Has a Lake Norman waterfront home been a good investment?
You bet. Here are the facts over the last 3 years.
Single-family, traditional waterfront homes prices are on the rise. Not a surprise. But by how much? Consider this: the median waterfront home sales price across the entire Carolina Multiple Listing Services, Inc. is up 22% over the last 3 years.
- Drilling down, I found the changes varied.
Mooresville: +12.9%
Cornelius: +4.5%
Davidson: +3.2%
Denver: +17.3%
Sherrills Ford: +28.1%
Huntersville: +5.9%
Terrell: -9.7% ( Note median sales price dropped)
- Let’s take a look at two of the most prestigious communities:
The Point in Mooresville: +12.8%
The Peninsula in Cornelius: -3.5%
How about waterfront condominiums? Let’s take a look at sold properties in Mooresville, Davidson and Cornelius: Single-family, traditional median sales prices are up over the last three years in a big way as well.
- Mooresville: +18.0%
- Davidson: +12.6%
- Cornelius: +16.6%
If we want to dig deeper- here are the median sales prices increases in February of 2018:
- Mooresville +3.1%
- Davidson: +6.6%
- Cornelius: +16.2%
It’s anybody’s guess where we’ll be in 3 more years, but barring a meltdown of the US economy and huge increases in mortgage rates, waterfront homes in the Lake Norman area should turn out to be a good investment for most. And they will always be a place to enjoy the water and view!
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