Sandy McAlpine - Lake Norman Blog

Sandy Aichner, GRI, ABR, Broker, REALTOR ~ RE/MAX Executive Realty (704) 746-7513

Lake Norman Real Estate Copyright 2008-2009 by the Author - Sandy Aichner. Call me at: 704.746.7513 for information on purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina or surrounding towns . As a Relocation Broker, I can also Refer you a RE/MAX agent anywhere in the World! Feel free to visit one of my websites: MooresvilleHomeSearch.com, SandyIsYourAgent.com . Or stop by my blogs at: Active Rain; or Twitter.

Lake Norman Real Estate Analysis - Activity Report 3 Years Back

I compiled data from home and home sales activity from the Carolina Multiple Listing Service for the Month of October 2008, and singled-out area 13 (Lake Norman). Then I organized the data into a crisp graph.

 October 2008
 
Total Listings                                                          1516
New Listings                                                            250
Back on Market                                                      109
Price Changes                                                          444
Contingent/Conditional                                             23
Under Contract                                                          59
Sold                                                                             71
Percentage of Sold Homes vs. Newly Listed           28%
Months supply                                                           21

From the data through October 31, we can interpret that There are a total of 1,516 homes on the market. As of December 1, 2008, the total number of homes had increased to 1,676 homes. 444 PRICE CHANGES! It appears that sellers are trying to stay competitively priced since the inventory is so high. Since only 28% of the newly listed homes are selling, then the other 72% of the homes listed each month are staying in inventory. This high inventory gives us a 21 month supply of homes on the market.The trend is inventory is increasing, demand is decreasing, average home prices are going down.

It's really eye-opening to see that only 71 homes sold in the Month of October as compared to years past. The next graph shows the activity for each year and the market is down at least 41% in home sales since 2005.

Sandy Aichner, GRI, ABR, Broker, REALTOR ~ RE/MAX Executive Realty (704) 746-7513


Search Foreclosures in Lake Norman
Lake Norman Featured Listings

Lake Norman Real Estate Call me at: 704.746.7513 for information on purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, or Statesville, North Carolina or surrounding towns. OR email me: sandy@sandyisyouragent.com. Feel free to visit one of my websites: MooresvilleHomeSearch.com, SandyIsYourAgent.com . Or stop by my blogs at: Active Rain; or Twitter.

Here is your lake norman real estate market report snapshot! --by Sandy Aichner

By analyzing the data in area 13, In the past 4 months, We are seeing a high ratio of the number of new listings to only an average of 82 listings selling each a month.

However, We are seeing a trend of new listings going down. This is good! It's happening partially because we are entering the winter time and school is in season. But, If we can get the number of new listings down dramatically, then the really "motivated" sellers will be able to stay on the market and sell their homes.

It appears that less than half the homes are selling each month than the number being listed, so each month we are increasing in inventory of homes on market.

So, folks, we are going into the winter, and for the last 4 months (the best part of the real estate sales for our area) we have only had 82 (average) buyers per month. And to add to it, We have seen a 43% percent decline in pending sales in the last 4 months. And there is a 37% drop in solds.

The good thing is that the amount of price changes (i am assuming "reductions") is really high and consistent! This number is higher than recent months with only 250-300 price changes. That means you are not alone in having to reduce your home listing price! 400+ other sellers are doing the same thing each month in order to keep up with the increasing supply of inventory. SUPPLY GOES UP, PRICE GOES DOWN. basic economics.

I am hopeful that the election with spur buying and buyers back to our market. You can obviously see that there is a drop in the amount of buyers. It is also obvious with the decreased amount of showings we are seeing as well.

For a listing of all Active Homes in area 13, please go to http://www.mooresvillehomesearch.com/Mooresville_and_Lake_Norman_NC_Real_Estate_homes_for_sale.shtml

Want to know what your home is worth? Get instant Values at: http://www.mooresvillehomesearch.com/Mooresville_and_Lake_Norman_NC_Real_Estate_home_sales.shtml

Check out the numbers below:

Sandy Aichner, GRI, ABR, Broker, REALTOR ~ RE/MAX Executive Realty (704) 746-7513

Lake Norman Real Estate Call me at: 704.746.7513 for information on purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina or surrounding towns . Feel free to visit one of my websites: MooresvilleHomeSearch.com, SandyIsYourAgent.com . Or stop by my blogs at: Active Rain; or Twitter.