Our Lake Norman Luxury Real Estate Market Report measures activity in the Lake Norman luxury home market (single-family homes priced $750,000 and above). This report covers the following cities: Catawba, Cornelius, Davidson, Denver, Huntersville, Mooresville, Sherrills Ford, Statesville, Terrell, and Troutman.
7% Decrease in the Number of Luxury Home Sales in Lake Norman
In July 2014, 27 luxury homes sold compared to 29 luxury homes sold in July 2013, a 7% decrease in year over year numbers.
Number of Luxury Homes Listed for Sale Up 63%
In July 2014, there were 67 luxury homes introduced to the market compared to 41 in July 2013, marking a 63% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Down 35%
In July 2014, there was 9.9 months of inventory in the Lake Norman luxury real estate market compared to 15.3 months in July 2013.
Average Time to Sell Luxury Home in the Lake Norman Area is 149 Days
In July 2014, it took 149 days, on average, to sell a luxury home in the Lake Norman area compared to 91 days in July 2013.
Lake Norman Luxury Homes Under Contract Up 84%
In July 2014, 35 luxury homes went under contract in the Lake Norman area compared to 19 in July 2013, marking an 84% increase in year over year numbers.
Lake Norman Median Luxury Home Price Up 3%
This month, we saw a 3% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in July, when considering homes that sold for $750,000 or more, was $965,000 compared to $940,000 in July 2013.
Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. Please contact us at 704-305-9148 for a free, no obligation home valuation.
22% More Luxury Homes on the Market in the Lake Norman Area
In July 2014, there were 401 luxury homes for sale in the Lake Norman area compared to 328 in July 2013, marking a 22% increase in year over year numbers.
Luxury Supply is Up 22% and Luxury Demand is Down 7%
This month we saw a 22% increase in luxury housing supply (number of properties for sale) and a 7% decrease in luxury demand (number of sold properties).
Median for Sale Price Up 8% vs Median Sold Price Up 3%
In the Lake Norman area, we saw a 8% increase in the median for sale price of a luxury home and a 3% increase in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in July 2014
More Data on Lake Norman Luxury Home Sales July 2014
- The most expensive luxury home that sold in the Lake Norman area in July 2014 sold for $2,590,000
- 13 homes sold for $1 million or more
- 3 of the homes that sold were Foreclosures
- 16 of the homes sold were Waterfront
- 7 of the homes sold had a pool
- 1 of the homes sold was in Northview Harbour
- 3 of the homes sold were in River Run
- 4 of the homes sold were in The Peninsula
- 4 of the homes sold were in The Point
- Lake Norman luxury homes sold in July 2014 ranged in size from 2,914 sq. ft. to 8,023 sq. ft. with an average size of 5,186 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in July 2014 was $233.65/sq. ft.
- Sellers received on average 96.05% of their list price
If you are looking to buy or sell a luxury home in the Lake Norman area call Aaron at 704-305-9148 or email us at firstname.lastname@example.org
* Click on any of the graphs above to see larger image and print. * All information deemed reliable, but not guaranteed.