Lake Norman waterfront home prices

Lake Norman Waterfront Real Estate Market Review 2016

2016 Lake Norman Waterfront Real Estate Market Review

Lake Norman Waterfront Homes

The Lake Norman waterfront real estate market saw a 20% increase in closed sales from 2015 and the highest total on record. Higher pricing and lower inventory did not hinder the Lake Norman waterfront real estate market in 2016.

The median sales price saw a moderate increase from 2015 (3%) and increased for the fifth year in a row. I don’t put much stock in median sales price as it is just the sold price of the middle home (#238) that sold in 2016 and does not account for location, size, # beds/baths, etc.

The average sales price saw a slight increase from 2015 (2.7%). Lower inventory, younger buyers and a higher price per square foot are the main reasons for the minimal increase in average sales price.

The average days on the market decreased 21 days (16.8%) from 2015. A significant decrease in market time from 2015.

The average price per square foot saw a slight increase (2.2%) from 2015 and maintained its highest level since 2008. The trend toward smaller homes has helped to increase this number over the past 6 years.

Lake Norman waterfront home owners also saw a significant increase (5%) in the average % of asking price, with homes selling for 96% of the original list price. Aggressive pricing and multiple offer situations have helped sellers get a higher list-to-sales price percentage.

In review, the market was strong for Lake Norman waterfront real estate even with limited inventory.

We expect to see similar gains in 2017. Interest rates have stayed low and are expected to stay around 5% this year. If trends continue as we expect the Lake Norman waterfront real estate  market will continue to recover through 2017.

Lake Norman Real Estate Update

Lake Norman Waterfront Real Estate Market Review 2015

2015 Lake Norman Waterfront Real Estate Market Review

Lake Norman Waterfront Homes

The Lake Norman waterfront real estate market saw its first decrease in closed sales after 6 years of increased closed sales. Higher pricing and lower inventory hindered the Lake Norman waterfront real estate market in 2015.

The median sales price saw a moderate increase from 2014 (1%) and increased for the fifth year in a row.

The average sales price saw a slight decrease from 2014 (3%). Lower inventory, younger buyers and a higher price per square foot are the main reasons for the decrease in average sales price.

The average days on the market increased 6 days (5%) from 2014.

The average price per square foot saw a slight increase (3.6%) from 2014 and maintained its highest level since 2008.

Lake Norman waterfront home owners also saw a slight decrease (.2%) in the average % of asking price, with homes selling for 91% of the original list price.

In review, the market was mixed for Lake Norman waterfront real estate with several increases and several decreases.

We expect to see greater gains in 2015. Interest rates have stayed low and are expected to stay under 5% this year. Median home prices have gone up and foreclosure inventories are down. If trends continue as we expecte the market will continue to recover through 2016.

Mooresville ranch for sale

SOLD – Price Adjusted: Mooresville Ranch in Lake Access Community

Price : $225,000.00
Bedrooms : 3
Bathrooms : 2.00
Square Foot : 2,073
Lot Size : 26,572 sq.ft.
Community : Wyndham Shores
County : Iredell
Property Type : Single Family
Year Built : 1996
MLS Number : 3096113

click for more information and pictures

Property Description
Spacious Ranch Home with Lake Access! Oversize Great Room & Sun Room feature transom windows for lots of light! Large Kitchen with center island & Breakfast area. Vaulted Owners Suite with 2 closets, garden tub & separate shower. Large Fenced Backyard with storage shed. Heated Garage! New Roof 2012. Community Features Boat Ramp, 2 Pools (one with splash pool) & Boat Storage. Walk to Lake Norman Elementary! Convenient to Shopping, Dining, Schools & I-77.
Features List
  • Ranch Home
  • 3 Bedrooms
  • 2 Baths
  • 2073 Sqft
  • 2 Car Garage
  • Fenced Yard
  • Large Deck
  • Storage Building
  • Garden Area
  • Eat-In Kitchen
  • Kitchen Island
  • Breakfast Area
  • Dining Area
  • Vaulted Owners Suite
  • 4 Piece Owners Bath
  • 2 Community Pools
  • Community Kiddie Poo
  • Community Boat Ramp
  • Lake Norman Schools!
  • Location
Equal Housing Opportunity.

Southern Homes of the Carolinas : 134 I Town Center Dr – Mooresville, : 704-907-7907


homes for sale

Listings 1 - 0 of 0


Listings 1 - 0 of 0

Lake Norman Real Estate Update

Lake Norman Waterfront Real Estate Year in Review For 2014

2014 Lake Norman Waterfront Real Estate Market Review

Lake Norman Waterfront Homes

The Lake Norman waterfront real estate market saw its 6th straight year of increased closed sales. And the highest number of closed sales since 2005. The recovery is well under way. The properly priced waterfront homes are receiving multiple offers and do not stay on the market very long.

The median sales price saw a moderate increase from 2013 (5.3%) but reached its highest level since 2009.

The average sales price saw a strong increase from 2013 (6.8%) and reached its highest level since 2009.

The average days on the market decreased 19.6% and was the lowest market time since 2009.

The average price per square foot saw a slight increase (2.3%) from 2013 but reached its highest level since 2008.

Lake Norman waterfront home owners also saw a slight increase (.6%) in the average % of asking price, with homes selling for 91.2% of the original list price. This was also the highest % of original price since 2007.

So, in review, every statistical indicator for the Lake Norman waterfront real estate market saw an increase from 2013 with several reaching the highest they’ve been since before the market crashed in 2008.

I expect to see similar gains in 2015. Interest rates have stayed low and are expected to stay under 5% this year, median home prices have gone up and foreclosure inventories are down. If trends continue as expected, the market will continue to recover through 2015.