sales history of the lake norman area · sales history of the lake norman area february 25, 2010...
TRANSCRIPT
2010
Hilary Broadway, Broker Allen Tate Realtors 704-996-6000 www.HilaryBroadway.com
SALES HISTORY OF THE LAKE NORMAN AREA
A SNAPSHOT OF REAL ESATE MARKET ACTIVITY IN THE LAKE NORMAN AREA FROM 2005 TO PRESENT
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced up to $200,000
Number of Sales
Average Pricing
0
5
10
15
20
25
30
35
40
45
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
2005 2006 2007 2008 2009 2010
Number of Sales
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00
$160,000.00
$180,000.00
$200,000.00
2005 2006 2007 2008 2009 2010
Average List Price
Average Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced from $200,001 - $350,000
Number of Sales
Average Pricing
0
20
40
60
80
100
120
140
$200,001 -$350000
$200,001 -$350000
$200,001 -$350000
$200,001 -$350000
$200,001 -$350000
$200,001 -$350000
2005 2006 2007 2008 2009 2010
Series1
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00
$160,000.00
$180,000.00
$200,000.00
2005 2006 2007 2008 2009 2010
Average List Price
Average Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced from $350,001 - $500,000
Number of Sales
Average Pricing
0
10
20
30
40
50
60
70
80
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
2005 2006 2007 2008 2009 2010
Series1
$380,000.00
$390,000.00
$400,000.00
$410,000.00
$420,000.00
$430,000.00
$440,000.00
$450,000.00
$460,000.00
2005 2006 20070 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced from $500,001 - $800,000
Number of Sales
Average Pricing
0
10
20
30
40
50
60
70
80
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
2005 2006 2007 2008 2009 2010
Series1
$560,000.00
$580,000.00
$600,000.00
$620,000.00
$640,000.00
$660,000.00
$680,000.00
$700,000.00
$720,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced from $800,001 - $1,500,000
Number of Sales
Average Pricing
0
10
20
30
40
50
60
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
2005 2006 2007 2008 2009 2010
Series1
$-
$200,000.00
$400,000.00
$600,000.00
$800,000.00
$1,000,000.00
$1,200,000.00
$1,400,000.00
$1,600,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Mecklenburg County categorized as lake communities:
Homes Priced from $1,500,001 +
Number of Sales
Average Pricing
0
5
10
15
20
25
$1,500,000 + $1,500,000 + $1,500,000 + $1,500,000 + $1,500,000 + $1,500,000 +
2005 2006 2007 2008 2009 2010
Series1
$-
$500,000.00
$1,000,000.00
$1,500,000.00
$2,000,000.00
$2,500,000.00
$3,000,000.00
$3,500,000.00
$4,000,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, West of I-77 - not lake communities:
Homes Priced to $200,000
Number of Sales
Average Pricing
0
50
100
150
200
250
300
350
400
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$130,000.00
$135,000.00
$140,000.00
$145,000.00
$150,000.00
$155,000.00
$160,000.00
$165,000.00
$170,000.00
$175,000.00
$180,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, West of I-77 - not lake communities:
Homes Priced $200,001 - $350,000
Number of Sales
Average Pricing
050
100150200250300350400
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$240,000.00
$250,000.00
$260,000.00
$270,000.00
$280,000.00
$290,000.00
$300,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, West of I-77- not lake communities:
Homes Priced $350,001 - $500,000
Number of Sales
Average Pricing
0
20
40
60
80
100
120
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$370,000.00
$380,000.00
$390,000.00
$400,000.00
$410,000.00
$420,000.00
$430,000.00
$440,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, West of I-77 - not lake communities:
Homes Priced $500,001 - $800,000
Number of Sales
Average Pricing
0
2
4
6
8
10
12
14
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$-
$100,000.00
$200,000.00
$300,000.00
$400,000.00
$500,000.00
$600,000.00
$700,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, West of I-77 - not lake communities:
Homes Priced $800,001 - $1,500,000
Number of Sales
Average Pricing
0
0.2
0.4
0.6
0.8
1
1.2
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$880,000.00
$900,000.00
$920,000.00
$940,000.00
$960,000.00
$980,000.00
$1,000,000.00
$1,020,000.00
2005 2006 2007 2008
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Priced up to $200,000
Number of Sales
Average Pricing
050
100150200250300350400450500
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
up to $200,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$145,000.00
$150,000.00
$155,000.00
$160,000.00
$165,000.00
$170,000.00
$175,000.00
$180,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Price $200,001 - $350,000
Number of Sales
Average Pricing
0
50
100
150
200
250
300
350
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
$200,000 -$350000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$250,000.00
$255,000.00
$260,000.00
$265,000.00
$270,000.00
$275,000.00
$280,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Price $350,001 - $500,000
Number of Sales
Average Pricing
0
20
40
60
80
100
120
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
$350,001 -$500,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$380,000.00
$390,000.00
$400,000.00
$410,000.00
$420,000.00
$430,000.00
$440,000.00
$450,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Price $500,001 - $800,000
Number of Sales
Average Pricing
0
10
20
30
40
50
60
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
$500,001 -$800,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$-
$100,000.00
$200,000.00
$300,000.00
$400,000.00
$500,000.00
$600,000.00
$700,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Price $800,001 - $1,500,000
Number of Sales
Average Pricing
0
0.5
1
1.5
2
2.5
3
3.5
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
$800,001 -$1,500,000
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$-
$200,000.00
$400,000.00
$600,000.00
$800,000.00
$1,000,000.00
$1,200,000.00
$1,400,000.00
2005 2006 2007 2008 2009 2010
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Sales History for homes in Huntersville and Cornelius, East of I-77 - not lake communities:
Homes Priced $1,500,000 +
Number of Sales
Average Pricing
0
0.2
0.4
0.6
0.8
1
1.2
$1,500,000 +$1,500,000 +$1,500,000 +$1,500,000 +$1,500,000 +$1,500,000 +
2005 2006 2007 2008 2009 2010
Number of Sales
Number of Sales
$-
$500,000.00
$1,000,000.00
$1,500,000.00
$2,000,000.00
$2,500,000.00
$3,000,000.00
$3,500,000.00
2005 2006 2007 2008 2009
List Price
Sales Price
SALES HISTORY OF THE LAKE NORMAN AREA February 25, 2010
Prepared by Hilary Broadway, Allen Tate Realtors 704-996-6000 / www.HilaryBroadway.com Committed to Clients and Community
Remember while looking at these charts, the sharp decline you see in 2010 is due to slightly less than
two months reporting. Use the trend you see there, and you can project what 2010 will bring.
There is clearly a consistent pattern of fewer sales and lower prices. Still, there are some interesting
trends here. Sales prices have remained remarkably close to asking prices, close to 97% on average. In
the lower price points in the Lake Norman communities, prices have remained fairly consistent. Prices
in the $200,001 to $350,000 price point have increased in the early part of 2010 showing a promising
trend. The same is true of the $350,000 to $500,000 price points in off water communities in the
Huntersville and Cornelius areas. Use that information cautiously however, as the number of sales have
shown a marked decrease. The $800,000 to $1,000,000 price range shows increase in average sales
price, but the wide range and few sales make an average sales price a difficult barometer of market
trends.
The trend seems to be sales are fewer and prices are lower. Yet, homes are selling. The tight list to
sales price ratio tells us that the best of the best, and the best priced properties are recognized by
buyers and are rewarded with sales contracts.
This exercise should be used not only to evaluate one’s own home, but also to study an area to which
one may wish to move. If moving up in price point, this is an ideal time to “buy low” and realize the
appreciation on a higher end home. Coupled with low interest rates, the supply of inventory and
reduced pricing make for an ideal home buying scenario. Any loss of a lower priced home will be more
than covered in the gains on a higher priced home.
These numbers are averages and cannot be used to evaluate the market position of any individual
home. It would be my pleasure to help you examine your personal home. Feel free to call me at 704-
996-6000 or e-mail me at [email protected]. You can also visit my website to read
testimonials, link to my blog and my LinkedIn profile, or create your own personalized home search.