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 87 next →

211 Quaker Road -- 4 BR, 3.1 BA
Price: $3,999,995 (5428 sqft)
Subdivision: The Point
→ More info
Dom DeMatteo | MLS # 3880177 | Active

200 Cape Cod Way -- 4 BR, 5.1 BA
Price: $2,999,999 (5833 sqft)
Subdivision: The Point
→ More info
Dom DeMatteo | MLS # 3903989 | Active

2768 Paradise Cove -- 5 BR, 4.1 BA
Price: $1,700,000 (4897 sqft)
→ More info
David Henderson | MLS # 3897552 | Active

20521 Lagoona Drive -- 3 BR, 2.1 BA
Price: $1,550,000 (2263 sqft)
Subdivision: Biscayne Park
→ More info
Bobbie Little | MLS # 3909879 | Active

7545 Windy Pine Circle -- 3 BR, 2.1 BA
Price: $650,000 (2538 sqft)
Subdivision: Sandpiper Bay
→ More info
Karen Edmondson | MLS # 3908854 | Active

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

114 Nautical Point Court -- 5 BR, 6.1 BA
Price: $4,500,000 (11714 sqft)
Subdivision: Nautical Point
→ More info
Ivester Jackson | MLS # 3901052 | Active

20345 Enclave Oaks Court -- 6 BR, 6.1 BA
Price: $4,350,000 (7780 sqft)
Subdivision: Enclave
→ More info
Premier Sotheby's | MLS # 3894844 | Active

151 Easton Drive -- 5 BR, 6.2 BA
Price: $4,200,000 (10713 sqft)
Subdivision: The Point
→ More info
Premier Sotheby's | MLS # 3898371 | Active

125 Pointe Harbour Lane -- 4 BR, 5.1 BA
Price: $4,199,000 (6510 sqft)
Subdivision: The Harbour at the Pointe
→ More info
Century 21 Lawrie | MLS # 3874862 | Active

17811 Largo Place -- 5 BR, 4.2 BA
Price: $4,199,000 (6455 sqft)
→ More info
Fathom Realty | MLS # 3905895 | Active

18121 John Connor Road -- 5 BR, 5.1 BA
Price: $3,999,000 (5403 sqft)
→ More info
Ivester Jackson | MLS # 3871330 | Active

18432 Balmore Pines Lane -- 4 BR, 5.1 BA
Price: $3,950,000 (7245 sqft)
Subdivision: The Peninsula
→ More info
Carlyle Properties | MLS # 3891627 | Active

251 Gainswood Drive -- 4 BR, 3.1 BA
Price: $3,900,000 (4532 sqft)
→ More info
Southern Charm Realty | MLS # 3897865 | Active

22531 Torrence Chapel Road -- 5 BR, 6.1 BA
Price: $3,750,000 (7472 sqft)
Subdivision: Country Club Shores
→ More info
Keller Williams Lake | MLS # 3881699 | Active

447 Tuskarora Trail -- 4 BR, 5.1 BA
Price: $3,500,000 (6247 sqft)
→ More info
COVO REALTY | MLS # 3898680 | Active

18210 Town Harbour Road -- 4 BR, 2.1 BA
Price: $3,495,000 (6632 sqft)
Subdivision: The Peninsula
→ More info
NextHome World Class | MLS # 3899155 | Active

127 Cades Cove Lane -- 4 BR, 4.1 BA
Price: $3,450,000 (7349 sqft)
Subdivision: The Harbour at the Pointe
→ More info
Corcoran HM Properties | MLS # 3898609 | Active

17326 Connor Quay Court -- 5 BR, 6.1 BA
Price: $3,395,000 (6542 sqft)
Subdivision: Connor Quay
→ More info
Premier Sotheby's | MLS # 3865546 | Active

18612 Balmore Pines Lane -- 4 BR, 4 BA
Price: $3,100,000 (4681 sqft)
→ More info
Select Premium | MLS # 3866356 | Active

Listings 1 - 20 of 87 next →

Lake Norman Waterfront Condos

– all active Listings

Lake Norman condos

Listings 1 - 8 of 8

18651 Vineyard Point Lane -- 3 BR, 2 BA
Price: $654,500 (1285 sqft)
Complex: The Moorings
→ More info
John Rhodes | MLS # 3893733 | Active

20115 Henderson Road -- 2 BR, 2 BA
Price: $334,900 (1050 sqft)
Complex: Windward
→ More info
John Rhodes | MLS # 3911549 | Active

637 Williamson Road -- 3 BR, 2 BA
Price: $725,000 (1784 sqft)
Complex: Harbor Point Village
→ More info
Keller Williams | MLS # 3907295 | Active

20407 Harborgate Court -- 3 BR, 2 BA
Price: $645,000 (1347 sqft)
Complex: Harborgate
→ More info
Choquette Properties | MLS # 3909006 | Active

7835 Village Harbor Drive -- 2 BR, 2 BA
Price: $504,900 (1159 sqft)
Complex: Villages at Harborside
→ More info
EXP Realty LLC | MLS # 3905733 | Active

18840 Nautical Drive -- 3 BR, 2 BA
Price: $450,000 (1277 sqft)
Complex: Admirals Quarters
→ More info
Cottingham Chalk | MLS # 3905492 | Active

18845 Vineyard Point Lane -- 2 BR, 2 BA
Price: $354,527 (891 sqft)
Complex: Dockside
→ More info
Keller Williams Lake | MLS # 3896806 | Active

108 Pier 33 Drive -- 2 BR, 2 BA
Price: $349,000 (1230 sqft)
Complex: Pier 33
→ More info
EXP Realty LLC | MLS # 3909463 | Active

Listings 1 - 8 of 8

Lake Norman Real Estate