Lake Homes Realty tracks markets in nine of its 11 states across the Southeast and Southwest, spanning more than 300 lakes. In the firm's latest report, which covers the winter months, several new data features have been added in addition to breakouts on the largest, priciest and most affordable lake-home markets as well as listing counts.
The Lake Norman Real Estate Market is Booming
For starters, Lake Norman again comes in as Lake Homes Realty's largest market at nearly $592 million, accounting for both homes and land. It's also one of five lake areas with more than 1,000 listings — 1,044, to be exact — during a winter period when inventories are typically smaller.
Lake Norman Real Estate Prices
Another boon: the average price of a Lake Norman home, at $841,708, remains far below the most-expensive market of Lake Austin, Texas, where the average home costs $1.9 million.
Still, nearly 60% of North Carolina's 210 million-dollar homes are located in the Lake Norman area. It's also home to the state's third- and fourth-most expensive ZIP codes: 28031, where homes average $1.01 million, and 28117, with a $947,000 average.
The most-expensive home in the Lake Norman market hit the market in March, with a price tag of $5.18 million.
Of homes listed for sale in Lake Norman, 42% are priced between $350,000 and $700,000, and 24% carry a price of $1 million or higher. Another 20% are priced between $700,000 and $1 million, and 14% cost less than $350,000.
Lake Wylie Real Estate Comparison
For comparison, 40% of homes on the North Carolina side of Lake Wylie have list prices between the $350,000 and $700,000 range. Just 9% cost more than $1 million, 20% range from $700,000 to $1 million and 31% cost under $350,000.
Homes at Lake Wylie, which boasts a $222 million real estate market across the Carolinas, average in price at $628,755.Lake Wylie's 28216 ZIP code registers as No. 9 among North Carolina's priciest, with homes averaging $781,000 in price. Meanwhile, the four following Lake Wylie ZIP codes rank among South Carolina's most expensive: 29745 ($898,000) at No. 3 in the state; No. 4, 29732 ($733,000); No. 7, 29710 ($647,000); and No. 8, 29708 ($602,000).
Relocating to the Carolinas?
Lake Homes Realty's research showed that New York City residents are most apt to seek a North Carolina lake property, while Atlantans are active searchers in South Carolina.