June 2019 New Home Sales

The results are in for June 2019 new home sales in the Lake Norman area. The biggest improvement in sales, not the actual number, was in Troutman- up 275% compared to last June. The vast majority of sales were in Sutter’s Mill, a community developed by True Homes. Falls Cove by Lennar and Windstone Crossing by Windstone Builders round out the other communities with sold new home properties.

The number of closed sales in Denver, Mooresville and Huntersville were down last month. The biggest drop was in Denver, with the number of new home closings off by 31%.

Median sales prices were up in Denver and Huntersville. No surprise to see the highest prices were in Huntersville at around $440,000. Interesting to note that the median sales price in Denver ($391,568) was about $93,000 higher than Mooresville ($298,000). See the graph below for comparison.

What do future sales look like? Pending new home sales in June, homes that went under contract but did not close, were up a whopping 400% in Troutman and down about 45% in Denver. Another way to look at future sales, seen below, is the number of month’s supply. Anything under 4 to 6 months is seen favoring the seller- or in this case- the builder. All locations in this study show showed shrinking inventory, except for Huntersville. Perhaps that will lead to good sales in July.

Remember, all this market data is relative to June of last year. And, Mooresville’s new home sales market is about triple its nearest competitor.

If you would like to see new homes in any community around the Lake Norman area then let me know. I’m your best source for understanding the new home buying process. My fee to you is zero. The builder wants me to bring in qualified buyers like you, and they will not charge you more for it! Give me a call at 704-582-1314 or email me at ncrealtyguy@gmail.com.