Lake Norman is Number 1 in Lake Real Estate

Lake Norman Real Estate

Lake Norman is Number 1 in Lake Real Estate

Lake Norman Waterfront Homes for Sale

Lake-Norman-is-Number-1-in-Lake-Real-Estate

By: Kate Stevens – news@mooresvilletribune.com – Dec 1, 2018 – www.MooresvilleTribune.com

Lake Norman is Number 1 in Lake Real Estate – Living the good life on Lake Norman has become increasingly popular.

According to a recent industry report, Lake Norman Real Estate for Sale dominates the lakefront real estate scene in the South.

The 2018 Fall Lake Market Report from LakeHomes.com compiles listing data collected in September for lake real estate property in 14 Southeastern and Mid-Atlantic states, as well as outlier states Texas, Michigan and Connecticut.

According to the report, the Lake Norman Waterfront Homes for Sale market, at $795.2 million, is the nation’s second-largest.

Lake Norman is well ahead of the third-most-lucrative lake real estate market, Lake Lanier in Georgia at $649.2 million, as well as popular vacation destinations Smith Mountain Lake in Virginia, Lake Oconee in Georgia and Lake Keowee in South Carolina.

Overall – the Lake Norman Real Estate Market is second only to Lake Michigan and its gargantuan market value of $1.2 billion, the report said.

“However, to put Lake Norman’s significance in a better perspective, Lake Michigan has more than 1,600 miles of total shoreline compared to Lake Norman’s 520,” said Dezirae Burnett, spokeswoman for Lake Homes Realty, the Birmingham, Alabama-based company behind LakeHomes.com. “With almost 70 percent less shoreline, Lake Norman has only 36 percent fewer listings.”

Lake Norman is the top-ranked. Lake Norman’s $795.2 million market value makes up more than one-quarter of the state’s $2.8 billion total lake real estate market, the report said.

Lake-Norman-Waterfront-Homes-for-Sale

Jordan Lake, just south of Durham, comes in second place with $288.9 million; then Lake Wylie, splitting the North and South Carolina border, with $278.6 million; Lake Gaston, splitting the North Carolina and Virginia border, with $161.8 million; and Chatuge Lake, sharing the Georgia and North Carolina border, with $117.8 million, the report said.

The 2018 Fall Lake Market Report does not include home sales information but reflects Lake Norman Home Values of current listings across each lake’s home and land markets, Burnett said. The publication defines lake real estate as any home, land or lot listing adjacent to a recognized inland body of water, with a view of any of the lake, and with designated access to a lake, or within a community that considers itself a lake-focused community or development.

Lake Norman also is No. 1 in the state in terms of biggest home market ($654.3 million) and biggest land market ($140.9 million), said Burnett.

The Lake Norman lake real estate market also has the highest number of available properties – including residential, commercial and land inventory – with 1,225 listings compared to second-place Lake Gaston with 723 listings, Burnett said.

This is due in part to Lake Norman’s considerable size of 33,000 acres compared to Lake Gaston’s 20,300 acres.

Compared to fall 2017, Lake Norman’s overall lake market value decreased by about 8 percent, likely due to a near 11 percent decrease in home market value, said Burnett. Combined listings last year totaled 1,413 compared to this year’s 1,225, a decrease of about 13 percent. Both residential and land inventories also decreased by about 14 and 12 percent, respectively.

Those declines mirror the trend in the larger Charlotte region, where inventories of available properties continue to shrink.

Despite loss of inventory, the Lake Norman’s land market value actually increased by about 6 percent, indicating that properties that remain on the market are priced higher than those that sold over the last year.

Our Team has noticed that there has been a drop in quality inventory this fall (2018), with people Buying a Home having trouble finding Lake Norman Luxury Homes priced reasonably.

When a lake home is priced reasonably, however, the home tends to sell within 30 days.

Forty-two percent of North Carolina Lake Homes worth more than $1 million are located on Lake Norman, the report said.

Average overall Lake Norman listing prices have remained stable over the past two years while home listings have decreased. As a result, some higher-priced homes have been put up for sale by owners looking to take advantage of favorable market conditions. This has helped the state’s lake real estate market to increase 4 percent even during a typical seasonal decline.

Waterfront-Homes-Lake-Norman-Real-Estate

Market shift? Lake Norman is an attractive and popular destination for several reasons.

The close proximity to Charlotte Real Estate and its international airport is an obvious draw. The Lake Norman area also has quality schools, a bustling economy, hospitals, and strong economic growth and development.

Unlike other U.S. lakes, Lake Norman is an “urban-suburban area.” It is close enough to the mountains, the beach and a major city like Charlotte rather than being isolated in a rural area, she said.

Lake Norman Luxury Homes also offers “resort living without being so commercial.”

Big-city prices are also causing some potential homebuyers to look elsewhere – including Lake Norman.

As demand for homes and home prices continue to rise in Charlotte, for example, “Lake Norman is becoming more and more attractive,”.

Although the current real estate market is stabilizing, with momentum favoring sellers, the market could follow a national trend by shifting into a Home Buyer’s market in 2019, predicted.

Such a shift would be caused in part by increasing mortgage rates, which have already forced Home Sellers to negotiate more than they had been.

The Martin Real Estate Team of Lake Norman

The Martin Real Estate Team of Lake Norman is here to help and answer all of your Real Estate Needs and Questions 7 days a week if you are looking to purchase a home in the greater Lake Norman Area.

Questions, or would you like to receive more information about a Buying a Home for Sale, or interested in Listing your home for Sale, simply fill out the Our Contact Form or for a faster response you can also call the Lake Norman Specialists at 704-900-1619 right now!

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Lake Norman Waterfront Homes

– all active Listings

Lake Norman homes

Listings 1 - 20 of 45 next →

4415 Little Fork Cove Road -- 3 BR, 4.1 BA
Price: $1,450,000 (3995 sqft)
→ More info
John Martin | MLS # 3795363 | Active

150 Peninsula Drive -- 3 BR, 4.1 BA
Price: $1,289,000 (3471 sqft)
→ More info
Paul Yancey | MLS # 3764756 | Active

19129 Serenity Point Lane -- 6 BR, 6.2 BA
Price: $5,497,000 (10435 sqft)
Subdivision: Joys Serenity Point
→ More info
Allen Tate Lake Norman | MLS # 3776981 | Active

151 Easton Drive -- 5 BR, 6.2 BA
Price: $4,500,000 (10677 sqft)
Subdivision: The Point
→ More info
Ben Bowen Properties | MLS # 3751677 | Active

19124 Peninsula Point Drive -- 4 BR, 6.2 BA
Price: $4,500,000 (8910 sqft)
Subdivision: The Peninsula
→ More info
Ivester Jackson | MLS # 3806586 | Active

8451 Ridgewood Road -- 5 BR, 5.2 BA
Price: $3,250,000 (8867 sqft)
→ More info
Lakeshore Realty, Inc. | MLS # 3628933 | Active

8343 Norman Estates Drive -- 5 BR, 6.1 BA
Price: $3,190,000 (8094 sqft)
Subdivision: Norman Estates
→ More info
Ivester Jackson | MLS # 3696146 | Active

183 Crystal Circle -- 3 BR, 5 BA
Price: $2,999,000 (7041 sqft)
Subdivision: Crystal Bay
→ More info
Michael Sullivan | MLS # 3756251 | Active

20217 Riverchase Drive -- 5 BR, 3.2 BA
Price: $2,895,000 (5042 sqft)
Subdivision: Riverchase
→ More info
Carlyle Properties | MLS # 3786062 | Active

16207 Henry Lane -- 5 BR, 5.1 BA
Price: $2,837,600 (5374 sqft)
Subdivision: Gilead Woods
→ More info
Pilot Realty & | MLS # 3703829 | Active

20118 Bascom Ridge Drive -- 6 BR, 6.1 BA
Price: $2,600,000 (7676 sqft)
Subdivision: Crown Harbor
→ More info
Premier Sothebys | MLS # 3800882 | Active

18001 Whispering Oaks Drive -- 5 BR, 6.1 BA
Price: $2,600,000 (5650 sqft)
Subdivision: Point Largo
→ More info
Premier Sothebys | MLS # 3777757 | Active

1995 Capes Cove Drive -- 4 BR, 5 BA
Price: $2,380,000 (6649 sqft)
Subdivision: Northview Harbour
→ More info
J Cash Real Estate | MLS # 3805494 | Active

128 Seabury Drive -- 4 BR, 4.2 BA
Price: $2,050,000 (4992 sqft)
Subdivision: The Point
→ More info
Premier Sothebys | MLS # 3784620 | Active

155 Vineyard Drive -- 5 BR, 4.1 BA
Price: $1,999,999 (5172 sqft)
Subdivision: The Point
→ More info
Keller Williams | MLS # 3803961 | Active

19200 Betty Stough Road -- 4 BR, 4 BA
Price: $1,999,999 (4704 sqft)
Subdivision: Patricks Purchase
→ More info
Premier Sothebys | MLS # 3775340 | Active

2778 Cherry Lane -- 3 BR, 2.1 BA
Price: $1,995,000 (3690 sqft)
→ More info
Ivester Jackson | MLS # 3804210 | Active

20107 Bascom Ridge Drive -- 4 BR, 5.2 BA
Price: $1,900,000 (7422 sqft)
Subdivision: Crown Harbor
→ More info
Premier Sothebys | MLS # 3673218 | Active

7932 Bankhead Road -- 3 BR, 5.1 BA
Price: $1,800,000 (5323 sqft)
→ More info
Lake Norman Realty, | MLS # 3769878 | Active

274 Greenbay Road -- 3 BR, 4.4 BA
Price: $1,750,000 (5000 sqft)
Subdivision: Lake Norman
→ More info
Clickit Realty | MLS # 3809492 | Active

Listings 1 - 20 of 45 next →

Lake Norman Waterfront Condos

– all active Listings

Lake Norman condos

Listings 1 - 6 of 6

18726 Nautical Drive -- 3 BR, 2 BA
Price: $509,000 (1327 sqft)
Complex: Commodores Landing
→ More info
Brigitte Perry | MLS # 3791151 | Active

7511 Mariner Cove Drive -- 3 BR, 2.1 BA
Price: $799,000 (2006 sqft)
Complex: Mariner Villas
→ More info
EXP REALTY LLC | MLS # 3808170 | Active

611 Portside Drive -- 3 BR, 2 BA
Price: $650,000 (1385 sqft)
Complex: Portside
→ More info
Allen Tate Lake Norman | MLS # 3808517 | Active

7423 Mariner Cove Drive -- 3 BR, 3 BA
Price: $645,000 (1808 sqft)
Complex: Mariner Villas
→ More info
Home Realty and | MLS # 3745354 | Active

18879 Vineyard Point Lane -- 2 BR, 2 BA
Price: $399,000 (844 sqft)
Complex: Dockside
→ More info
Wilkinson ERA Real | MLS # 3807531 | Active

18795 Vineyard Point Lane -- 2 BR, 2 BA
Price: $360,000 (900 sqft)
Complex: Vineyard
→ More info
Riley Realty | MLS # 3807940 | Active

Listings 1 - 6 of 6

Lake Norman Real Estate