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 128 next →

118 Hadley Harbor Court -- 5 BR, 5.1 BA
Price: $4,790,000 (7456 sqft)
Subdivision: The Point
→ More info
Clarke Crawford | MLS # 4120597 | Active

14515 NC Hwy 73 Highway -- 4 BR, 4.1 BA
Price: $4,500,000 (5714 sqft)
Subdivision: Vista Lago
→ More info
Kathy Day | MLS # 4085004 | Active

304 Lakeshore Drive -- 3 BR, 4.1 BA
Price: $3,000,000 (5477 sqft)
Subdivision: Lakeview Shores
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Karen Spruell | MLS # 4164327 | Active

199 Wilson Lake Road -- 4 BR, 4.2 BA
Price: $2,500,000 (4946 sqft)
→ More info
Pauline Williams | MLS # 4138390 | Active

22340 Country Club Lane -- 3 BR, 2.1 BA
Price: $2,150,000 (2328 sqft)
Subdivision: Country Club Shores
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Sean Hill | MLS # 4157665 | Active

7582 Cottonwood Drive -- 4 BR, 4 BA
Price: $1,350,000 (3913 sqft)
Subdivision: Lakewood
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Jim Robb | MLS # 4161592 | Active

126 Emerald Drive -- 4 BR, 2.1 BA
Price: $1,324,126 (3766 sqft)
Subdivision: Diamondhead
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Sandra Dunn | MLS # 4144841 | Active

139 Hollen Lane -- 10 BR, 11.7 BA
Price: $21,999,900 (9870 sqft)
→ More info
Hart Real Estate | MLS # 4096193 | Active

14051 Island Drive -- 5 BR, 6.2 BA
Price: $18,000,000 (12636 sqft)
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Premier Sotheby's | MLS # 4020713 | Active

18019 Harbor Light Boulevard -- 6 BR, 7.4 BA
Price: $16,000,000 (15048 sqft)
Subdivision: The Peninsula
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Premier Sotheby's | MLS # 3895525 | Active

154 Tennessee Circle -- 6 BR, 7.2 BA
Price: $12,500,000 (11112 sqft)
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The Agency - Charlotte | MLS # 4099910 | Active

123 Saylors Watch Lane -- 5 BR, 5.4 BA
Price: $10,400,000 (7754 sqft)
Subdivision: Saylors Watch
→ More info
Corcoran HM Properties | MLS # 4156012 | Active

173 Rehoboth Lane -- 5 BR, 5.3 BA
Price: $9,000,000 (8750 sqft)
Subdivision: The Point
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Lake Norman Cornelius | MLS # 4087619 | Active

18000 Whispering Oaks Drive -- 6 BR, 6.3 BA
Price: $8,000,000 (7524 sqft)
Subdivision: Point Largo
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Corcoran HM Properties | MLS # 4161529 | Active

21437 Country Club Drive -- 6 BR, 6.3 BA
Price: $7,950,000 (8796 sqft)
Subdivision: Country Club Shores
→ More info
Helen Adams Realty | MLS # 4141805 | Active

17807 Largo Place -- 4 BR, 5.1 BA
Price: $7,895,000 (7176 sqft)
→ More info
Re/Max Diamond Realty | MLS # 4123359 | Active

8405 Ranger Island Marina Road -- 5 BR, 6.2 BA
Price: $7,500,000 (6490 sqft)
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Nestlewood Realty, LLC | MLS # 4137705 | Active

406 Morrison Farm Road -- 5 BR, 6.2 BA
Price: $7,499,999 (7085 sqft)
Subdivision: Morrison Pointe North
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COMPASS | MLS # 4161291 | Active

132 Rollingwood Lane -- 4 BR, 5.2 BA
Price: $7,490,000 (6601 sqft)
→ More info
Coldwell Banker Realty | MLS # 4159386 | Active

2477 Peninsula Shores Court -- 5 BR, 5.2 BA
Price: $7,200,000 (6948 sqft)
Subdivision: Norman Estates
→ More info
Premier Sotheby's | MLS # 4147108 | Active

Listings 1 - 20 of 128 next →

Lake Norman Waterfront Condos

– all active Listings

Lake Norman condos

Listings 1 - 17 of 17

18708 Nautical Drive -- 4 BR, 3.1 BA
Price: $1,100,000 (2039 sqft)
Subdivision: Admirals Quarters
→ More info
EXP Realty LLC | MLS # 4162357 | Active

18015 Kings Point Drive -- 3 BR, 3 BA
Price: $1,100,000 (2311 sqft)
Subdivision: Baybridge
→ More info
Stephen Cooley Real | MLS # 4153883 | Active

403 Northwest Drive -- 3 BR, 2.1 BA
Price: $989,900 (1550 sqft)
Complex: North Point
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ERA Live Moore | MLS # 4164532 | Active

637 Williamson Road -- 3 BR, 2 BA
Price: $699,000 (1724 sqft)
Complex: Harbor Point Village
→ More info
Lake Norman Cornelius | MLS # 4154445 | Active

18726 Nautical Drive -- 3 BR, 2 BA
Price: $699,000 (1439 sqft)
Subdivision: Admirals Quarters
→ More info
Keller Williams | MLS # 4148848 | Active

18700 Nautical Drive -- 3 BR, 2 BA
Price: $675,000 (1395 sqft)
Complex: Commodores Landing
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Ivester Jackson | MLS # 4131627 | Active

637 Williamson Road -- 3 BR, 2 BA
Price: $659,900 (1563 sqft)
Complex: Harbor Point Village
→ More info
Berkshire Hathaway | MLS # 4145909 | Active

637 Williamson Road -- 3 BR, 2.1 BA
Price: $649,000 (1602 sqft)
Complex: Harbor Point Village
→ More info
Lake Norman Cornelius | MLS # 4155238 | Active

1233 Torrence Circle -- 3 BR, 2 BA
Price: $635,000 (1401 sqft)
Complex: Davidson Landing
→ More info
Allen Tate SouthPark | MLS # 4152455 | Active

648 Portside Drive -- 2 BR, 2 BA
Price: $620,000 (1076 sqft)
Complex: Portside
→ More info
Allen Tate Lake Norman | MLS # 4158165 | Active

18563 Vineyard Point Lane -- 3 BR, 2 BA
Price: $599,800 (1252 sqft)
Complex: The Moorings
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EXP Realty LLC | MLS # 4129254 | Active

944 Southwest Drive -- 2 BR, 2 BA
Price: $475,000 (944 sqft)
Complex: Southpoint
→ More info
Southern Charm Realty | MLS # 4145573 | Active

108 Pier 33 Drive -- 3 BR, 3 BA
Price: $450,000 (1385 sqft)
Complex: Pier 33
→ More info
RE/MAX Executive | MLS # 4156736 | Active

18009 Kings Point Drive -- 2 BR, 2 BA
Price: $415,000 (922 sqft)
Complex: Baybridge
→ More info
Premier Sotheby's | MLS # 4146779 | Active

18783 Vineyard Point Lane -- 2 BR, 2 BA
Price: $409,000 (856 sqft)
Complex: Vineyard Point
→ More info
Kidd Realty | MLS # 4103813 | Active

18736 Nautical Drive -- 2 BR, 2 BA
Price: $362,500 (1008 sqft)
Complex: Cypress Point
→ More info
EXP Realty LLC | MLS # 4135744 | Active

19831 Henderson Road -- 2 BR, 2 BA
Price: $319,900 (1026 sqft)
Subdivision: Windward
→ More info
Robertson Realty Inc. | MLS # 4148686 | Active

Listings 1 - 17 of 17

Lake Norman Real Estate