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.
8% Increase in the Number of Luxury Homes Sold in Lake Norman Area in February
In February 2015, 13 luxury homes sold compared to 12 luxury homes sold in February 2014, an 8% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Down 5%
In February 2015, there was 15.9 months of inventory in the Lake Norman luxury real estate market compared to 16.7 months in February 2014.
Average Time to Sell Luxury Home in the Lake Norman Area is 99 Days
In February 2015, it took 99 days, on average, to sell a luxury home in the Lake Norman area.
Lake Norman Luxury Homes Under Contract Up 21%
In February 2015, 17 luxury homes went under contract in the Lake Norman area compared to 14 in February 2014, marking a 21% increase in year over year numbers.
Lake Norman Median Luxury Home Price Up 33%
This month, we saw a 33% increase in the median sale price of a luxury home in the Lake Norman area. The median home price in February 2015, when considering homes that sold for $750,000 or more, was $1,170,000 compared to $877,750 in February 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.
15% More Luxury Homes on the Market in the Lake Norman Area
In February 2015, there were 302 luxury homes for sale in the Lake Norman area compared to 263 in February 2014, marking a 15% increase in year over year numbers.
Luxury Supply is Up 15%, Demand is Up 8%
This month we saw a 15% increase in luxury housing supply (number of properties for sale) and an 8% increase in demand (number of sold properties).
Median For Sale Price Down 15% vs Median Sold Price Up 33%
In the Lake Norman area, we saw a 15% decrease in the median for sale price of a luxury home and a 33% increase in the median sold price of a luxury home in year over year numbers.
Map of Lake Norman Luxury Homes Sold in February 2015
More Data on Lake Norman Luxury Home Sales February 2015
- The most expensive luxury home that sold in the Lake Norman area in February 2015 sold for $2,200,000
- 7 homes sold for $1 million or more
- None of the homes that sold were Foreclosures or Short Sales
- 10 of the homes sold were Waterfront
- 2 of the homes sold were in River Run
- 2 of the homes sold were in The Point
- 1 of the homes sold was in The Peninsula
- Lake Norman luxury homes sold in February 2015 ranged in size from 3,174 sq. ft. to 7,024 sq. ft. with an average size of 4,722 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in February 2015 was $261.33/sq. ft.
- Sellers received on average 94.83% 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 info@marshallteam.com.
