Lake Norman Luxury Market Continues Solid Activity Levels

The Lake Norman luxury market continued to buck national trends moving into the spring While national media outlets continue to report lower prices and a slowing of the luxury market in large markets nationally, North Carolina has mostly shown minor declines from the past two years frothiness, with some areas and segments continuing to show actual upward pricing pressure.

In the Lake Norman area, while the mid-market range has shown declines in sell-through, the continued low inventory levels have limited pricing declines. The million range has shown high demand, with Davidson, Mooresville, Denver, and Cornelius all showing increased sell-through compared to last year ' s first quarter. While the ultra-luxury range above $2 million has seen some increase in inventory, particularly with older homes, prices are still well above pre-covid levels.

Showing activity remains well above pre-covid levels, albeit slightly off from peak levels last year.