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.
32% Increase in the Number of Luxury Home Sales in Lake Norman
In August 2014, 25 luxury homes sold compared to 19 luxury homes sold in August 2013, a 32% increase in year over year numbers.
Number of Luxury Homes Listed for Sale in Lake Norman Up 32%
In August 2014, there were 62 luxury homes introduced to the market compared to 47 in August 2013, marking a 32% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Down 56%
In August 2014, there was 12.8 months of inventory in the Lake Norman luxury real estate market compared to 29.4 months in August 2013.
Average Time to Sell Luxury Home in the Lake Norman Area is 87 Days
In August 2014, it took 87 days, on average, to sell a luxury home in the Lake Norman area compared to 156 days in August 2013.
Lake Norman Luxury Homes Under Contract Up 160%
In August 2014, 26 luxury homes went under contract in the Lake Norman area compared to 10 in August 2013, marking a 160% increase in year over year numbers.
Lake Norman Median Luxury Home Price Up 21%
This month, we saw a 21% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in August, when considering homes that sold for $750,000 or more, was $1,150,000 compared to $950,000 in August 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 no obligation home valuation.
19% More Luxury Homes on the Market in the Lake Norman Area
In August 2014, there were 402 luxury homes for sale in the Lake Norman area compared to 337 in August 2013, marking a 19% increase in year over year numbers.
Luxury Supply is Up 19% and Luxury Demand is Up 32%
This month we saw a 19% increase in luxury housing supply (number of properties for sale) and a 32% increase in luxury demand (number of sold properties).
Median Sold Price Up 21%
In the Lake Norman area, we saw no change in the median for sale price of a luxury home and a 21% increase in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in August 2014
More Data on Lake Norman Luxury Home Sales August 2014
- The most expensive luxury home sold in the Lake Norman area in August 2014 sold for $3,969,000
- 15 homes sold for $1 million or more
- None of the homes that sold were Short Sales or Foreclosures
- 21 of the homes sold were Waterfront
- 10 of the homes sold had a pool
- 1 of the homes sold was in Northview Harbour
- 1 of the homes sold was in River Run
- 2 of the homes sold were in Sailview
- 3 of the homes sold were in The Peninsula
- 7 of the homes sold were in The Point
- Lake Norman luxury homes sold in August 2014 ranged in size from 3,220 sq. ft. to 10,760 sq. ft. with an average size of 5,743 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in August 2014 was $245.71/sq. ft.
- Sellers received on average 93.74% of their list price
If you are looking to buy or sell luxury real estate in the Lake Norman area call Aaron at 704-305-9148 or email us at info@marshallteam.com
Click on any of the graphs above to see larger image and print.
*All information deemed reliable, but not guaranteed.
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