Lake Norman waterfront home prices

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Here are some interesting numbers taken from the MLS:

In the summer of 2011 from June 1st to August 1st 2012, 64 homes have sold. The minimum sale price was $147,500 and the maximum $2.55 million. The average cost for a home for sale was $769,831, which was approximately $198 per square foot. The percentage of sold price to list price came in at 93%.

For the same period in the summer of 2012, 72 homes sold at an average cost of $716k. That may seem like a savings of around $50,000, but the average price per square footage was actually a little higher at $201 per square foot. The ratio of sold price and list price stayed the same at 93%. The most expensive home sold for $2.45 million and the least expensive selling at $135,000.

Based on these numbers activity has increased, but not with the savings that many people would have expected. Are there still great deals to make on waterfront homes? Absolutely, but for how long is the BIGGER question.

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