sales.) The momentum since January continues for our Lake Norman real estate market and our new “under contract” numbers indicate that we should have another good showing for the next several months at least. Our year-to-date 2015 closed single family home sales are 16.5% higher than 2014’s.  Lake Norman’s housing market got crazy busy (my technical term for it) right after the holidays and unlike previous years has been consistently strong every month so far in 2015. Plus, our new contracts indicate that this trend will continue for at least another month or two. Let’s take a closer look:

Lake Norman home sales analysis July 2015

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you: Continue reading

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