The Point homes sales in October 2018

Home sales in Mooresville’s premiere community, The Point, were down in October 2018 compared to October of 2017.  However, homes sold more quickly.   Let’s break it down:

Compared to October of 2017 in The Point

• Number of new listings:  no change
• Number of homes for sale:  down 13.7%
• Number of pending sales:  down 11.1%
• Closed sales:  down 37.5%
• Median days on market:  down 80.6%
• Months supply:  down 14% (9.8 months)
• Median sales price:  down 70.4%
• Median sales to list price ratio:  up 3.8%

What jumps out at you?  I bet it’s the median sales price drop of 70%!  Why? Only 1 waterfront sale compared to 5 last October.  Waterfront homes have the highest price tag.  I’m not implying prices are down in The Point.  They are not.  Median sales price is up about 9% over the last 12 months.

While inventory was down, there are enough homes for sale to call it a buyer’s market (over 6 months of inventory).  See bar graphs below for illustrations.

The Lake Norman region saw flat sales compared to last October.  Widening out further to the entire Charlotte MLS (multiple listing service), the number of closed sales were down 9.6%.

Data used for my study were complied by the Charlotte Regional Realtor Association.

If you have any questions, or if you would like to buy or sell in The Point then let me know by contacting me.

To learn about Trump National Golf Club at The Point, click here.

To learn more about Lake Norman, click here.