Abigail Jennings, Lake Norman Realty, Inc. President, publishes a fantastic newsletter monthly. I had to steal this little nugget about the Lake Norman Real Estate market. Good Information!
The trend towards a more robust Lake Norman real estate market didn’t skip a beat during the first month of the new year. Inventory continued to shrink, creating a more active and dynamic market. When we compare January 2013 with January 2012 for the Lake Norman area, the picture is quite clear: more homes are selling, fewer homes are coming on the market, and sales prices are rising. Check out these figures:
|Jan 2012||Jan 2013||% Change|
|Homes going under contract||71||118||66.2%|
|Median sales price||$280,500.00||$299,000.00||6.6%|
|Months supply of inventory||12.1||7||-42.1%|
*all data compiled from CMLS