How is the housing market doing in the Lake Norman Area?
The following are the sales numbers for The Peninsula, The Point, River run and Birkdale. In each community sales are down from the previous years due to ...
1. Lack of liquidity and the difficultly to get a loan. Communities such as The Peninsula and The Point are impacted more heavily because in most case it requires a jumbo loan to purchase a home. Those loans are harder to get and are more expensive,
2. Many of the people wanting to live in the Lake Norman area are from other parts of the country especially the north and south east where homes are very difficult to sell; therefore, they cannot sell their present home to purchase a home in this area.
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The Peninsula
|
|
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Total Active (9/30/08)
|
74
|
|
Total Pending (9/30/08)
|
5
|
|
Total Sold (1/1/08-9/30/08)
|
31
|
|
Expired (1/1/08-9/30/08)
|
24
|
|
Withdrawn (1/1/08-9/30/08)
|
45
|
|
Temporarily off Market (1/1/08-9/30-08)
|
2
|
|
Total Sold (1/1/07-9/30/07)
|
45
|
|
Total Sold (1/1/06-9/30/06)
|
74
|
|
Total Sold (1/1/05-9/30-05)
|
69
|
|
Total Sold (1/1/04-9/30/04)
|
87
|
12 homes sold last quarter. There is 21.7 months of inventory
|
The Point
|
|
|
Total Active (9/30/08)
|
112
|
|
Total Pending (9/30/08)
|
6
|
|
Total Sold (1/1/08-9/30/08)
|
25
|
|
Expired (1/1/08-9/30/08)
|
39
|
|
Withdrawn (1/1/08-9/30/08)
|
56
|
|
Temporarily off Market (1/1/08-9/30-08)
|
2
|
|
Total Sold (1/1/07-9/30/07)
|
65
|
|
Total Sold (1/1/06-9/30/06)
|
76
|
|
Total Sold (1/1/05-9/30-05)
|
71
|
|
Total Sold (1/1/04-9/30/04)
|
63
|
9 homes sold last quarter. There is 41.4 months of inventory.
|
River Run
|
|
|
Total Active (9/30/08)
|
42
|
|
Total Pending (9/30/08)
|
4
|
|
Total Sold (1/1/08-9/30/08)
|
50
|
|
Expired (1/1/08-9/30/08)
|
13
|
|
Withdrawn (1/1/08-9/30/08)
|
28
|
|
Temporarily off Market (1/1/08-9/30-08)
|
2
|
|
Total Sold (1/1/07-9/30/07)
|
56
|
|
Total Sold (1/1/06-9/30/06)
|
86
|
|
Total Sold (1/1/05-9/30-05)
|
74
|
|
Total Sold (1/1/04-9/30/04)
|
59
|
34 homes sold last quarter. There is 7.6 months of inventory.
|
Birkdale
|
|
|
Total Active (9/30/08)
|
66
|
|
Total Pending (9/30/08)
|
6
|
|
Total Sold (1/1/08-9/30/08)
|
61
|
|
Expired (1/1/08-9/30/08)
|
35
|
|
Withdrawn (1/1/08-9/30/08)
|
45
|
|
Temporarily off Market (1/1/08-9/30-08)
|
0
|
|
Total Sold (1/1/07-9/30/07)
|
85
|
|
Total Sold (1/1/06-9/30/06)
|
99
|
|
Total Sold (1/1/05-9/30-05)
|
108
|
|
Total Sold (1/1/04-9/30/04)
|
111
|
18 homes sold last quarter. There is 9.8 months of inventory