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.
10% Decrease in the Number of Luxury Homes Sold in the Lake Norman Area
In December 2015, 18 luxury homes sold compared to 20 luxury homes sold in December 2014, a 10% decrease in year over year numbers.
Lake Norman Luxury Housing Inventory Down 40%
In December 2015, there was 16.5 months of inventory in the Lake Norman luxury real estate market compared to 27.7 months in December 2014.
Average Time to Sell a Luxury Home in the Lake Norman Area is 160 Days
In December 2015, it took 160 days, on average, to sell a luxury home in the Lake Norman area.
16 Lake Norman Luxury Homes Went Under Contract in December
Median Sales Price of a Luxury Home in the Lake Norman Area Down 15%
This month, we saw a 15% decrease in the median sale price of a luxury home in the Lake Norman area. The median home price in December 2015, when considering homes that sold for $750,000 or more, was $930,510 compared to $1,097,500 in December 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.
4% More Luxury Homes on the Market in the Lake Norman Area
In December 2015, there were 309 luxury homes for sale in the Lake Norman area compared to 296 in December 2014, marking a 4% increase in year over year numbers.
Luxury Supply is Up 4%, Demand is Down 10%
This month we saw a 4% increase in luxury housing supply (number of properties for sale) and a 10% decrease in demand (number of sold properties).
Median For Sale Price Up 8% vs Median Sold Price Down 15%
In December, we saw an 8% increase in the median for sale price of a luxury home in the Lake Norman area and a 15% decrease in the median sold price in year over year numbers.
Lake Norman Luxury Homes Sold December 2015
- The most expensive home that sold in the Lake Norman area in December 2015 sold for $3,700,000
- 9 homes sold for $1 million or more
- 1 of the homes that sold was a Short Sale, None were Foreclosures
- 12 of the homes sold were Waterfront
- 2 of the homes sold were in The Point
- 1 of the homes sold was in The Peninsula
- 1 of the homes sold was in The Harbour at the Pointe
- Lake Norman luxury homes sold in December 2015 ranged in size from 2,718 sq. ft. to 9,866 sq. ft. with an average size of 5,102 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in December 2015 was $237.26/sq. ft.
- Sellers received on average 94.28% of their list price