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Cornelius Real Estate Market Update May 2013

May 14th, 2013 Listed Under: Cornelius

Cornelius, NC

Market is up, even as waterfront lags behind.

Home prices edged up year over year 2%*, and the number of home sales was WAY WAY UP at  70%!

As we dig into the numbers, I found Cornelius at Lake Norman is like most lake communities- there are really two markets, the waterfront market , and all the rest.

Waterfront Homes at 2005 Prices

After rising in 2012 to sold prices of 255/sf, they have fallen in sales since 2013 to 233/sf
representing an 8.6% drop in price per square foot.  A buyer would have to go way back to 2005 to find waterfront homes at Lake Norman for so little!

What it explains it? Supply and demand, the demand for Lake Norman Waterfront is still below peak levels in the 2000’s. The top quartile ranged from $266/sf to $366/sf… three homes sold over $300/sf

The least expensive waterfront? The bottom quarter ranged from$145 to $203/sf

Non- waterfront homes, everything else, were  up over 2% year over year (2/1/13 to 5/11/13)

 

*Home price data is derived from the Carolina MLS for the period 2/1/13 through 5/11/2013

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Terry McDonald
I'm the owner/team leader of The McDonald Group at Wilkinson and Associates ERA Powered real estate brokers here in Charlotte NC. A transplanted Washinghtonian, my family and I came from the NYC area in 1993.
Terry McDonald
Terry McDonald

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The McDonald Group
Wilkinson and Associates ERA Powered
8604 Cliff Cameron Dr ST 110
Charlotte NC 28269
704-390-6221 Cell
704-393-0048 Office
Licensed in NC & SC
USAA Certified
ERA Luxury Home Certified

Charlotte Communities Online

Terry McDonald [email protected]   704-351-1519

Bobby McDonald [email protected] 704-351-1519