The Lake Norman area has slightly more than a quarter of the Charlotte region’s inventory of luxury homes. Many people look to Lake Norman to determine how well luxury homes (homes priced $1 Million or higher) are selling. The Lake Norman luxury home market is gaining momentum. Prices are great and interests rates are low. The inventory of Lake Norman luxury homes (homes priced $1 Million or more) has dropped from a 16-month supply in mid 2011 to a 10-month supply, indicating that demand is growing. Also, the area’s median sales price has risen 18 percent in the past year.
Following are some statistics on the Lake Norman luxury home market:
Homes sold for $1 Million or more in Lake Norman by year
2006: 118
2007: 112
2008: 62
2009: 61
2010: 71
2011: 76
2012: 89
2013 (Jan. – June): 47
Source: Charlotte Regional Realtor Association