Decreased Inventory Translates to Good News

Posted by Abigail Jennings — June 11, 2012

1339438179April proved to be an encouraging month for Lake Norman's housing market. According to the CMLS, the Lake Norman area saw an increase of 21.7% in pending sales units vs April 2011 for Lake Norman homes. All other communities surrounding the lake experienced similar good news. Equally encouraging is that the inventory continues to shrink.

Currently, there is a 13 month supply of homes on the market vs.during the peak of the slump in 2009, when we had an almost 30 month supply of homes. A "normal" supply is when it is neither a buyers' market or a sellers' market, which many believe is around six to seven months of supply. Less supply benefits sellers, higher supply benefits buyers. So, clearly we're still very much in a buyer's market, but the gap is shrinking and it is an interesting market trend to watch.

1339438212

Share this post

Search Press Releases

Recent Blog Posts

The Ultimate Luxury Living at the Continuum South #510

Jeff Miller, Jeff Miller of Brown Harris Stevens | Miami — May 21

Notable New Ansley Atlanta Listing Offers Contemporary European-Style Luxury

Ansley Atlanta Real Estate, Ansley Atlanta Real Estate — May 21

OPEN HOUSE THIS SATURDAY at 470 Agua Vista Drive

Centre City Properties, Centre City Properties — May 18

Berkshire Hathaway HomeServices Georgia Properties Luxury Collection Open House

Berkshire Hathaway HomeServices Georgia Properties, Berkshire Hathaway HomeServices Georgia Properties — May 18

2 Luxury Open Houses- Saturday, May 19, 2018

Linda Secrist, Linda Secrist of BHHS Utah Properties — May 17

Twitter