According to Charlotte’s Business Journal, The Charlotte's Lake Norman community claims a $840 million real estate market.
Lake Norman is registered as having the largest home market, at $687 million. And its $154 million land market is also the fifth-biggest, according to Charlotte’s Business Journal.
Lake Norman is more affordable than several other lakefront markets, however, that's not to say, that Lake Norman isn't full of luxury homes, as a large chunk of the Charlotte area's high-end market is based here.
The Charlotte Regional Realtor Association's website shows that the priciest Lake Norman home listed, iso a four-bedroom, nine-bathroom property located in Mooresville's The Point neighborhood. That 11,500-square-foot property has a price tag of $7.45 million. For a look at the five most-expensive Lake Norman houses on the market, which range in cost from $3.75 million to $7.45 million.
Where Lake Norman differs from Charlotte's other luxury neighborhoods, like Myers Park, Eastover and SouthPark, is that it attracts a bulk of out-of-state and international buyers looking for a vacation home. As a result, the home-selling season in Lake Norman is more year-round and less seasonal
A further breakdown of Lake Homes Realty's statistics shows that 42% of North Carolina's lakefront real estate is found at Lake Norman. Metro Charlotte's other lake, Lake Wylie, totals $110 million and comprises about 8.2% of lakefront property in South Carolina and 6.7% in North Carolina.
Here is a side-by-side comparison of those two lakefront real estate markets:
Overall market: Lake Norman, $840 million; Lake Wylie, $245 million (across the Carolinas)
Home market: Lake Norman, $687 million; Lake Wylie, $194 million
Land market: Lake Norman, $153 million; Lake Wylie, $50 million
Home price (average listing): Lake Norman, $860,890; Lake Wylie, $601,065
Land cost (average): Lake Norman, $297,947; Lake Wylie, $215,687
Listings: Lake Norman, 1,313; Lake Wylie, 561
Homes available: Lake Norman, 798; Lake Wylie, 323
Land available: Lake Norman, 515; Lake Wylie, 238
Martin, Jenna. Bizjournals.com, www.bizjournals.com. https://www.bizjournals.com/charlotte/news/2016/10/06/report-lake-norman-is-largest-lakefront-home.html