Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s October 2019 Market Report

Lake Norman Real Estate's October 2019 Market Report

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

As our numbers from last month predicted, Lake Norman home sales in October were very strong: a 23% increase over last year’s and a 14% increase over last month’s. This month’s sales also exceeded all prior October home sales since 2005 by a significant amount! (See green chart below). Yes, we are up against some weak 2018 numbers but the fact that we also beat our 2017 record-breaking October is truly impressive especially when you consider how low our inventory of active listings is today. And, this trend looks to be continuing throughout the rest of this year. 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 October’s Lake Norman real estate sales data:

  • Our current month’s of supply (absorption rate) is only 3.15 which is a record low.  We are still very much in a seller’s market.  (A balanced market is 6 months of inventory).
  • Lake Norman’s home sales for the first 10 months of 2019 are now 4.4% higher than 2018’s and 3% above 2017 which was Lake Norman’s highest year of sales ever!
  • The average sales price was up 7% compared to last year’s.  To learn more, scroll down to the sales by price range below.
  • Our inventory of active listings is significantly lower than last year’s. (-22% or a whopping 169 fewer than last year’s!). Normally our inventories  start to decline after their summer peaks but there is no doubt that this year’s numbers are exceptionally low, period!
  • Our newest contracts (UCS) are up 19% while our pending sales (UCNS) are up an impressive 31%. It looks like our Lake Norman home sales will be strong through the end of the year after the 3-month slowdown during the summer.  This is remarkable given our record low inventory!
  • October’s waterfront home sales put this niche in a sellers market with just 4.43 months of supply but it remains weaker than our overall Lake Norman real estate market.
  • New construction sales represented 22% of our overall market in October and today they represent 28.4% of our new contracts.

Let’s take a closer look:

Continue reading

Standard
Lake Norman Real Estate Market Reports

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

Lake Norman Hot Sheet Home Sales

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market.  So where are we today?  After a stunning March, strong April and May, record-breaking June, strong July and August, it looks like this hot trend might continue through the rest of 2017. Let’s take a closer look:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s June 2017 Market Report: Historic Record!

Holy Cow! Lake Norman’s June closed home sales of 225 makes it the highest month in Lake Norman’s history, surpassing the previous high of 216 set back in August 2005! 5 out of the first 6 months of this year our sales exceeded 2016’s.  We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%.  Over all, the first half of 2017 was 19.6% higher than the first half of 2016.  AND, at 932 closed sales, our first 6 months were the highest first 6 months in Lake Norman’s history!  Let’s take a closer look:

Lake Norman Market Report June 2017

All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

Continue reading

Standard
Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s May 2015 Market Report: Wow!

Wow is right! Our Lake Norman’s real estate market which has been impressive since the year began just logged in double digit increases in not just closed sales but in new contracts and pending sales as well!  We beat last May’s closed sales by 17%, last month’s closed sales by 24.8% and nearly matched May 2013’s record breaking sales of 165.  We also beat May 2005’s closed sales. Once the stragglers log in I predict we will also exceed May 2007’s and perhaps match May 2013’s 165.  Our year-to-date 2015 closed single family home sales are 19.6% higher than 2014’s.  On top of these impressive numbers, take a look at what’s on the horizon. Our total number of properties currently under contract exceed the past two June 6th’s and are close to our record May 6th’s of 2013. Lake Norman’s housing market got crazy busy (my technical term for it) right after the holidays and unlike previous years has been consistently strong every month so far in 2015. Plus, our new contracts indicate that this trend will continue for at least another month or two. Let’s take a closer look: Continue reading

Standard
lake norman real estate, Lake Norman Real Estate Market Reports

Lake Norman Real Estate’s Market Report April 2015

So, Lake Norman’s real estate market is still rocking!  We beat last April’s closed sales by 5% and just about matched last month’s stunning numbers. For the first time our April closed sales actually BEAT April 2007’s and logged in the best April since 2006. Our year-to-date 2015 closed single family home sales were 20.8% higher than 2014’s.  On top of these impressive numbers, take a look at what’s on the horizon. Our total number of properties currently under contract match the highest number since the recession which was May 6th of 2013. Lake Norman’s housing market got crazy busy (my technical term for it) right after the holidays and we are now seeing this translated into not just closed sales but high numbers of new contracts as well. Let’s take a closer look:

Lake Norman Market Report April 2015

Lake Norman Market Report April 2015

* All data is from the Carolina Multiple Listing Service.

Continue reading

Standard