lake norman real estate

Lake Norman Region Market Report for November 2020

Winter sunset on Lake Norman.

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

If we go back to March of this year, who would have guessed that we would be setting records in the Lake Norman real estate market during a global pandemic AND an election year!?  We never dreamed we would be watching sales soar this time of year.  COVID-19 aside, in election years, we typically see a slight decline in the real estate market.  While November saw 58 less closed single-family homes than October, it was still a record-breaking month! Never have we seen this many closings for the month of November in the Lake Norman region, with 180 homes sold, surpassing last November by 10 sales (6% increase).

There were fewer homes “coming soon” for November as most homes went straight to the market.  There were 250 active listings for the month, less than half of the inventory we had in November 2019.  The lower inventory continues to be the driver of the sales market as values continue to increase. We saw a 4% increase in the average listing price from the previous year, however, that is much higher on the sales side. This increase hasn’t stopped buyers from entering the market, and the low interest rates offered on home financing is allowing buyer dollars to go even further.

With 393 single-family homes going under contract for November, this was 147 more homes than the previous year!  For the homes that are “under contract no show,” there was a 104% increase in units and a 35% increase in the average sales price.  This is much higher than the 4% price increase with active listings.  The median price for those homes was $399,000, which is fabulous for buyers in that price point.

Here is a deep dive into some other fun facts about market statistics this month.  Let us know what you think!  Which one surprises you the most?  Here they are:

Active Listings Market Statistics –

  • 115 of the active homes are new construction, 46% of the active listings
  • 66 of the active homes are waterfront, 26% of the active listings
  • The average year built is 2008
  • 129 of the active listings are in Mooresville at Lake Norman, 52% of the available inventory (great news for anyone searching in Mooresville)
  • The average square footage of heated living space is 3334
  • The average lot size is .83 acres
  • The most expensive home available is $6,995,000
  • The least expensive home available is $150,000

Under Contract Show Market Statistics (note – prices are based on the listing price as the sales price is undisclosed until sold) –

  • 93 of the homes are new construction
  • 57 of the active homes are waterfront
  • The average year built is 2007
  • 136 of the active listings are in Mooresville at Lake Norman, 54% of the available inventory (good thing most of the inventory is there too)
  • The average square footage of heated living space is 3143
  • The average lot size is .76 acres
  • The most expensive home available is $6,800,000
  • The least expensive home available is $160,000
  • 40 of the homes that went under contract show were on the market less than one day
  • 100 of the homes that went under contract show were on the market less than one week

Under Contract No Show Market Statistics –

  • 70 of the active homes are new construction
  • 30 of the active homes are waterfront
  • The average year built is 2010
  • 82 of the active listings are in Mooresville at Lake Norman, 58% of the available inventory
  • The average square footage of heated living space is 3175
  • The average lot size is .70 acres
  • The most expensive home available is $3,499,900
  • The least expensive home available is $130,000

Closed Market Statistics-

  • The average listing price of homes sold was $675,444 (sold average price is in the chart)
  • The median listing price of homes sold was $532,500 (sold median price is in the chart)
  • The average listing price to average sales price ratio was 97.6%
  • The median listing price to median sales price ratio was 96.25%
    • For buyers, this tells you that you have roughly 3% negotiation room
  • 27 of the homes were new construction
  • 49 of the homes sold were waterfront
  • The average year built was 1990
  • The average lots size was .65 acres
  • The average square footage of heated living space was 3194
  • The most expensive home sold was $2,825,000 (It was listed for $2,999,990
  • Of the homes sold, 17 of them went under contract with less than a day on the market
  • 77 of the homes sold went under contract in a week or less
  • 115 of the homes sold went under contract in under 115 days
  • The home that sold with the most days on market was on the market for 839 days

Overall, we see several patterns among the statistics.  Homes built in the last 10 to 15 years are selling more than much older resale homes.  Most of the homes are over 3000 square feet.  The lots are all over a half an acre on average as well.  Does your home match these criteria?  If so, and you are thinking of selling, we would love to speak with you!

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:

  • December 7, 2020: 393
  • November 9, 2020: 413
  • October 8, 2020: 437
  • 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: 335
  • 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

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 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 and strong April, it looks like this trend is continuing in May and beyond. Let’s take a closer look:

Lake Norman Real Estate’s May 2017 Two-Week Hot Sheet

Lake Norman Market Report May 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. (May 7th – 21st).  As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the May chart using my data since 2009.

Continue reading

Standard
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.

Continue reading

Standard
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.

Continue reading

Standard
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.

Continue reading

Standard
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.

Continue reading

Standard
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:

Continue reading

Standard
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.

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2016 Hot Sheet it 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.

So, here are some very interesting numbers! They indicate that Lake Norman’s real estate market is HOT today but only after a potential hiccup for closed sales this month.  Let’s take a closer look:

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

Lake Norman Hot Sheet March 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. (March 8th – 22nd). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the March chart using my data since 2009.

Continue reading

Standard
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.

Continue reading

Standard
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.

Continue reading

Standard
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:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 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 our Lake Norman’s September home sales are always a bit lower than our peak Spring and Summer months and it looks like this month will be no exception.  Since 2005 only 2 September closed home sales totals exceeded August’s and they were during the recession years of 2008 and 2009. September has never had the highest annual sales in Lake Norman so clearly a slowdown is expected.   As of today we have 72 total closed sales since the first of September compared to last month’s 83 and 95 closed sales at the same time in July. Continue reading

Standard
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.

Continue reading

Standard
Lake Norman Real Estate Market Reports

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

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.

June is here and with it a record breaking heat wave!  But are Lake Norman home sales as hot as they have been?   I will have to say yes based upon our numbers below.  That said, it is not just the strong numbers that continue to impress, but the consistency.   Rather than ups and downs, in 2015 our market has gained and then kept solid momentum since January which truly is a first since 2006. We currently have a whopping 325 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 347. While this is a slight decline they are still the second highest number since the recession! What is equally important is our low number of active listings which are now actually dropping rather than increasing.  Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

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

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.

So, wow. In May we have taken the ball and are running with it at record breaking speed as Lake Norman continues its strong housing sales activity which began at the beginning of the year.  It is not just the strong numbers that impress, but the consistency.   Rather than ups and downs in 2015 our market just keeps gaining momentum which truly is a first since 2006. We currently have a whopping 347 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 321. This is the highest number since the recession! What is equally important is our low number of active listings although they are growing.  Here are our 2-week Hot Sheet numbers: Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2014 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.

We are entering our typical seasonal slowdown after a very respectable spring and early summer. So far this August Lake Norman home sales are equal to  last month’s but our most recent numbers indicate our fall slowdown has begun.  We currently have 247 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 290. Continue reading

Standard