If you didn’t know this already, Lake Norman continues to maintain a foothold as the largest lake-home market in North Carolina. But to take it one step further, Lake Norman is actually the second largest lake-home market in the country. Lake Michigan is the only other real estate market to best Lake Norman. Lake Norman’s home market was valued at $874.9 million, trailing Lake Michigan’s $1.2 billion.
According to Charlotte Business Journal, Lake Norman’s total lake market, which includes both home and land listings, is pegged at $1 billion. This is also only second-best to Lake Michigan’s $1.5 billion market.
Most Million-Dollar Listings in NC
Even though Lake Norman is among the largest lake-home markets, the price tag doesn’t hurt too badly. The average list price of just over $632,000 doesn’t come close to the most expensive market. That badge of honor goes to Lake Austin in Texas with an average list price of $2.8 million.
However, Lake Norman does contain 47% of the state’s total number of homes listed above $1 million.
Throughout North Carolina, Lake Norman ranks No. 10 among the most expensive home markets. Falls Lake in the Triangle is the priciest, as the average list price there tops $1.2 million. Alternatively, Lake Lookout — about 50 miles northwest of Charlotte — offers the most affordability with an average list price of $240,700.
So what does all this mean? To put it simply, if you’re in Charlotte and are in the market for a lakefront home, you’ll find the best in the state around Lake Norman. We specialize in luxury lakefront properties and would love to help you find your dream home! Contact us now while the gettin’ is good.