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.
70% Increase in the Number of Luxury Homes Sold in Lake Norman Area in March
In March 2015, 17 luxury homes sold compared to 10 luxury homes sold in March 2014, a 70% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Down 26%
In March 2015, there was 8.6 months of inventory in the Lake Norman luxury real estate market compared to 11.6 months in March 2014.
Average Time to Sell Luxury Home in the Lake Norman Area is 106 Days
In March 2015, it took 106 days, on average, to sell a luxury home in the Lake Norman area.
Lake Norman Luxury Homes Under Contract Up 46%
In March 2015, 35 luxury homes went under contract in the Lake Norman area compared to 24 in March 2014, marking a 46% increase in year over year numbers.
Lake Norman Median Luxury Home Price Down 37%
This month, we saw a 37% decrease in the median sale price of a luxury home in the Lake Norman area. The median home price in March 2015, when considering homes that sold for $750,000 or more, was $900,000 compared to $1,437,500 in March 2014.
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.
9% More Luxury Homes on the Market in the Lake Norman Area
In March 2015, there were 353 luxury homes for sale in the Lake Norman area compared to 323 in March 2014, marking a 9% increase in year over year numbers.
Luxury Supply is Up 9%, Demand is Up 70%
This month we saw a 9% increase in luxury housing supply (number of properties for sale) and a 70% increase in demand (number of sold properties).
Median For Sale Price Down 1% vs Median Sold Price Down 37%
In the Lake Norman area, we saw a 1% decrease in the median for sale price of a luxury home and a 37% decrease in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in March 2015
More Data on Lake Norman Luxury Home Sales March 2015
- The most expensive luxury home that sold in the Lake Norman area in March 2015 sold for $1,500,000
- 7 homes sold for $1 million or more
- None of the homes that sold were Foreclosures or Short Sales
- 12 of the homes sold were Waterfront
- 4 of the homes sold were in The Point
- 1 of the homes sold was in River Run
- 1 of the homes sold was in Sailview 1 of the homes sold was in The Harbour At The Pointe
- 1 of the homes sold was in Northview Harbour
- Lake Norman luxury homes sold in March 2015 ranged in size from 2,605 sq. ft. to 6,442 sq. ft. with an average size of 4,595 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in March 2015 was $225.39/sq. ft.
- Sellers received on average 94.04% of their list price
Based on data from the Carolina MLS.
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 email@example.com.