I hope no one is tiring of good real estate news, because I’ve got more coming your way! September 2012 indicators for the Lake Norman area were very positive overall. Even the number of new contracts written, which I’ve been watching very closely, surged back in the right direction – up! Here’s a quick overview of last month’s Lake Norman market stats, compared to September 2011:
Closings: 10% increase
New Contracts: 23% increase
New Listings: 13.6% decrease (great news for sellers)
Month’s Supply of Homes: 8.9 month supply (41% decrease in inventory, which again is great news for sellers)
The only dip to report was in the median sales price. We’d seen a couple of months of rising median sales prices, so September’s decrease of 7% over Sept 2011 was disappointing but understandable, as there are still many short sales and foreclosures working their way out of the market.
*all data compiled from CMLS