Lake Norman NC Real Estate Market Report

Real Estate Agent with RE/MAX EXECUTIVE 224284

Lake Norman is real estate is slow right now. October 2007.

What did I do this week? Not much. I had another listing expire from the market. That makes it about 2 in the last couple months. However, I am going on 3 new listing appointments this coming week. In this more difficult market, I feel it is very important to have plenty of fresh properties to sell, it helps to keep me motivated. Lately, My clients keep asking me why my properties on my website aren't changing!!! What do you say, other than, they aren't selling? My new listings will be Here: . One will be in The Point, and one will be in Vineyard Point, and one maybe in Troutman (commercial listing for lease).

At least I have a closing this week. It will be my 3rd closing (one is a referral) in the last 3 weeks. So I am hopeful that the market is changing. It's for a home in Moss Creek Village. I hit another RE/MAX award so I am confident that I will be able to pay all my bills through the rest of the year. How are you other agents doing out there??? I know the showings have been slow.

What's up for the Next three weeks: 2 closings and accepting a lease check. I am hoping that these closings go smoothly as I am sure they will, since I almost never have any problems after contract. One is for commercial building in Mount Mourne Springs and the others are for homes in Cherry Grove and Twin Creek Estates in Troutman. 

I see a lot of bank sales and foreclosures out there, but have you noticed that many are priced at market value?  I think some buyers might get the idea that they are going to find a gem in the rough, but the market is still pretty good here so it might take the banks some time to have these listings on their books before they start dumping the properties at super low prices.

By the Way, I noticed that The POINT has 90 listings and a 1 year supply of inventory. Who would have guessed??? I also called the membership office and they actually have a waiting list for people to get out of the cheapest $9,000 swim/tennis equity membership. (Last year you couldn't trade your eldest child for one). The membership is going to $12,000 as of November 1st. This graph below is a little rough looking but it shows you the general idea of listings and prices for areas 12 and 13 (statesville and lake norman) for the month of September 2007.

AreaNewAvg ListPriceUnder ContractAvg LPSoldAvg SalePrice%SP/LPAvg DaysOnMarket
 total avg  539    $433,524               239$352,855217  $320,87896.82%                     97
Information is Believed To Be Accurate But Not GuaranteedCarolina Multiple Listing Service, Inc.


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Sandy McAlpine

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