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.
52% Increase in the Number of Luxury Homes Sold in the Lake Norman Area in July
In July 2015, 41 luxury homes sold compared to 27 luxury homes sold in July 2014, a 52% increase in year over year numbers.
Lake Norman Luxury Housing Inventory Up 7%
In July 2015, there was 11.9 months of inventory in the Lake Norman luxury real estate market compared to 11.1 months in July 2014.
Average Time to Sell a Luxury Home in the Lake Norman Area is 139 Days
In July 2015, it took 139 days, on average, to sell a luxury home in the Lake Norman area.
30 Lake Norman Luxury Homes Went Under Contract in July
Median Sales Price of a Luxury Home in the Lake Norman Area Down 7%
This month, we saw a 7% decrease in the median sale price of a luxury home in the Lake Norman area. The median home price in July 2015, when considering homes that sold for $750,000 or more, was $895,999 compared to $965,000 in July 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.
8% More Luxury Homes on the Market in the Lake Norman Area
In July 2015, there were 416 luxury homes for sale in the Lake Norman area compared to 384 in July 2014, marking an 8% increase in year over year numbers.
Luxury Supply is Up 8%, Demand is Up 52%
This month we saw an 8% increase in luxury housing supply (number of properties for sale) and a 52% increase in demand (number of sold properties).
Median For Sale Price Down 7% vs Median Sold Price Down 7%
In July, we saw a 7% decrease in the median for sale price of a luxury home in the Lake Norman area and a 7% decrease in the median sold price in year over year numbers.
Map of Lake Norman Luxury Homes Sold in July 2015
More Data on Lake Norman Luxury Homes Sold in July 2015
- The most expensive home that sold in the Lake Norman area in July 2015 sold for $3,700,000
- 16 homes sold for $1 million or more
- None of the homes that sold were Short Sales, 1 was a Foreclosure
- 23 of the homes sold were Waterfront
- 11 of the homes sold were in The Point
- 6 of the homes sold were in The Peninsula
- 3 of the homes sold were in River Run
- 2 of the homes sold were in NorthView Harbour
- 1 of the homes sold was in Sailview
- Lake Norman luxury homes sold in July 2015 ranged in size from2,902 sq. ft. to 9,522 sq. ft. with an average size of 5,348 sq. ft.
- The average price per square foot for a luxury home that sold in the Lake Norman area in July 2015 was $209.84/sq. ft.
- Sellers received on average 96.24% 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.
