Posted by: Roby Robertson | October 27, 2009

Lake Norman Real Estate; October 2009 Upswing

Lake Norman;Calif. Resale Prices Rise For 7th Month, So What!

From Inman News: The California statewide median resale home price rose for the seventh straight month in September, while the pace of single-family sales of previously owned homes was up 0.6 percent from the prior month and up 2.1 percent compared to the same month last year, the California Association of Realtors reported Monday 10/26.

I can tell you why so what!   If you follow trends in real estate, fashion and lifestyle many things start in California and migrate East.  You may recall the fall-out from the real estate market had it first big BUST in California.  Seeing that market make an upward trend is yet another indication that we are on a rebound.   While it is still going to take quite some time to get back to what we at Lake Norman feel are normal levels, at least we are now getting positive news.

Below are the statistics for October sold homes in 2008.

Sold – 55 Properties Found

Square Feet Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 824 2 1 0 $ // 54,900 $ // 40,000
1
Avg 3071 3 2 0 $ // 490,996 $ // 464,026
138
Max 7400 5 6 3 $ // 1,659,000 $ // 1,550,000
931

 

These are the sold home for October 2009.

Sold – 72 Properties Found

Square Feet Bedrooms Full Baths Half Baths List Price Sale Price Days On Market
Min 1000 3 1 0 $ // 115,000 $ // 104,500
1
Avg 3392 3 2 0 $ // 549,118 $ // 513,997
186
Max 9321 6 6 2 $ // 2,841,597 $ // 2,841,597
973

Notice that the sales figures are up.  Admittedly some of this is due directly to the Tax Credit.  It is a good sign, however for all buyers and seller of Lake Norman Real Estate.   Two other numbers to look at.  In 2009 the Days on the Market average is higher by almost 50 days.  Actually this is not so surprising in this market.  Also notice that the average sales price is also higher.  We hope that this is a trend showing that Lenders are actually lending money, albeit painfully!

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