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.
154% Increase in the Number of Luxury Home Sales in Lake Norman
In October 2014, 33 luxury homes sold compared to 13 luxury homes sold in October 2013, a 154% increase in year over year numbers.
Number of Luxury Homes Listed for Sale in Lake Norman Up 47%
In October 2014, there were 47 luxury homes introduced to the market compared to 32 in October 2013, marking a 47% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Up 1%
In October 2014, there was 15.3 months of inventory in the Lake Norman luxury real estate market compared to 15.2 months in October 2013.
Average Time to Sell Luxury Home in the Lake Norman Area is 118 Days
In October 2014, it took 118 days, on average, to sell a luxury home in the Lake Norman area compared to 122 days in October 2013.
Lake Norman Luxury Homes Under Contract Up 17%
In October 2014, 21 luxury homes went under contract in the Lake Norman area compared to 18 in October 2013, marking a 17% increase in year over year numbers.
Lake Norman Median Luxury Home Price Up 8%
This month, we saw an 8% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in October 2014, when considering homes that sold for $750,000 or more, was $930,000 compared to $865,000 in October 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.
15% More Luxury Homes on the Market in the Lake Norman Area
In October 2014, there were 376 luxury homes for sale in the Lake Norman area compared to 327 in October 2013, marking a 15% increase in year over year numbers.
Luxury Supply is Up 15% and Luxury Demand is Up 154%
This month we saw a 15% increase in luxury housing supply (number of properties for sale) and a 154% increase in luxury demand (number of sold properties).
Median For Sale Price Down 7% vs Median Sold Price Up 8%
In the Lake Norman area, we saw a 7% decrease in the median for sale price of a luxury home and an 8% increase in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in October 2014
More Data on Lake Norman Luxury Home Sales October 2014
- The most expensive luxury home sold in the Lake Norman area in October 2014 sold for $2,800,000
- 13 homes sold for $1 million or more
- 3 of the homes that sold were Foreclosures
- 21 of the homes sold were Waterfront
- 1 of the homes sold was in River Run
- 1 of the homes sold was in The Peninsula
- 2 of the homes sold were in The Harbour at the Pointe
- 5 of the homes sold were in The Point
- Lake Norman luxury homes sold in October 2014 ranged in size from 2,297 sq. ft. to 7,804 sq. ft. with an average size of 5,164 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in October 2014 was $219.83/sq. ft.
- Sellers received on average 94.72% of their list price
*Data based on information from the Carolina MLS and Clarus MarketMetrics. All information deemed reliable, but not guaranteed.
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 firstname.lastname@example.org.