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.
14% Increase in the Number of Luxury Homes Sold in the Lake Norman Area
In September 2015, 24 luxury homes sold compared to 21 luxury homes sold in September 2014, a 14% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Down 34%
In September 2015, there was 13.2 months of inventory in the Lake Norman luxury real estate market compared to 20.1 months in September 2014.
Average Time to Sell a Luxury Home in the Lake Norman Area is 109 Days
In September 2015, it took 109 days, on average, to sell a luxury home in the Lake Norman area.
25 Lake Norman Luxury Homes Went Under Contract in September
Median Sales Price of a Luxury Home in the Lake Norman Area Up 2%
This month, we saw a 2% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in September 2015, when considering homes that sold for $750,000 or more, was $982,000 compared to $965,000 in September 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 visit LakeNormanHomeValuation.com or contact us at 704-305-9148 for a no obligation home valuation.
2% More Luxury Homes on the Market in the Lake Norman Area
In September 2015, there were 382 luxury homes for sale in the Lake Norman area compared to 376 in September 2014, marking a 2% increase in year over year numbers.
Luxury Supply is Up 2%, Demand is Up 14%
This month we saw a 2% increase in luxury housing supply (number of properties for sale) and a 14% increase in demand (number of sold properties).
Median For Sale Price Down 7% vs Median Sold Price Up 2%
In September, we saw a 7% decrease in the median for sale price of a luxury home in the Lake Norman area and a 2% increase in the median sold price in year over year numbers.