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.

91% Increase in the Number of Luxury Home Sales in Lake Norman

In September 2014, 21 luxury homes sold compared to 11 luxury homes sold in September 2013, a 91% increase in year over year numbers.

Number of Luxury Homes Listed for Sale in Lake Norman Up 13%

In September 2014, there were 51 luxury homes introduced to the market compared to 45 in September 2013, marking a 13% increase in year over year numbers.

 Lake Norman Luxury Housing Inventory Up 6%

In September 2014, there was 19.5 months of inventory in the Lake Norman luxury real estate market compared to 18.5 months in September 2013.

Average Time to Sell Luxury Home in the Lake Norman Area is 155 Days

In September 2014, it took 155 days, on average, to sell a luxury home in the Lake Norman area compared to 146 days in September 2013.

Lake Norman Luxury Homes Under Contract Up 6%

In September 2014, 17 luxury homes went under contract in the Lake Norman area compared to 16 in September 2013, marking a 6% increase in year over year numbers.

Lake Norman Median Luxury Home Price Down 14%

This month, we saw a 14% decrease in the median sale price of a luxury home in the Lake Norman area. The median home price in September, when considering homes that sold for $750,000 or more, was $965,000 compared to $1,125,000 in September 2013.

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 September 2014, there were 388 luxury homes for sale in the Lake Norman area compared to 338 in September 2013, marking a 15% increase in year over year numbers.

Luxury Supply is Up 15% and Luxury Demand is Up 91%

This month we saw a 15% increase in luxury housing supply (number of properties for sale) and a 91% increase in luxury demand (number of sold properties).

Median Sold Price Down 14%

In the Lake Norman area, we saw no change in the median for sale price of a luxury home and a 14% decrease in the median sold price of a luxury home in year over year numbers.

Map of Lake Norman Luxury Homes Sold in September 2014

More Data on Lake Norman Luxury Home Sales September 2014

• The most expensive luxury home sold in the Lake Norman area in September 2014 sold for $3,750,000
• 10 homes sold for $1 million or more
• 2 of the homes that sold were Foreclosures
• 17 of the homes sold were Waterfront
• 1 of the homes sold was in Pebble Bay
• 2 of the homes sold were in The Point
• 5 of the homes sold were in The Peninsula
• Lake Norman luxury homes sold in September 2014 ranged in size from 3,728 sq. ft. to 9,116 sq. ft. with an average size of 5,643 sq. ft.
• The average price per square foot for a luxury home that sold in the Lake Norman area in September 2014 was $224.96/sq. ft.
• Sellers received on average 94.66% of their list price

*Data based on information from the Carolina MLS and Clarus MarketMetrics. 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.