All data is from the Canopy/Carolina Multiple Listing Service.
As our pending numbers from the past 2 months predicted, Lake Norman home sales in November were very strong: a whopping 50% increase over last year’s. They also exceeded all prior Novembers’ home sales since 2005 by a significant amount. (See green chart below). Yes, we were up against some weak 2018 numbers but the fact that we also beat our 2017 record-breaking November by 15.6% is truly impressive especially when you consider how dramatically low our inventory of active listings is today. What has changed, however, is our momentum. Based on the under contract and pending numbers above, our sales are going to be down quite a bit if not in December then January. Let’s look at my comprehensive report below which will provide deeper insight into where we are headed as well as details regarding this month’s sales.
Here are what I feel to be the biggest takeaways from November’s Lake Norman real estate sales data: