One of the most common questions asked by both home buyers and sellers is which months of the year are the strongest in our Lake Norman’s housing market? When I read a recent article about a study by Trulia that placed North Carolina and South Carolina’s strongest months for home searches in July, I was a bit surprised so decided to see for myself if this is also true for Lake Norman.
Here is my chart with Lake Norman home sales by month since 2005. Taking a closer look it is clear that our Lake Norman real estate market isn’t consistently the strongest in the same month every year. Over all, Lake Norman’s real estate market picks up after the first of the year and generally slows down at the end of the year but beyond this generalization, there are some interesting inconsistencies:
- August was the best month followed by July, June, September and October
- June was the best month followed by May, August, July and March
- June was the best month followed by May, July, March and August
- July was the best month followed by May, April, June and September
- July was the best month followed by June, September, October and December
- June was the best month followed by May, April, December and November/July (This was the year of the rebates hence the April/June numbers)
- August was the best month followed by June, October, July and April
- August was the best month followed by May, June, July and November
- So far this year every month since January Lake Norman has had more home sales than the prior month
So there you have it. Our Lake Norman real estate market is not so predictable as one might think. June, July and August share the top month awards but once we get past those months there are incredible variations. Most surprising for many might be the strength of sales in November and December in several years.
The bottom line is that the only way to truly anticipate our Lake Norman real estate market is to watch the numbers every month as I do with the monthly sales analysis and the Hot Sheet reports. Right now, I think May might be the best month of 2013 because our under contract numbers have dipped slightly. However, there is every possibility that they could rebound in a few months. It is simply not that easy to predict the Lake Norman housing market!
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