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.
29% Decrease in the Number of Luxury Home Sales in Lake Norman in November
In November 2014, 12 luxury homes sold compared to 17 luxury homes sold in November 2013, a 29% decrease in year over year numbers.
Number of Luxury Homes Listed for Sale in Lake Norman Down 40%
In November 2014, there were 21 luxury homes introduced to the market compared to 35 in November 2013, marking a 40% decrease in year over year numbers.
Lake Norman Luxury Housing Inventory Down 16%
In November 2014, there was 14.5 months of inventory in the Lake Norman luxury real estate market compared to 17.3 months in November 2013.
Average Time to Sell Luxury Home in the Lake Norman Area is 165 Days
In November 2014, it took 165 days, on average, to sell a luxury home in the Lake Norman area compared to 169 days in November 2013.
Lake Norman Luxury Homes Under Contract Up 43%
In November 2014, 20 luxury homes went under contract in the Lake Norman area compared to 14 in November 2013, marking a 43% increase in year over year numbers.
Lake Norman Median Luxury Home Price Up 14%
This month, we saw a 14% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in November 2014, when considering homes that sold for $750,000 or more, was $1,038,750 compared to $910,000 in November 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.
11% More Luxury Homes on the Market in the Lake Norman Area
In November 2014, there were 342 luxury homes for sale in the Lake Norman area compared to 309 in November 2013, marking an 11% increase in year over year numbers.
Luxury Supply is Up 11% and Luxury Demand is Down 29%
This month we saw an 11% increase in luxury housing supply (number of properties for sale) and a 29% decrease in luxury demand (number of sold properties).
Median For Sale Price Down 7% vs Median Sold Price Up 14%
In the Lake Norman area, we saw a 7% decrease in the median for sale price of a luxury home and a 14% increase in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in November 2014
More Data on Lake Norman Luxury Home Sales November 2014
- The most expensive luxury home sold in the Lake Norman area in November 2014 sold for $3,600,000
- 7 homes sold for $1 million or more
- None of the homes sold were Foreclosures or Short Sales
- 9 of the homes sold were Waterfront
- 2 of the homes sold were in the West Bay subdivision in Denver
- 1 of the homes sold was in The Peninsula
- 3 of the homes sold were in Cornelius
- 3 of the homes sold were in Mooresville
- Lake Norman luxury homes sold in November 2014 ranged in size from 2,055 sq. ft. to 7,304 sq. ft. with an average size of 5,042 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in November 2014 was $265.49/sq. ft.
- Sellers received on average 94.86% 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.