Lake Norman Real Estate Market Update: June 2020

As the year continues on with everything going on the market is still hanging on and going strong. This past month sales have bounced back significantly compared to the last couple of months. Continue on reading below to see how the Lake Norman Real Estate Market is doing!

The Lake Norman area consists of Cornelius, Davidson, Denver,
Huntersville, Mooresville, Sherrills Ford, Terrell, and Troutman.

Buyer confidence seems to be hitting a high right now in the Lake Norman area. Even with a global pandemic right now pending sales through June are 5.6% higher over last year. Combine that with a 13.5%  increase in average sales prices it appears we’re almost out of the slump we were in back in March and April! 
When it comes to the Lake Norman waterfront the number of closed sales for the month of June is just shy of tying the highest amount sold in a month from last year. Though average sals price was down for the month of June it is up year to date by 4.1% at $886,931 compared to last year’s time frame.  Typically the waterfront market is it’s own unique market because it varies so much from the standard non water related homes. 
The great thing about Lake Norman waterview homes is that they’re selling quick! With an average of 3 weeks until going under contract for the month of June. It appears that the pandemic hasn’t affected much in the month of June with everything bouncing back when it comes to new listings, pending sales, and closed sales. Overall, through the year so far waterview homes are down across the board but appear to be bouncing back and we’ll see what July has in stored.

If you have any real estate questions regarding where you live or want a more detailed analysis of your home I’d be more than happy to help! Feel free to reach out to me at any time.

Kristopher Sowa
N.C. Real Estate Broker | RealtorⓇ
Lake Realty
Cornelius, NC