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.
26% Decrease in the Number of Luxury Homes Sold in the Lake Norman Area
In October 2015, 25 luxury homes sold compared to 34 luxury homes sold in October 2014, a 26% decrease in year over year numbers.
Lake Norman Luxury Housing Inventory Up 1%
In October 2015, there was 16.3 months of inventory in the Lake Norman luxury real estate market compared to 16.2 months in October 2014.
Average Time to Sell a Luxury Home in the Lake Norman Area is 111 Days
In October 2015, it took 111 days, on average, to sell a luxury home in the Lake Norman area.
19 Lake Norman Luxury Homes Went Under Contract in October
Median Sales Price of a Luxury Home in the Lake Norman Area
The median home price in October 2015, when considering homes that sold for $750,000 or more, was $950,200 compared to $952,500 in October 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 visitLakeNormanHomeValuation.com or contact us at 704-305-9148 for a no obligation home valuation.
3% More Luxury Homes on the Market in the Lake Norman Area
In October 2015, there were 368 luxury homes for sale in the Lake Norman area compared to 359 in October 2014, marking a 3% increase in year over year numbers.
Luxury Supply is Up 3%, Demand is Down 26%
This month we saw a 3% increase in luxury housing supply (number of properties for sale) and a 26% decrease in demand (number of sold properties).
Median For Sale Price vs Median Sold Price