Lake Norman Market Forecast

from Ivester Jackson Christie's Luxury Market Report Lake Norman

Davidson

Ultra Luxury Market Analysis

Showing Activity: Lake Norman and North Charlotte's luxury markets continue to produce solid results for sellers, with low inventory and high demand continuing to stabilize prices. The range around $1 million is seeing the average home get close to 9 showings per month, on par with last year ' s spring activity, while the upper ranges have varied In the 2-3 million dollar segment, the average house is getting 5 8 showings per month right now, down slightly from 7 1 last year during the same time, but still healthy activity Interestingly, the range above $3 million exceeded last year ' s showing activity for the early spring, as Lake Norman continues to attract a steady stream of high net worth buyers.

The area will see more balanced activity, yet price decreases should not necessarily be seen as price declines in absolute sold prices. When a home is priced at $1000.00 per square foot and decreases to over $900.00 per foot then sells at a still record price for that neighborhood, that's still a sign that prices remain healthy.

Finally, from a macro-study, a recent research study projected that some 20 million people will move to the sun belt states between 2020 and 2030 North Carolina ranked third in inbound migration last year to only Texas and Florida Given that forecast, the area continues to remain attractive from a relative pricing standpoint to its more pricey southern neighbors.