in this region?”
“When reviewing the real estate market in 2012 for the Lake Norman region, closed sales were up 21.9 percent over 2011, and pending sales increased 33.4 percent. Last year saw a decrease in the number of homes on the market and an increase in sales prices. This kind of tightening in the market historically propels home values, and sure enough, we’re beginning to see long-awaited appreciation: The Lake Norman market showed a 6.3-percent increase in the median sales price for 2012.
What this means for the Lake Norman market is, since pending sales are generally good indicators, recent strong numbers for pending sales suggest sales should remain strong in 2013. Add to that appreciation in values, decreasing inventory, and continued low interest rates and you get a climate in which prospective sellers may be motivated to come out of hibernation, and hesitant buyers to get off the fence. 2013 just may bring with it the market conditions everyone has been waiting for.”
– Abigail Jennings, president of Lake Norman Realty
“I have been watching the market during 2012 and have seen the traffic and sales get a bit better every month, and from all indications, 2013 looks like “the beginning” of the rebound. We still have a long way to go and may never reach the 2004-07 levels, but I think the bottom has been reached and the future looks bright.
Sales activity is up, but prices have not started back yet. The recipe for getting a house sold today is the same as in the past few years: Price the house correctly, have it properly staged and market it professionally.
If those three things are accomplished, then the goal of finding a buyer is mostly done. The market is getting better and I believe it will continue to improve and give us opportunities, but we as agents must have the knowledge, spend the time necessary and give 100 percent quality service to our clients!
Do I see 2013 as a rebounding year? Definitely, the answer is ‘yes!’”
– Bob Hecht, TheHechtTeam, Hecht Development, Cornelius and Denver