Wednesday, August 29, 2012

North Iredell

North Iredell Sees First Deals Above 1Million, Range Below Off Slightly

The North Iredell area saw its first two deals in the million dollar plus category this summer, including a near 2 million dollar transaction in Bay Crossing, One of the higher priced home deals on Lake Norman the first half of the year. Sold results in the sub-one million dollar range lagged other areas of the lake as well as last year's sold totals during the summer in this area, as lowered availability of distressed property resulted in less activity. Last summer, this area was coming off an active period in which several of the remaining builder distressed homes from the recession were being sold off.

Inventory in this area nudged upward to 43 listed homes from 37 in the spring, a result of less contractual activity. Showings have also been a bit less active than last summer, with the average home being shown just over twice a month.       

Price       Actives    Pending      Shows/House    Sold Summer 2012     Sold '11   
500k-999k    37         3                   2.5/month             6    ;                   10
1m+             6          0                      1/month0     & nbsp;      2                      

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