Lake Norman’s real estate numbers for June exceeded even my expectations by logging in a total of 246 home sales which beats last June’s record breaking 236 by 4%. And, our June sales were 18.8% higher than last month’s. After some ups and downs at the beginning of the year, the past two months have helped us to record 4 more sales in the first half of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected. The million dollar question is can we sustain this level for the second half of 2018? My numbers below will provide some insight into where we are headed for the next few months.
Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:
- June’s strong numbers were able to lift our total sales for the past 6 month’s of 2018 above our record-breaking 2017 numbers.
- Our inventory of active listings remains alarmingly low (a whopping 136 fewer than last year!) and it has not increased as it should at this time of year yet we are still logging strong sales. It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.
- We are seeing some weaker pending sales which will likely lead to a dip in sales in the next few months.
- Waterfront homes are now squarely in a seller’s market for the first time since the recession.
- I want to share with you again this great interactive calculator for determining rent vs. own costs from the New York Times!
Let’s take a closer look:
* All data is from the Carolina Multiple Listing Service.