Trends in Lake Norman
Spring has arrived! Is the real estate market heating up as well? How are the Lake Norman communities faring as we look closely at February statistics? Looking at the Huntersville, Cornelius, and Davidson real estate market trends reports we can see that the number of days on market are still decreasing, new listings are not quite keeping up and as a result the months supply of homes available for sale is decreasing. We are now down to around a 3 months supply of housing inventory for both Huntersville and Cornelius. As we close out March next week it will be interesting to see if we have been able to add new inventory or if we are still lagging behind. Having less inventory means buyers are going to have to work quickly to put in offers on properties and may very well run into multiple offer situations. Unfortunately, appraisals are slow to catch up to the changing market and selling over list price means there is the chance the home will not appraise. Check back once we are into April and we’ll be posting the March statistics!
Diane and William Kradel