Monday, November 26, 2012

Million Dollar Range Swings Back Up at The Point

Million Dollar Range Swings Back Up at The Point
While sold results at The Point appear to be headed towards a positive increase relative to 2011, the pace has been a bit more sporadic than elsewhere, particularly in some ranges.  

The community was trending ahead of 2011 results in strong fashion through June, and activity in the million dollar to 2 million dollar range has remained active and ahead of last year (including the home to the left sold by
IJ's Annie Livingston).

Activity in the under 1 million, and upper range above 2 million, has been more unpredictable, with the community recording its first 2 million dollar plus deal of the year last month, while sold results in the 500k to 999k range sputtered a bit the last 60 days. There has been a recent uptick, with 5 pendings in that range, as well as the continued strong showing in the million dollar mid-ranges, where 5 more homes are pending. A second 2 million dollar plus home is also pending.

Given the Trump ownership change occurred in May, and several of the improvements are unfinished, its a little too early to observe any trend or impact upon the residential market at The Point, of the golf course changing hands. It remains a flagship community at Lake Norman that will be interesting to watch as the dynamic of new ownership plays out.

Inventory remains very healthy and in fact declined a bit, from 47 units listed over 500k, to 43, with the upper ranges declining, while the lower range increased.

  
Price Range     Actives     Pendings    Shows/house  Sold Last 60 Days   Sold 60 Days''11

500k-999k         24           5                 3/month              2                   6
1m-2m             13           5                  2/month              2                   2
2m plus            6             1                  1/month             1                   0

See these Point area homes and others at www.IvesterJackson.com.                                        

                                                                                                            
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