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.
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