Charlotte is the second fasting growing city in the country. North Carolina is the sixth fastest growing state. Home sales activity in the greater Charlotte market continue to be quite strong in terms of both dollars and units. The areas, on and around Lake Norman in particular, have seen a strong increase in activity and prices, coupled with a major decrease in inventory on hand. Multiple offers are no longer uncommon. This is still considered an affordable housing market and there are still good values to be found, but competition for good properties is strong in this Sellers' market. Homes in popular neighborhoods sell very quickly.
These three charts for the last 5 years sum up what I've seen. This is for single family homes across all price ranges on or within about 10 minutes of Lake Norman. Demand continues to increase, while number of homes for sale decreases. That leads to fewer days on market and homes selling for close to asking price, or more! Buyers want to be prepared to jump when they find the right home and make a strong offer. Working with an agent that knows the market is essential.
The percentage of properties sold recently that were either Foreclosures or Short Sales is staying around 1.2%. This has become such an insignificant percentage of total home sales that it is not worthy of much discussion.
The Charts below tell the story.
2017 stats show a continued strong market with all indicators up: more sales, increased prices, lower inventory, fewer days on market, and fewer distressed sales. The average sales price was 96.9% of the original list price.
These stats are for the entire greater Charlotte market. Sub-sections of the market, such as Lake Norman waterfront, can have significantly different data.
Based on information from the Carolina Multiple Listing Services, Inc. for the entire MLS area.
Growing: Census data for 2000 to 2010 verifies what we all sensed. The greater Charlotte urban area (which includes the Lake Norman area) grew by 64.6%. That's the largest increase in the country for areas with one million people or more. Surrounding counties also saw large population growth. This area continues to be one of the most popular destinations for people moving by choice.
There are always some home sellers that are motivated to deal for one reason or another. Buyers who are educated and have cash or loan pre-approvals and are able to close quickly without contingencies will get the best deals. The opportunities are still very good for home buyers in the Charlotte area who work with an experienced Agent that knows the market.
While rates change daily, Lenders are still reporting rates under 5% on 30-year fixed rate conforming mortgages. Lots of mortgage options and terms are being offered. I can suggest lenders that can explain all of your options and will compete for your business. Don't delay. Rates are on the rise.
Charlotte is a year-round housing market. With over 200 of the Fortune 500 companies having major offices in Charlotte, there are always people being transferred in and out of the area. Buyers can usually find a decent selection of homes for sale at all times of the year, but like everywhere, the inventory of available homes peaks just before schools let out. With the peak in inventory comes a much bigger increase in the number of buyers competing for the best properties. There is no one best time to be a buyer.
Depending on where you are moving from, you may or may not find the housing market here different from what you are accustomed to. As your Buyer's Agent, I will guide you through all the options available to you.
Waterfront homes sell for a premium in all markets, and the greater Charlotte market is no exception. Lake Norman ranks as the number one lakefront market in the entire southeast. However, there are still decent values on waterfront property to be had. The key is to work with an agent that really understands the market and be prepared to act quickly. I monitor the entire waterfront segment very closely. Contact me today if you'd like assistance finding the best waterfront deals in this market.
Just to give you some idea:
The "average" waterfront stick-built homes (not mobile/modular) with a dock/pier on Lake Norman sold in 2018 south of the State Park was: a 4-bedroom, 3.5-bath, 4730 square foot home, built it 1995, and sold for $1,247,954.
There are very few decent vacant waterfront lots available any more. We are seeing a marked increase in the price of waterfront homes being bought as tear-downs. It is fairly common now for buyers at Lake Norman to spend $500,000 to $800,000 on a property that includes an older or mobile home or that they plan to tear-down to build a new waterfront home. I have had folks spend hundreds of thousands for a property with plans tear-down the existing home.
...it's rarely a foreclosure. No matter what you are looking for I can help. Your first home? Your dream home? Down-sizing? Bare land to build on? Condo or townhome? Investment property? No matter what your budget, I will find you the best deals available anywhere, in the greater Charlotte, or Lake Norman market. I can tell you the average prices of homes sold in your target areas. For example, if you want to buy a 4-bedroom, 2.5 bath house with a 2-car garage off-water in Huntersville, but you can only afford to spend $275,000 (10.2% below the market average), I will show you all of your options, but you may need to prioritize your wish-list. Expect there to be trade-offs in every budget. Larger lots, for instance, can greatly increase the cost of a home in this market where land is at a premium. When we meet to start seeing homes, I will provide you with much more detailed market information specific to your home preferences. I will work with you to ensure you have all the information you need to make an informed buying decision and an investment that will appreciate. No matter how long it takes, I will find the house that is "meant-to-be" yours!
Trilogy Lake Norman is a 55 and better community near Lake Norman featuring an exciting lifestyle and stunning landscape . At the heart of this community is the spectacul...
Listing courtesy of Shea Communities Marketing Company
Sold listing courtesy of Helen Adams Realty
None
Listing courtesy of Allen Tate Lake Norman
Sold listing courtesy of Allen Tate Lake Norman
Custom-built Craftsman home with a showstopper backyard oasis! The amazing designer saltwater pool includes pebble tech, entry ramp, varying depths, multiple waterfalls, ...
Listing courtesy of Keller Williams Unified
Sold listing courtesy of Premier Sothebys International Realty
They don't get much cuter than this...adorable, well-maintained single-family home with rocking chair front porch in desirable Alexander Chase neighborhood! Enjoy the coz...
Listing courtesy of EXP Realty LLC Mooresville
Sold listing courtesy of EXP Realty LLC Mooresville
STOP! This is your Charleston home in the heart of Cornelius. Well cared for and loved home ready for a new owner. Your dream neighborhood awaits just in time to enjoy th...
Listing courtesy of Allen Tate Lake Norman
Sold listing courtesy of Allen Tate Lake Norman
Lock-and-go townhome on the 12th fairway of Mooresville Golf Club. Maintenance free living at its finest! Nestled in in the heart of Mooresville, this quaint community of...
Listing courtesy of Southern Homes of the Carolinas
Sold listing courtesy of LKN Real Estate Experts, LLC
Location, Location, Location. Looking for a place that is close to the Park for kids to play yet, a hop and skip to the lake? look no further.. This beautiful home w/wrap...
Listing courtesy of Century 21 Lawrie Lawrence
Sold listing courtesy of Main Street Renewal, LLC
Welcome Home! This new construction home will WOW you with its open floor plan and large private lot. With NO HOA and the ease of Iredell county taxes, this home is the p...
Listing courtesy of Allen Tate Lake Norman
Sold listing courtesy of EXP Realty LLC Mooresville
*** Multiple Offers - Highest & Best Sunday by 5 *** Fantastic, turnkey upper level condo in downtown Cornelius. Upgraded kitchen countertops, custom wood flooring throug...
Listing courtesy of Z1 Realty
Sold listing courtesy of Keller Williams South Park
Your Lake Norman getaway awaits! This cozy waterfront home is set near the point of Webbs Chapel Church Rd and offers SPECTACULAR 180° views with 158' of rip rapped shore...
Listing courtesy of Southern Homes of the Carolinas
Sold listing courtesy of Reside Realty LLC
Spectacular condo in Stone Bluff subdivision with sweeping views of Lake Norman. This amazing 3 bedroom 2 bath home has it all. Hardwood floors and carpet throughout. Kit...
Listing courtesy of Carolina Real Estate Experts The Dan Jones Group I
Sold listing courtesy of Southern Homes of the Carolinas
Fabulous full brick home in prime Cornelius location! This gorgeous home has the charm and updates you have been waiting for. Meticulous and turnkey home ready for you w/...
Listing courtesy of Southern Homes of the Carolinas
Sold listing courtesy of Corcoran HM Properties
Approx 2 Acres on Lake Norman with approx 370' of shoreline. Country Living on the Lake with this beautiful - well maintained - Spivey Built - Farmhouse with metal roof....
Listing courtesy of Magnolia Real Estate
Sold listing courtesy of Lake & Town Realty
Rare opportunity to own a gorgeous home in Walden Ridge! This neighborhood is minutes to downtown Mooresville, the brand new Publix and Davidson. This is Beautifully main...
Listing courtesy of LKNHomes.com Inc
Sold listing courtesy of Allen Tate Davidson
Spacious home in sought after Cornelius area. Warm up by the fireplace in the 2 story family room. Kitchen features granite countertops and beautiful cabinets. Kitchen a...
Listing courtesy of Genesis Realty Company
Sold listing courtesy of Coldwell Banker Realty
“ Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Some IDX listings have been excluded from this website. Properties may or may not be listed by the office/agent presenting the information © 2022 Canopy MLS as distributed by MLS GRID”
Last Updated: