Lake Norman News, Events and Celebrations

The 2014 Lake Norman Folk Art Festival is October 4th!

Lake Norman Folk Art Festival 2014

Our Lake Norman Folk Art Festival is now in it’s 6th year and it just keeps getting bigger and better.  This really is a must attend if you enjoy festivals, southeastern folk art, local foods and food trucks, live music and plenty of activities for kids of all ages! Continue reading

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Lake Norman Desktop Calendar October 2014

Download this month’s Lake Norman calendar here

Most Lake Norman folks will tell you that October is usually the last month of our active boating/water sports season even though it may officially end on Labor Day. This paddle boarder is getting in a last few hours before the sun sets on a typical, beautiful fall day on Lake Norman.  The Carolina Blue Skies are fading into the brilliant autumn tones of the sunset.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Gallerieswho spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman as well. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2014! He has myriad beautiful photographs like this one for sale as well as his wonderful watercolors and even North Carolina pottery. Continue reading

Lake Norman photos

Lake Norman Real Estate’s October 2014 Calendar is Here!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate Sales Charts Make Data Fun!

If you are a regular reader of my Lake Norman Real Estate blog, you are familiar with my numerous, comprehensive monthly and quarterly market reports. Obviously, I love numbers.  I even have a T-Shirt I won that says “Data Geek” on it!  But not all home buyers or sellers want detailed spread sheets so I thought I would add a new feature to this blog: easy to understand pie charts and graphs of the more general sales trends.

Lake Norman Single Family Home Sales by Month

The chart above represents the average home sales by month for the past 10 years.  As you can see, historically June represents our highest sales and January and February are tied for the lowest sales.  We see a significant increase by April and a fairly significant slowdown by September.  54.4% of Lake Norman’s annual sales are from April through August.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s September 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.

Fall is here but someone forgot to tell our Lake Norman home buyers!  Instead of our typical seasonal slowdown, we are cranking along like it is June. We currently have 282 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.  At a time when our real estate market is usually slowing down we are actually seeing a new surge of activity! Here are the numbers: Continue reading

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The Real Estate Process, Home Buying and Selling Tips

Why a “Dated” Home in Lake Norman?

Home in Lake Norman's Luxury Community The Peninsula

One of the adjustments I had to make when I moved to Lake Norman in 2005 from Pasadena CA was the transition from selling historic, Pre-World War II homes to mostly new or newer construction.  We didn’t even have Great Rooms and the Master Bedrooms were always upstairs!  Synthetic stucco, what was that? Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman’s 7 Towns; 7 Different Real Estate Markets!

Lake Norman Map with 7 Towns

7 unique and very different towns share the shoreline neighborhoods of Lake Norman.  Some, like Davidson and Huntersville, only have a tiny portion of the lake while others, most notably Mooresville, enjoy a huge percentage of the waterfront homes and land. The one thing they all have in common is that their waterfront homes and neighborhoods closest to Lake Norman make up only a portion of their overall housing.  In many cases they span pretty far out into the farmlands and/or towards Charlotte.

While I focus almost exclusively on the Lake Norman real estate market on this blog, I thought it might be interesting to take a look at the sales of the single family homes for the past 6 months  for each of the 7 towns in their entirety: Continue reading

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Relocating? Life in Lake Norman

Discover Mooresville’s Harris Teeter Shopping Center: A Mini Birkdale Village!

Mooresville's Harris Teeter

This Harris Teeter has been MY Harris Teeter since moving to Lake Norman in 2005.  Because the shopping center doesn’t have a formal name or great layout, I don’t think many of us locals think of the shops, restaurants and services as a shopping center or village.  However, over recent years a number of really good restaurants and shops have opened so now it truly is a destination for me and my husband. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s August 2014 Sales Analysis: Surprisingly Good!

Not only were our Lake Norman’s home sales for August 2014 higher than last August’s, but our number of properties currently “under contract” are substantially higher than last year’s. Clearly, our activity has not really softened as it usually does in late summer.  To me this indicates that our Lake Norman housing market is now more stable than it has been since the recession and is sitting on a stronger foundation. Let’s take a closer look at the August 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman home sales report for August 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program in March which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible. Continue reading

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Lake Norman Real Estate's September 2014 Calendar

Download this month’s Lake Norman calendar here

Fall is a very special season on Lake Norman.  The tree-lined shoreline becomes ablaze with vibrant shades of reds, oranges and yellows as our many Maple, Gum, Poplar and other stunning trees transform in preparation for winter with a back drop of our brilliant Carolina Blue Skies.  The reason many folks relocate to Lake Norman is because we do have 4 distinct seasons albeit very mild ones. Fall and Spring are definite my favorite times of year!

This gorgeous photo of the Davidson College Clock Tower was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Gallerieswho spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman as well. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2014! He has myriad beautiful photographs like this one for sale as well as his wonderful watercolors and even North Carolina pottery. Continue reading

Lake Norman photos

Lake Norman Real Estate’s September 2014 Calendar is Here!

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Lake Norman waterfront homes

What do Lake Norman’s Waterfront Home Sales in 2014 tell us?

Lake Norman waterfront home on large cove

So far, 2014  has been an odd year for our Lake Norman waterfront home sales.  There have been no obvious trends or “hot” price ranges or locations.  Overall waterfront home sales have represented only 29% of all Lake Norman home sales year-to-date.

Now that distressed homes  (foreclosures and short sales) are, for all intents and purposes, gone and prices are on the rise, waterfront buyers this year seem to be taking longer to buy and seem to have higher expectations and are willing to hold out for their perfect home.  There is also a good segment of waterfront buyers who are focused more than ever on tear-downs or lots.  If you drive around the Brawley School Road peninsula in Mooresville you will see an impressive number of new construction homes on the water.  There are 3 waterfront homes alone being built on my tiny street!

Yet despite the seemingly slower sales of existing waterfront homes 2014 has actually been a strong year so far if you compare our waterfront homes’ average sales price and sales price per square foot: Continue reading

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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

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Lake Norman News, Events and Celebrations, Relocating? Life in Lake Norman

Lake Norman’s new Mooresville Town Square is coming to life!

Mooresville Town Square Rendering

If you haven’t checked out the Mooresville Town Square on the corner of Brawley School Rd. and Williamson Rd lately then you are definitely in for a great surprise! After a slow start thanks to the recession, it is now a happening place to go. With it’s upscale architecture, beautiful gardens and walking paths it reminds me a little bit of a Birkdale Village in it’s early stages. This 200,000 square foot “lifestyle center” offers great food, hangouts, shopping and services all walkable. Continue reading

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Relocating? Life in Lake Norman

Relocating to Lake Norman? Look no further than this Lake Norman Real Estate Blog!

Gorgeous Lake Norman cove view from waterfront home

Back in May of 2007 I launched this Lake Norman Real Estate Blog in hopes of providing meaningful information to Lake Norman home buyers and sellers. But, I was and still am particularly passionate about helping those relocating to Lake Norman just as my family did in 2005.  In the past 7 years I have met and sold homes to buyers from as far away as Russia, Australia and England who contacted me after reading my blog; some times for years!  How cool is that?

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2014 Home Sales Analysis

Lake Norman’s real estate market remains robust after a lethargic winter and early spring. Following exceptionally strong closed home sales in June, we slowed a bit in July but are managing to keep up with 2013’s record breaking numbers.

Let’s take a look at the July 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman real estate home sales analysis for July 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program in March which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible.

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Lake Norman calendar August 2014

Download this month’s Lake Norman calendar here

Wow! Lake Norman waterfront home owners and boaters sure do enjoy amazing sunrises and sunsets! Some take their boats out almost every evening with a glass of wine just to soak in beauty like this photograph above captures so wonderfully. Continue reading

Lake Norman photos

Lake Norman Real Estate’s August 2014 Calendar is a Gorgeous Sunset!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s July 2014 Hot Sheet Home Sales are HOT!

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year. The past three months we have seen a dramatic uptick in activity but by this time last year we were already experiencing a slowdown.  So far this July, Lake Norman home sales are even higher than last month! We currently have 290 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 262. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 2nd Quarter 2014 Home Sales by Price Range is a Must Have Tool for Buyers and Sellers!

If you are a home buyer or seller in the Lake Norman 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 real estate home sales by price range for second quarter 2014

*Compiled from the Charlotte Regional 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. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2014 Home Sales Analysis

Wow!  Look what June brought to our Lake Norman real estate market: An 11% increase over June 2013’s closed sales AND the highest number of closed single family homes since June 2007!  Our sales this June even surpassed last year’s record breaking May sales.

Let’s take a look at the June 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman real estate sales for June 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program last month which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible.

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Lake Norman photos

Lake Norman Real Estate’s July 2014 Wallpaper Calendar is Here!

Lake Norman real estate's July 2014 Wallpaper Calendar

It is wonderful how one great photo like this can tell you quite a lot about Lake Norman.  The Shoal signs scattered around Lake Norman warn boaters of shallow spots or hazards.  This awesome Osprey and her nest represent one of Lake Norman’s myriad birds that are particularly treasured and even the focus of the Lake Norman Wildlife Conservation group who builds structures to encourage Osprey’s to nest.  Beyond the Shoal signs is the typical, lush, tree-lined shoreline with lovely homes peeking out enjoying the beautiful Carolina blue skies and the expansive blue water that is Lake Norman.

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2014 Hot Sheet Home Sales Analysis

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year. The past two months we have seen a dramatic uptick in activity and thankfully that trend is continuing. We currently have 262 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 285.  Once again I don’t think this month we will match June of 2013’s 151 closed sales but take a look and see what you think:

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2014

Lake Norman real estate home sales activity June 2014

* 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. (June 7th – 22nd). As always, I have included the past 5 months so that you can put these numbers in perspective.

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Relocating? Life in Lake Norman

Lake Norman Real Estate’s Business of the Week: Shoals Grill in Mooresville

Shoals Grill in Mooresville lake norman

Opened in 2010, Shoals Grill  has been a great Lake Norman restaurant success story as it has evolved and perfected it’s menu and service over the years to become a local favorite hangout.  Located in the Food Lion Shopping Center at Stutts Rd and Brawley School it has plenty of seating and a wide variety of food sure to please everyone!

Lake Norman sign in Shoals Restuarant

As you enter Shoals, you immediately feel like you are on vacation.  The fun, whimsical nautical decor with the weathered wooden walls reminds me of hanging out at the lake or beach in the summer.  It feels like it is time to relax.  Shoals Grill  pretty much demands that you leave your stress at the door!

The food is awesome.  I am so addicted to their Chopped Chicken Salad that I have it every week! My hubby loves their Southwest Burger with their to-die-for Tabacco Onion Rings and swears it is the best burger in Lake Norman!  Did I mention their desserts?  My favorite is their brownie topped with ice cream, whipped cream, nuts, chocolate and carmel sauce.  But then again, I have yet to try their Lemon Cheese Cake Brulees or Smores.  (Of course, their ice cream is made locally at Mooresvilles Deluxe Ice Cream). Continue reading

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lake norman real estate

Caution! What to be aware of when searching for Lake Norman homes Online

Lake Norman waterfront home on the main channel

Searching for Lake Norman homes for sale on the Internet just keeps getting easier and better. About one third of online real estate searches are done using one of the top three websites, Zillow, Trulia and Realtor.com with Zillow far and away the most popular.  Thanks to their stiff competition for market share, home buyers and sellers now have almost as much data and information available to them as Realtors which is really awesome! (Despite what some real estate agents might say.)

The cautionary note that I want to underscore after observing many of my clients recently is that they tend to give too much credence to the online data, especially on Zillow.  The problem is, while Zillow has come a long way over the years, it’s Zestimates and raw data are still flawed. Yes,  Zestimates are substantially better than when they launched years ago, but they can be far enough off to frustrate a seller and shouldn’t weigh too heavily on a buyer’s idea of market value. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2014 Home Sales Analysis

While our Lake Norman home sales numbers for May did not match May 2013’s record setting sales, they were the second best May since the recession and 8.4% higher than last month’s.  Not bad!  After struggling since late fall, our real estate market has jumped back to life with surprising strength and velocity and it looks like this will continue into the early summer months at least.

Let’s take a look at the May 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman Home Sales Analysis for May 2014

* All data is from the Charlotte Regional Multiple Listing Service. **Please note that the MLS started using an entirely new program last month which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented only 5.5% of Lake Norman’s total home sales which was the lowest since the recession and down from last month’s 9.4, and significantly lower than January’s 29%. We only had 7 distressed home sales in May. The average price for distressed single family home sales was $284,332.  Distressed active listings comprise only 2.4% of our total inventory of Lake Norman homes sale. Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • 33.6% of our May home sales were waterfront homes which was up from 23% last month and back to where they normally are after a very slow winter and early spring. The average sales price of a Lake Norman waterfront home in May was $777,086.  Our average price per square foot, at $256.97, was up significantly from last month’s $216.34 and even our peak of $229 last summer.  Clearly we are seeing new life in our Lake Norman trade-up price ranges after a rather long slump!
  • 14 new construction homes closed in May through our MLS but this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS. (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes was 100%. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 33 new construction homes under contract in the MLS. The average sales price in May logged in at $424,839.
  • 43.5%  of Lake Norman’s May single family home sales were under $400,000.  This is a huge drop from the staggering 59.8% last month.  Clearly our higher priced homes are selling again!
  • 63.4% of the entire Lake Norman home sales in May were under $500,000 down from 69.4% last month. This means almost 20% of our sales in May were in the $400,000’s!
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 262 were down slightly from last month’s 274. At 262 Lake Norman has 10.5% FEWER homes under contract compared to last year’s 293 at this exact date,  while we aren’t quite matching last year’s hot numbers, we have improved immensely in the past two months. We have definitely stopped the bleeding but, like with the rest of the US,  it is still going to be really tough to match our strong 2013 sales.

A closer look at the chart:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2014 Hot Sheet Sales Update

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Our Lake Norman housing market is now smack dab in the middle of it’s traditionally strongest selling season of the year.  Last month we saw a dramatic uptick in activity and thankfully that trend is continuing!  We currently have 285 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 264. After exceeding last year’s closed sales in April, are we on track to May 2013 record sales?

Lake Norman Real Estate’s Two-Week Hot Sheet

5/21/2014

Lake Norman housing market activity for the past two weeks

* 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 5 months so that you can put these numbers in perspective. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s April 2014 Home Sales Report: UP!

For the first time in 2014, Lake Norman home sales were higher than the same month a year ago and the highest since 2007!  After struggling since late fall, our real estate market has jumped back to life with surprising strength and velocity.  Lake Norman single family home sales were 4% higher than last April’s and a whopping 37.6% higher than last month’s.  March seems to have been the “bottom” of our mini housing dip with 17% fewer closed sales than March 2013. But, the higher “under contact” numbers that showed up last month clearly converted to strong closed sales in April.

Let’s take a look at the April 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area real estate market:

Lake Norman Real Estate's Home Sales analysis April 2014

* All data is from the Charlotte Regional Multiple Listing Service.  Please note that the MLS started using an entirely new program this month which did away with Area 13 so my numbers may vary slightly from the past but I have made it as close as possible. 

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 9.4% of Lake Norman’s total home sales which were down slightly from last month’s 11.25,  lower than February’s 13.6% and significantly lower than last January’s 29%. We only had 11 distressed home sales in April. The average price for distressed single family home sales was only $197,173. Distressed active listings comprise only 2.9% of our total inventory of Lake Norman homes sale. Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 23% of our April closed sales were waterfront homes which was even down from 25% last month. The average sales price of a Lake Norman waterfront home in April was $855,894 which is down from last month and most of last summer as well. In April our closed  luxury housing sales inched up. Our average price per square foot, at $216.34, was down from last month’s $221.14 and is still well below our peak of $229 last summer. That said, overall Lake Norman’s waterfront home sales above $800,000 are improving.
  • Only 5 new construction homes closed in April through our MLS but this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS. (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes was 98%. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 44 new construction homes under contract in the MLS. The average sales price in April logged in at $308,967.
  • 59.8% of Lake Norman’s April  single family home sales were under $400,000.
  • 68.4 % of the entire Lake Norman home sales in April were under $500,000. Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 274 shot up for the second month in a row. ( Last month’s was 243 and February’s was 187). At 274 Lake Norman has 13.2% FEWER homes under contract compared to last year’s 316 at this exact date so we are not up to May 2013 but this is the highest number of homes under contract since last July! We have stopped the bleeding and are definitely on the mend but it is still going to be really tough to match our strong 2013 sales.

A closer look at the chart:  Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s 1st Quarter 2014 Home Sales by Price Range is a must have tool for buyers and sellers!

If you are a home buyer or seller in the Lake Norman 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 home sales by price range for the first quarter of 2014

*Compiled from the Charlotte Regional 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.

** Compare this to the 4th quarter 2013 price range analysis and the 1st quarter 2013 price range home sales.

How to read this report:

  • First choose a price range.
  • The next column provides the actual number of listings sold in this price range in the 1st quarter of 2014
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman area 13
  • Next is the number of active listings in this price range at this time
  • This is followed by the percentage this price range represents of the total number of active listings
  • Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales. (A balanced housing market is 6 – 8 months so you can use this to gauge your price range).

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2014 Home Sales Analysis; The Weather Factor?

After a tough fall and winter, Lake Norman’s real estate market seems to be coming to life simultaneously with the arrival of spring temperatures.   Perhaps we actually can blame our weak housing market on the weather and the tightened mortgage requirements like the national pundits are doing.  That said, we can’t blame it on a lack of inventory like parts of the US.  All I know is that it is such a relief to see a marked increase in real estate activity here in Lake Norman after such a bad spell!  March seems to be the “bottom” of our mini housing dip with 17% fewer closed sales than last March.  However new contracts are nearly up to last year’s for the first time in months.

Let’s take a look at the March 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman home sales analysis for March 2014

* All data is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 11.25% of Lake Norman’s total home sales which is up from last months 5.6 but lower than February’s 13.6% and significantly lower than last January’s 29%. We only had 9 distressed home sales in March. The average price for distressed single family home sales was $309,396. Distressed active listings comprise only 2.7% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 25% of our March closed sales were waterfront homes but this is up from 20% last month.  The average sales price of Lake Norman waterfront homes in March was $1,008,891; significantly higher than last month’s $805,203 and even topped last summer’s high of $990,693 in June due in part to a $4.85 million sale. In March our closed luxury housing sales remained weak but they have improved significantly in the past weeks. Our average price per square foot, at $221.14, is still below our peak of $229 last summer but is rising.  Lake Norman’s waterfront home sales above $700,000 are  also improving.
  • 13 new construction homes closed in March representing 16.25% of our total sales. I believe this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS.  (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes,99%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 51 new construction homes under contract in the MLS. The average sales price in March logged in at $451,415. With 132 new construction active listings Lake Norman actually has a 10.2 months supply of new homes listed in the MLS.
  • 53.75% of Lake Norman’s February home sales were under $400,000.
  • 67.5 % of the entire Lake Norman home sales in March were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 243 shot up from last month’s 187.  At 243 Lake Norman has 16.2% FEWER homes under contract compared to last year’s 290 at this exact date.  This is the highest number since last August. Considering this and the improvement from last month’s -26.6% it looks like we have stopped the bleeding and are on the mend.

A closer look at the chart:

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lake norman real estate

The Preserve at Robbins Park in Lake Norman…Not your ordinary new housing community!

Lake Norman new community Robbins Park

From home to neighborhood, The Preserve at Robbins Park is your oasis of timeless luxury surrounded by the quiet of forest in the midst of the most exciting and active part of Lake Norman.

 The Preserve at Robbins Park  was originally the brain child of Simonini Homes back in 2008/2009.  However, during the recession Simonini closed down and the community stalled with just a few home built.

In the Fall of 2010, Classica Homes took over Robbins Park  which is now a thriving community that still embraces the original concepts  including forward thinking architecture designed by Nationally  renowned Bassenian Lagoni Architects, Energy Star certification, and their balance of a commitment to the preservation of nature with the tranquility of a home.  You can expect open floor-plans, great use of space plus gorgeous finishes in every home. They just announced that Phase III will be open September 2014.

What a great opportunity to help design your own state-of-the-art home in a community where nature trails wander through a beautifully wooded preserve, centered around the serenity of Robbins Park pond. Meet your friends at Robbins Park’s Crescent where children spend hours at the playground and children of all ages enjoy recreation at the play fields. You’ll find tennis lovers happily using two lighted courts within walking distance of home. Still to come are more park lands and athletic fields. Imagine all this adjacent to your private neighborhood, plus the connection of a greenway trail for hours of biking and hiking.

They recently even hired Dearness Gardens in Huntersville to design and install a butterfly garden!

To find out the latest news, go on their Robbins Park Blog and/or go to their comprehensive website to view the different models available and details about each home design features as well as the wonderful options you have to make your home your own oasis!

Robins Park is a joint venture with the Town of Cornelius, Mecklenburg County and Westmoreland Lake LLC.  To see an overview of the entire development simply click on this link to the Town of Cornelius’s  Robins Park page.

Imagine living where you can enjoy a walk by the pond and then follow the natural walking path to the Paved McDowell Creek Greenway.  The Greenway’s secret is that this peaceful  path leads to the very popular Birkdale Village!

Learn More About Life in Lake Norman

10 Things Lake Norman Waterfront Home Buyers Should Know BEFORE buying

Lake Norman Relocation Resources

Relocating to Lake Norman

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s March 2014 Hot Sheet Home Sales Insight and Trends

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

After an unusally cold winter, it seems life and home sales are springing to life in Lake Norman. We currently have 211 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 186.  While we are well behind last year’s numbers, the trend is definitely positive!

Lake Norman Real Estate’s Two-Week Hot Sheet

3/21/2014

Lake Norman home sales for March 2014

* 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 (area 13). These numbers represent a real time snapshot of the past two week’s activity. (March 7th – 21st). As always, I have included the past 5 months so that you can put these numbers in perspective.

I created this additional chart comparing just the March Lake Norman Hot Sheets for the past 5 years to help put our March 2014 home sales numbers in perspective with past Marches’, not just the past 6 months. Continue reading

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Relocating? Life in Lake Norman

Lake Norman Real Estate’s “Business of the Week”: Midas Spring Water

 Midas Spring Water in Huntersville

Step aside Evian, Perrier, SanPelligrinio and Fiuggi!  Did you know that right here in our own town of Huntersville, located down a long country road off of Beatties Ford, is the Midas Spring, a “natural resource comparable to the best springs in Europe, which are prized for their health-giving benefits”? 

 We all know that water is good for us but how often do we just grab whatever bottled water on sale not knowing that all waters are not the same?

“Each mineral water has a particular content, created by the minerals it leaches from the surrounding rock in the underground aquifer where it resides” according to owner Joe Liburdi.  “Midas Spring Water is especially good since it has a very low chemical content but is rich in a few important elements.  It is considered a light mineral water….but it does have some minerals, and just the right ones at it turns out.” He offers Magnesium as an example as some research shows Magnesium can cut the risk of heart disease and may even help ADD!

       The History of Midas Spring Water

According to legend, it was the Catawba Indians who first discovered this natural spring.  Then, in 1871, John Williamson Sample (raised on the Latta Plantation) purchased the spring and created what is said to be “the oldest company in Mecklenburg Co. NC with continuous service since 1871 and one of the first bottled water companies in the country.”  Over the years stories spread of the medicinal value of Midas water; from cured kidney stones, to longevity to curing a deathly ill Indian who had been left by it’s shore to die.

Today the 52-acre Midas Spring property is owned and run by Joe Liburdi and his son Gianni Liburdi who is quick to point out how favorably Midas Spring Water compares to popular American and European waters.During my recent visit I was fortunate to meet Doug Green, production manager, who gave me a tour of the production rooms and explained more about their mineral water. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s February 2014 Sales Analysis Has Too Much Red!

Unfortunately, the Lake Norman real estate market’s relatively weak late fall 2013 and January 2014 sales appear not to have been a fluke. We can blame it on the weather and the tightened mortgage requirements like the national pundits are doing.  But we can’t blame it on a lack of inventory like parts of the US.  Last month I emphasized that Lake Norman real estate sales “almost matched last year’s“. I am not sure, with double digit declines in February, that this description is still valid. Our overall home sales slowdown in Lake Norman is baffling enough but the biggest question I have right now is where in the heck did our waterfront and higher-end buyers go?  And, is the impressive return of new construction a factor in our lower MLS numbers since many of these sales are not listed?

Let’s take a look at the February 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate sales analysis of single family homes February 2014

* All date is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented only 5.7% of Lake Norman’s total home sales which is down from from last month’s 13.6% and significantly lower than last January’s 29%. We only had 4 distressed home sales in February. The average price for distressed single family home sales was $359.875. Distressed active listings comprise only 2.7% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market and this is very good news!
  • Only 20% of our closed sales were waterfront homes which is down from 30.3% last month and well below our norm. The average sales price of Lake Norman waterfront homes in February was $805,203 which was about equal to last month’s. Our highest recent waterfront sales were last July’s $874,988 and June’s $990,693. In February our closed luxury housing sales were negligible. Our average price per square foot was $227.23 which was actually up from last month’s $219 and almost matched our peak of $229 last summer.  Lake Norman’s waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 9 new construction homes closed in February but I believe this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS.  (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit). The average listing price vs sales price of new construction single family homes, bounced back up to 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 39 new construction homes under contract in the MLS. The average sales price in February was up, logging in at $460,800. With 132 new construction active listings Lake Norman actually has a 14.7 months supply of new homes listed in the MLS.
  • 51.4% of Lake Norman’s February home sales were under $400,000.
  • 68.6 % of the entire Lake Norman home sales in February were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 187 is about equal to last month’s.  At 187, Lake Norman has 26.6% FEWER homes under contract compared to last year’s 255 at this exact date. This is the number that truly scares me for our short term market. I can’t see how we will get close to the 2013 sales numbers for at least the next few months.  Good properties are selling, but buyers seem willing to wait for their perfect home since there so few “bargains” enticing them to jump off the fence.

A closer look at the chart:

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Lake Norman photos

Lake Norman Real Estate’s March 2014 Calendar is “Paradise”

Lake Norman Real Estate's March 2014 Calendar

Are you as tired of the Polar Vortex as we are here in Lake Norman?  Seriously, trees are starting to bud, daffodils are up and beginning to open…nature is tell us that it is spring time yet the pesky cold weather doesn’t seem to want to permanently retreat back to the “polar” where it belongs!

In light of this, I decided we all could use a break this month so I chose this gorgeous photo of a beach in The Virgin Islands.  Let’s take a 30-day vacation and in April we will return to Lake Norman!

To make your desktop calendar, go to the round button at the top of this site’s home page entitled: “Lake Norman Calendar”. Click on this button and up will come this image of my Lake Norman photo wallpaper calender for March 2014. All you have to do is right click and select “set as background”. Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Hot Sheet Analysis February 2014 is a bit chilly!

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Well, there is nothing like 10″ of snow to dampen our Lake Norman housing market which has been struggling so hard to gain traction after a slow January!   We currently have 186 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is about equal to last month’s Hot Sheet.  Last February we had a whopping 249 single family homes under contract on the same date as today. Clearly, at a time when our market should be heating up we are still luke warm. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

2/20/2014

Lake Norman Real Estate's February 2014 Home Sales 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 (area 13). These numbers represent a real time snapshot of the past two week’s activity. (February 6th – 20th). As always, I have included the past 5 months so that you can put these numbers in perspective.  Continue reading

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Lake Norman Real Estate Market Reports

Does Lake Norman Real Estate’s Janaury 2014 Sales Analysis set the tone for 2014?

After a very disappointing November, but a respectable December, January is an important gauge of just where our Lake Norman real estate market is headed. Lake  Norman’s January housing market started out quite slowly but picked up enough to almost match last year’s sales.  Yes, I said “almost match last year’s“.  I think we are going to hear a lot of this throughout 2014. 2013 was a recording breaking year both for Lake Norman home sales which were up 19.7% versus 2012 but also for the nation as well.  Like the nation, however, Lake Norman experienced a marked slowdown in the 4th quarter.  Last January’s 72 sales were the best since 2007 as were all but two months in 2013.  Most economists feel that the national housing market will struggle to match the strong 2013 numbers in 2014 and our January Lake Norman numbers indicate that this may also be true here.

Here are the January 2014 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate home sales analysis for Januray 2014

                                                                  * All date is from the Charlotte Regional Multiple Listing Service

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) represented 13.6%  of Lake Norman’s total home sales which is up from last month’s low but down from 14.8% in November and significan’t lower than last January’s 29%. We only had 9 distressed home sales in January. The average price for distressed single family home sales was $326,555 compared to an earlier low of $252,526. Distressed active listings comprise only 1.9% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market!
  • 30.3% of our closed sales were waterfront homes which is down slightly from last month. The average sales price of Lake Norman waterfront homes in January was $809,625  which was the highest since July’s $874,988, June’s $990,693 and higher than May’s $778,045. In January we had an slight uptick in our luxury housing market. Our average price per square foot was $219 after peaking at $229 earlier this year.  Lake Norman’s waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 7 new construction homes closed in January down slightly from the last few months. The average listing price vs sales price of new construction single family homes, while strong at 99% was actually down from an impressive 103% last month. Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 46 new construction homes under contract. The average sales price in December was down, logging in at $394,006 compared to 476,627 last month, 448,564 in November, $359,018 in October and$406,596 in September. It is important to note that many of the new construction homes you will see driving around Lake Norman are custom homes or will be sold directly from the builder to the home-buyer so will not be included in our Multiple Listing Service numbers.
  • 47% of Lake Norman’s October home sales were under $400,000.
  • 63.6 % of the entire Lake Norman home sales in January were under $500,000.  Clearly our lower price ranges are still dominating our housing market.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 185 was the first time in nine months that we saw an upswing in these numbers after April’s record high of 319 . At 185, we are well below last year’s 219 at this exact date. So, while we are definitely seeing an upswing in activity, it looks like we will really struggle to match last February’s sales.  Sound familiar?

A closer look at the chart:

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Lake Norman photos

Lake Norman Real Estate’s February 2014 Calendar is a Lake Norman Sunset!

Lake Norman Sunset photo for Lake Norman Real Estate's Calendar

Stunning Lake Norman sunset by Cotton Ketchie

Lake Norman waterfront home owners and boaters enjoy amazing sunrises and sunsets!  Some take their boats out almost every evening with a glass of wine just to soak in beauty like this photograph above captures so wonderfully.

This gorgeous photo was taken by renowned artist Cotton Ketchie, owner of Mooresville’s Landmark Galleries, who spends much of his time driving all over North Carolina and even summer trips around the country, taking stunning photos. And, of course, he also takes some amazing photos of Lake Norman as well. If you haven’t visited his store on Main Street in Historic Downtown Mooresville you should put it on your list for 2014!  He has myriad beautiful photographs like this one for sale as well as his wonderful watercolors and even North Carolina pottery.

To make your desktop calendar, go to the round button at the top of this site’s home page entitled: “Lake Norman Calendar”. Click on this button and up will come this image of my Lake Norman photo wallpaper calender for February 2014. All you have to do is right click and select “set as background”. This is a copyrighted photo so please understand that I can not send you a copy of this photo without the calendar. Thank you! Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s January 2014 Hot Sheet Bodes Well!

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Lake Norman’s 4th quarter 2013 real estate sales definitely softened after some rather spectacular months but we still ended the year 18.5% higher than 2012. Today’s Hot Sheet numbers give us our first real glimpse into Lake Norman’s 2014 housing market’s health and it is looking good for the next few months after January. The numbers below actually indicate a significant uptick in the NEW Lake Norman home sales contracts opened in the past two weeks. So, while our closed sales for January may not be stellar, our market is definitely picking up rather quickly.  We currently have 184 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is up significantly from last month’s Hot Sheet number of  164 and identical to last January’s but still well below the 206 in November, October’s  211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

1/21/2014

Lake Norman real estate sales for the past two weeks of january 2014

Lake Norman Real Estate’s January 2014 Hot Sheet Sales Analysis

* 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 (area 13). 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.

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Relocating? Life in Lake Norman

Lake Norman Real Estate’s Business of the Week: Davidson Chocolate Co.

Davidson Chocolate In Davidson Lake Norman

 For those of you who don’t frequent the charming Lake Norman college town of Davidson, you may not know that we now have THE BEST chocolate in the entire Lake Norman/Charlotte region right in our own back yard!

Located in the Harris Teeter Shopping Center, Davidson Chocolate Co. is a labor of love for owners and confectioners John and Sue Elliott. Using classic recipes from the Drost Family of Holland dating back to 1887, they create their incredible array of chocolate truffles, confections, fudge and specialty items right in their shop.

At much personal sacrifice I have made several trips to Davidson Chocolate Co. to buy samples of their truffles and bark which I can say with great enthusiasm are truly incredible!

They offer about 14 different flavors of truffles from Cappuccino to Cherry Cordial in dark, milk, white and even sugar-free chocolate.  John is constantly experimenting with new flavors.  One of the favorites is “Hot Chili”!

Using a “full-bodied 70% cocoa mass” their dark chocolates have a richness that is rarely found. Continue reading

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Lake Norman Real Estate Market Reports

How Lake Norman Real Estate’s 4th Quarter 2013 home sales by price range helps both buyers and sellers!

If you are a home buyer or seller in the Lake Norman 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 real estate sales chart by price range for 4th quarter 2013

Lake Norman home sales by price range

*Compiled from the Charlotte Regional 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.

** Compare this to the 4th Quarter 2012 Lake Norman home sales by price range

How to read this report:

  • First choose a price range.
  • The next column provides the actual number of listings sold in this price range in the 4th quarter of 2013
  • This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman area 13
  • Next is the number of active listings in this price range at this time
  • This is followed by the percentage this price range represents of the total number of active listings
  • Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales. (A balanced housing market is 6 – 8 months so you can use this to gauge your price range).

Some Findings: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2013 Home Sales Analysis: A surprise ending to 2013!

After a very disappointing November, our Lake Norman real estate sales for December came in better than I expected and 2% higher than last December’s thus ending 2013 on a positive note.  Our December 2013 home sales were actually the best since 2006 which is only the fourth month we have accomplished this in  7 years!  I fear our celebration will be short lived however given the numbers below. There are also some interesting trends in our overall Lake Norman housing market so let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the December 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman home sales analysis for December 2013

Lake Norman Real Estate’s December 2013 Sales Analysis Chart

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) plummeted to a new low of 5.3% of Lake Norman’s total home sales which is down from 14.8 last month. Prior months were: 11.3% in October, 15% in September, 9.4% in August, 11.3% in July, 6.9% in June, 10.6% in May , the 14% in April, 20.4% in March, 16.9% in February and January’s 29%. We only had 5 distressed home sales in December. The average price for distressed single family home sales was $413,757 compared to an earlier low of $252,526. Distressed active listings comprise only 3.5% of our total inventory of Lake Norman homes sale.  Clearly distressed sales no longer play a significant role in our Lake Norman real estate market!
  • 31.6 % of our closed sales were waterfront homes which is up from the last several months. The average sales price of Lake Norman waterfront homes in December was $772,116  which was the highest since July’s $874,988, June’s $990,693 and May’s $778,045. In December we had an slight uptick in our luxury housing market. Our average price per square foot remained $216 after peaking at $229 earlier this year.  Lake Norman’s waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 11 new construction homes sold in December which is identical to November. The average listing price vs sales price of new construction single family homes was an impressive 103%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 41 new construction homes under contract. The average sales price in December was up, logging in at $476,627 compared to 448,564 last month, $359,018 in October and$406,596 in September. It is important to note that many of the new construction homes you will see driving around Lake Norman are custom homes or will be sold directly from the builder to the homebuyer so will not be included in our Multiple Listing Service numbers.
  • 50.53% of Lake Norman’s October home sales were under $400,000.
  • 61 % of the entire Lake Norman home sales in December were under $500,000 which is the lowest in all of 2013.  it is truly refreshing to see some improvement in our trade-up and luxury housing markets after an abysmal late summer and fall.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 155 was the eighth month in a row of decline after April’s record high of 319 . At 155, these are the lowest combined totals since February of 2012 and well below last year’s 184.  This does not bode well for our January/February 2014 sales.

A closer look at the chart:

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s December 2013 “Hot Sheet” is giving us mixed messages!

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st.  After peaking in May, Lake Norman home sales have trended downward every month since landing with a thud in November. However, the numbers below actually indicate a significant uptick in closed Lake Norman home sales contracts in the past few weeks. The bad news is that we currently have only 164 single family homes under contract (sellers have accepted an offer but the sale is not complete) in all of Lake Norman which is down significantly from last month’s Hot Sheet number of 206, October’s  211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

12/21/2013

Lake Norman home sales activity for the past two weeks

Lake Norman home sales activity for the past two weeks

Lake Norman Real Estate’s December 2013 Hot Sheet Sales Analysis

* 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 (area 13). 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. Continue reading

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lake norman real estate

Lake Norman’s annual home sales report tool for 2013. Search by area and even neighborhood!

Charlotte and Lake Norman Multiple Listing Map by areas for home sales data

 

One of my favorite tools offered by the company who provides the home search program for this website is their reports.  I just received the link to their 2013 annual report. If you click on the area, sub-area or neighborhood a drop down box or menu will allow you to search to your heart’s delight.  Lake Norman is area 13.

What is really valuable is that you can search by neighborhood.  For example, here is a link to our luxury community The Point in Mooresville.  A quick glance shows us that the number of homes sold in The Point since 2011 has actually declined however the average price of the homes sold increased in the past three years.

A closer look at the pie charts for The Point shows us that in 2011 homes price up to $1 million comprised the greatest percentage of sales, then they dipped in 2012 when homes OVER $1 million increased to an impressive 50%.  What is really fascinating, but not surprising given the sales analysis I have done this past year, is that sales of  homes priced over $1 million in The Point actually declined as a percentage of their total sales in 2013.

You can get this same data for any area or neighborhood in Lake Norman and the greater Charlotte area.  Have some fun with this great tool!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2013 Home Sales Analysis: Did the Grinch steal our momentum?

Our Lake Norman real estate market set a record in November but unfortunately not a positive one!  For the first time since December 2011 Lake Norman home sales did not exceed the same month a year prior. As of today, our November closed sales are 10% below November 2012’s.  That said, they are still the second highest November since 2007.  While disappointing,  this is not a surprise based upon the softening trends I have noted consistently for the past several months.  Within the overall Lake Norman housing market there are some interesting trends that will be examined below so let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the November 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman real estate home sales analysis for November 2013 including waterfront homes

Lake Norman Real Estate’s November 2013 Sales Analysis Chart

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 14.8%  of Lake Norman’s total home sales which is up from  11.3% last month. Prior months were: 15% in September, 9.4% in August, 11.3% in July, 6.9% in June, 10.6% in May , the 14% in April, 20.4% in March, 16.9% in February and January’s 29%. We only had 13 distressed home sales in November. The average price for distressed single family home sales was $241,588 compared to an earlier low of $252,526. Distressed active listings comprise only 2.7% of our total inventory of Lake Norman homes sale! 
  • 26.1 % of our closed sales were waterfront homes which is about equal to last month but well below September’s 34.6%. The average sales price of Lake Norman waterfront homes in November was $696,900 compared to $662,850 last month and September’s $738,972, August’s $709,753, July’s $874,988 June’s $990,693 and May’s $778,045. What is really interesting to note is that the average price per square foot actually increased for the second month in a row to $216.15 compared to $211.11 last month and $215.43 in September after peaking at $229. Our waterfront home sales above $700,000 remain sluggish but the homes that are selling are getting relatively strong offers based upon their size.
  • 11 new construction homes sold in November. The average listing price vs sales price of new construction single family homes remains 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 49 new construction homes under contract. The average sales price in November was up, logging in at $448,564 compared to $359,018 last month and$406,596 in September. It is important to note that many of the new construction homes you will see driving around the lake are custom homes so will not be included in our Multiple Listing Service numbers.
  • 56.8% of Lake Norman’s October home sales were under $400,000.
  • A whopping 73.86 % of the entire Lake Norman home sales in October were under $500,000 which is down slightly from last month’s 75.25% but up from 66.3% in September and more in line with February’s 81.7%, 81% in January, 74 % in December and 75% last November. After seeing an upswing in both the trade-up price ranges and our Lake Norman luxury homes over the late spring and summer, we have now had several pretty weak months in a row of sales in our trade-up and luxury housing markets.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 197 was the seventh month in a row of decline after April’s record high of 319 . At 197, we dropped down from last month’s 207  but are now equal to last year’s 197. It appears that the bleeding has stopped and our  Lake Norman housing market may have stabilized but it doesn’t look like we will see double digit sales increases again any time soon.

A closer look at the chart: Continue reading

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s November 2013 Hot Sheet, Is the Lake Norman housing market picking up?

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 our Lake Norman real estate market is at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market. These Hot Sheet reports serve as pretty good predictors of our short-term Lake Norman real estate market.

Lake Norman’s 2013 real estate sales have been breaking records since January 1st. That said, there is no doubt in my mind that our number of monthly home sales peaked in May and have been trending downward every month since. However, the numbers below actually indicate a slight uptick in new Lake Norman home sales contracts in the past few weeks. We currently have 206 single family homes under contract in all of Lake Norman which is down slightly from last month’s Hot Sheet number of 211, September’s 217, August’s 253, July’s 260, June’s 301 and May’s high of 330. But, the number of new contracts has jumped back up after a drop last month. Let’s take a look at a snapshot of the past two weeks’ activity:

Lake Norman Real Estate’s Two-Week Hot Sheet

11/21/2013

Lake Norman Real Estate's November 2013 Hot Sheet

Lake Norman Real Estate’s November 2013 Hot Sheet Sales Analysis

* 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 (area 13). These numbers represent a real time snapshot of the past two week’s activity. (November 7th – 21th). As always, I have included the past 6 months so that you can put these numbers in perspective. Continue reading

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman real estate trends can be identified in the 2013 home sales in our Crescent Communities

The Point, Lake Norman waterfront  community

One of the best ways I have found to track Lake Norman’s real estate trends is to compare the largest of the Crescent Communities that are found on all sides and corners of Lake Norman.  Comparing home sales activity in The Point, The Harbour at The Point and The Farms in Mooresville, The Peninsula in Cornelius, Sailview in Denver, Northview Harbour in Sherrills Ford and Falls Cove in Troutman/Statesville provides valuable insight into these 5 Lake Norman towns and how each is recovering from the recession.

Lake Norman Real Estate's Crescent Communities Sales Analysis  November 2013

Lake Norman Real Estate’s Sales Analysis of the Crescent Communities

 * All home sales data is from the Charlotte Multiple Listing Service

I must admit I was surprised by many of the numbers above:

  • The Peninsula is actually out performing The Point both in number of total sales and, with a significantly lower number of active listings, it has a much more competitive number of months of supply at 5.7 compared to The Point’s 15 months.
  • That said, The Point and The Peninsula have almost identical numbers when it comes to the days a home is on the market, the percent of the listing price compared to the sales price and the average price per square foot.
  • It is no surprise that The Point and The Peninsula have the highest homes sales price per square foot of all 7 Crescent Communities given they have the most luxury, high-end estates and amenities and are located in the strongest real estate markets on Lake Norman
  • The months o f supply winner goes to The Farms which is not a surprise given the amount of new construction and the price ranges of $500.000-$600,000.  Note that the average home sold for 98% of the listing price as well!
  • I found it fascinating that Sailview, in Denver on the Northwest side of Lake Norman,  not only has a very low number of  of months of supply but the lowest days a home was on the market before it sold of all 7 Crescent Communities. The average price per square foot of real estate sales in Sailview was a modest $133 which supports my feelings that the west side of Lake Norman’s recovery has been later and slower than that of Mooresville and Cornelius on the east side.
  • The numbers above for Northview Harbour, in Sherrills Ford, and Falls Cove in Statesville/Troutman which are both north of Hwy 150 support the fact that these are the weakest real estate markets in all of Lake Norman.  However, it does look like Northview Harbour is gaining momentum. Continue reading
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Lake Norman News, Events and Celebrations, Relocating? Life in Lake Norman

Lake Norman Holiday Celebrations & Events for 2013 Start Tomorrow at Birkdale Village!

Christmas tree at Birkdale Village in Lake Norman

Lake Norman’s Popular Birkdale Village’s Holiday Decorations

Huntersville kicks off the holidays with The arrival of Santa and their annual tree lighting ceremony on November 16th at 5 pm at Birkdale Village.  The rest of the season visitors of Birkdale Village can enjoy the beautiful displays/decorations and even meet Santa!  (Not to mention some of the best shopping and restaurants in Lake Norman!) Continue reading

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Lake Norman Real Estate Market Reports, Lake Norman waterfront homes

Lake Norman Waterfront Home Sales and Price Trends 2013

Lake Norman Waterfront Home in Mooresville

 

Lake Norman’s 520 miles of shoreline offer an amazing variety of waterfront homes and lifestyles.  From flat lots with beaches like the one pictured above to steeper lots with walk-out basements, from heavily wooded to almost treeless lots, from grand estates to tiny cabins, and from main channel views to small coves that remind one of Huckleberry Finn, there truly is a dream home and lifestyle available for just about every waterfront home buyer!

The Lake Norman waterfront housing market was hit particularly hard during the recession; bottoming out in 2011.  With our distressed sales (foreclosures and short sales) now down to less than 3% of our entire Lake Norman housing inventory of active listings, waterfront homes sales prices have not just stabilized but are now increasing annually:

 

Lake Norman Waterfront Home 9 year Sales

As you can see above, the average prices of Lake Norman waterfront homes have increased since 2011.  The average price so far this year is 1.7% higher than in all of 2012 and 3% higher than 2011. And, the average price per square foot has increased 4.5% since 2012 and a healthy 8.7% since 2011.

With 64 waterfront homes under contract as of today added to the 352 sold so far in 2013 it looks like we will have at least 416 total waterfront home sales in 2013 which would be the strongest year of waterfront  sales since 2005!

Clearly, the last segment of our Lake Norman real estate market to fully recover is our high-end luxury housing market.  This has contributed to our lower average sales than our strong sales volume might indicate.  That said, in the past 6 months our waterfront homes sold for an average of $220 per square foot taking us back to our 2009 numbers.  Clearly, once our larger home sales pick up our average sales price will also increase bringing us ever closer to our peak in 2008.

With 357 waterfront  homes currently on the market in Lake Norman, now is a good time to consider a purchase because I have a feeling in the spring of 2014 not only will sales be even stronger but higher-end home buyers will return to the market in higher numbers as well.  Carpe Diem!

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Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2013 Home Sales Analysis: More Interesting Trends!

Change continues to be in the air in our Lake Norman real estate market. Lake Norman’s closed home sales have maintained historically strong numbers (post the recession) each month in 2013 but they are continuing their softening trend since our record setting high in May. While we still logged in some solid closed home sales numbers in October, we actually appear to be struggling right now to be able to keep our sales up above last year’s for the rest of this fall/winter. At 97 single-family home sales in October we logged in the best October since 2006  but our gains of +5% compared to last October were the smallest monthly gains posted in 2013.

Let’s take a closer look at the numbers to glean some insight into the short term future and exactly where the Lake Norman housing market stands right now.

Here are the October 2013 numbers from our Charlotte Multiple Listing Service for our Lake Norman Area 13 real estate market:

Lake Norman Real Estate's October 2013 Sales Analysis

* Note that the Charlotte Regional Multiple Listing Service created two new categories, Under Contract Showings (UCS) to continue and Under Contract no showings (UCNS). These replaced the Contingent, Conditional and Pending categories.

Some significant additional statistics for you:

  • “Distressed sales” (Foreclosures (REOS), defaults, Short Sales) comprised 11.3% of Lake Norman’s total home sales which is down from 15% last month. Prior months were: 9.4% in August, 11.3% in July, 6.9% in June, 10.6% in May , the 14% in April, 20.4% in March, 16.9% in February and January’s 29%. We only had 11 distressed home sales in October. The average price for distressed single family home sales was  $337,972 compared to an earlier low of $252,526. Distressed active listings comprise only 3.1% of our total inventory of Lake Norman homes sale! According to a recent article on Realtor.org in the US foreclosures and short sales represented 12% of August sales.
  • 26.8 % of our closed sales were waterfront homes which is well below last month’s 34.6%. The average sales price of Lake Norman waterfront homes in October was $662,850 also well below not only September’s $738,972 but also August’s $709,753, July’s $874,988 June’s $990,693 and May’s $778,045. What is really interesting to note is that the average price per square foot actually increased slightly from $211.11 last month to $215.43 after peaking at $229. Our waterfront home sales have dropped significantly over the past months above $700,000 but the homes that are selling in the lower price ranges are getting relatively strong offers based upon their size.
  • 16 new construction homes sold in October which was twice the number last month. The average listing price vs sales price of new construction single family homes remains 101%! Clearly there isn’t a lot if ANY wiggle room on prices of new homes. We currently have 46 new construction homes under contract. The average sales price in October was down, logging in at $359,018 compared to last month’s $406,596. It is important to note that many of the new construction homes you will see driving around the lake are custom homes so will not be included in our Multiple Listing Service numbers.
  • 62.8% of Lake Norman’s October home sales were under $400,000 up from 55% last month.
  • A whopping 75.25 % of  the entire Lake Norman home sales in October were under $500,000 which is up from 66.3% last month and more in line with February’s 81.7%, 81% in January, 74 % in December, 75% in November. After seeing an upswing in both the trade-up price ranges and our Lake Norman luxury homes earlier in the summer, we have now had several pretty weak months of sales in our trade-up and luxury housing markets.
  • Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 207 was the sixth month in a row of decline after April’s record high of 319 . At 207, we match last month’s so it appears we may have stopped the bleeding but there are still fewer homes under contract than any other month in 2013 except January. It is not only clear that our Lake Norman housing market has definitely slowed down but now we appear to be struggling to keep pace with 2012.

A closer look at the chart: Continue reading

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Lake Norman photos

Lake Norman Real Estate’s November 2013 Calendar is Here!

Lake Norman Real Estate's November 2013 calendar eview

While searching for a great photograph for this month’s Lake Norman Real Estate’s wallpaper calendar, I came across this beautiful shot of the Mayflower 2. While it is located far from Lake Norman in Massachusetts, I thought it was a fitting and a bit different way to honor the month during which we celebrate Thanksgiving!

The original Mayflower that sailed to Plymouth in 1620 no longer exists. Plimoth Plantation’s full-scale reproduction, Mayflower II, was built in Devon, England and crossed the Atlantic in 1957. The details of the ship, from the solid oak timbers and tarred hemp rigging to the wood and horn lanterns and hand-colored maps, have been carefully re-created to give you a sense of what the original 17th-century vessel was like.

To make your desktop calendar, go to the round button at the top of this site’s home page entitled: “Lake Norman Calendar”. Click on this button and up will come this image of my Lake Norman photo wallpaper calender for November 2013. All you have to do is right click and select “set as background”. This is a copyrighted photo so please understand that I can not send you a copy of this photo without the calendar. Thank you! Continue reading

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