Real Estate Market Update for

 

Lake Norman North Carolina, MLS Area 13

 

Including the cities of Mooresville, Cornelius, Huntersville, Denver, Terrell, Statesville, and Sherrills Ford

Data gathered for November 1 - November 30, 2009

New Listings 170

In comparison to: -32.27% October | -13.71% 2008 | -32.81% 2007 | -23.08% 2006 | -11.46% 2005

Pending Sales: 67

In comparison to: -21.18% October | +1.52% 2008 | -11.84% 2007 | -51.45%
 2006 | -42.24% 2005

Sold Listings: 57

In comparison to: -28.75% October | +18.75% 2008 | -37.36% 2007 | -46.23% 2006 | -95.74% 2005

Average Sold Price: $433,585

In comparison to: -4.9% October | +2.82% 2008 | -11.49% 2007 | -13.48% 2006 | -16.45% 2005

Median Sales Price: $287,000 (comprised of both single family, condos, and town homes)

Average Days on Market until Contract: 167

In comparison to: -4.57% October | +11.33% 2008 | +38.02% 2007

Seller Concessions:

32% of the single family homes that closed in Lake Norman during November offered a seller concession, averaging $4,332.

Buyer Financing:

  • Conventional: 32
  • FHA: 6
  • Cash: 13
  • VA: 1
  • FMHA: 1
  • Owner Financing: 2
  • Other: 2

Tax Value as compared to Sold Price

In November, homes in Lake Norman closed at 193.92% of the assessed property tax value.

Percentage of Listed Price Received

Sellers in Lake Norman received 90.16% of their original asking price for the sales in November. When concessions are subtracted from the sales price, the figure drops to 94.50%.  Of the homes that sold in less than 99 days, those sellers received 94.5% of their asking price while homes on the market for more than 100 days yielded only a 87.22% return of the original asking price.

Lake Norman Waterfront Homes