Posted by: Roby Robertson | October 15, 2008

Lake Norman Real Estate, September 2008 Statistics

 

Lake Norman Real Estate Statistics

Active – 244 Properties Found

Square Feet

Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 600 – 800 1 0 0 $ 50,000 $ 0
17
Avg 3000 – 3600 3 2 0 $ 692,164 $ 0
64
Max 9100 – 10700 7 7 4 $ 5,890,000 $ 0
448
Pending – 34 Properties Found

Square Feet

Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 700 – 1000 0 1 0 $ 19,900 $ 0
1
Avg 2700 – 3300 3 2 0 $ 440,647 $ 0
151
Max 5700 – 6800 5 4 2 $ 1,375,000 $ 0
598
Sold – 69 Properties Found

Square Feet

Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 950 2 1 0 $ 108,875 $ 108,000
1
Avg 3096 3 2 0 $ 532,712 $ 506,650
148
Max 11110 7 5 5 $ 3,695,000 $ 3,675,000
773
Withdrawn – 129 Properties Found

Square Feet

Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 400 – 600 2 1 0 $ 79,900 $ 0
0
Avg 3200 – 3800 3 3 0 $ 752,969 $ 0
165
Max 8100 – 9500 7 7 3 $ 3,599,000 $ 0
647
Expired – 89 Properties Found

Square Feet

Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 800 – 1000 1 1 0 $ 144,900 $ 0
55
Avg 2800 – 3400 3 2 0 $ 669,809 $ 0
191
Max 7600 – 8900 6 6 2 $ 3,800,000 $ 0
458

 

Compare this with last year’s statistics during the same period and you will see a huge difference. 

Lake Norman Active homes in September 2007 = 10 

Lake Norman Pending Homes in September 2007 = 0

Lake Norman Sold homes in September 2007 = 105

Lake Norman Withdrawn listings in September 2007 = 111

Lake Norman Expired Listings in September 2007 = 39

A few things jump out at me when reviewing these numbers.  

  • Active Listings are way up
  • Pendings sales are way down
  • Expired Listings are more than doubled
  • Sold homes are up
  • Withdrawn listings are up

This news is kind of a mixed message because the pendings are way dwon but the sold homs are up.  However what this tells me is three things.  Homes are still selling and it is definately still a buyers market. However, things are not selling near as fast as we are accustomed. Also sellers are not putting the homes back on the market when they expire.  We are starting to see a trend of sellers beginning to play wait and see unless selling is imperative. (another buyers market sign)

What is not shown here is the market breakdown by price.  The high end luxury homes are really struggling.  If you look at the average price per sold and pendings the numbers are coming down.  This is because of the luxury market and the fact that homes 250K and lower are outpacing the higher priced homes in sales.

If you would like information about any of our fantastic Lake Norman Communities,just call your Lake Norman agent at 704 451 7051 or contact by email.

See Also:

Be The First To See Lake Norman Hot New Listings as soon as they become available.

What would my Lake Norman Home Sell For?

Lake Norman Relocation, You Will Want to Consider It

Why Lake Norman is such a great Destination

Roby Robertson

 

Saving My Clients Thousands

Broker/Owner

 

Real Living In Style
Davidson NC

 

roby.robertson@realliving.com
www.LakeNormanRealLiving.com

 

Ph: 704 451 7051
Fax: 704 892 9766

Committed to Saving My Clients Thousands When Buying and Selling Real Estate


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