There are some positive and interesting Big Picture trends going on in our Lake Norman real estate market. To help provide some insight I made these graphs comparing waterfront, distressed and new construction closed sales in 2014 to 2013:
As you can see, we had an overall increase of 7.9% in single family home sales in 2014 vs. 2013. The most dramatic increase in sales, not surprisingly, was new construction homes (189 in 2014 compared to 111 in 2013). And it is important to note that many new construction home sales never hit our MLS because builders are selling directly to buyers in many cases. Another important trend is the significant decline in distressed home sales (182 down to 109 in 2014).
Meanwhile, our waterfront home sales, when you compare the percent to total Lake Norman home sales actually dropped about 1%. That said, if you look at the graph above you can see that our waterfront home sales have recovered slightly better than our overall housing market since 2005. In the past month I have notice a marked increase in showings of waterfront homes so 2015 may be a great year!