Lake Norman is a 33-mile long lake about 30 minutes drive north of Charlotte, North Carolina. According to Realtors, there are 528 miles of shoreline crossing four counties. Lovely waterviews as well as new job opportunities in the area, are creating nice possibilities for homebuyers.

"The location and easy access between to both I-77 & I-40 allows travel north, south, east, and west," says Realtor Suzie McCann. "Lake Norman area is in high growth mode. Due to so many changes, currently there is an overabundance of homes in certain price ranges. Lake-related properties have not felt the slow down. Property with acreage has also not felt a slow down. However, non-lake-related properties have slowed down in selling time. This makes the market appear sluggish with 30 percent more listings than a year ago."

Yet, says McCann, the consistent area growth is healthy. "The new Lowes world headquarters is being built here at exit 33 I-77," she says. "Lowes is bringing 8000 employees. The auxiliary companies that support Lowes are also relocating here. There is great growth in commercial properties. With appreciation of lake-related properties, acreage, and commercial growth, we expect continued strong sales and appreciation stabilizing in non-lake properties."

Explains Realtor Nancy Baity, "Cornelius, Davidson, Denver, Huntersville, Mooresville, and Sherrills Ford are small towns located on Lake Norman. Lake Norman's 500 plus miles of shoreline encompasses seven unique towns and parts of four counties. The area is known for its communities with multi-million dollar homes, but it also has reasonably priced neighborhoods. There is something for everyone to enjoy.

"Even though it is a buyer's market in the Lake Norman area, homes are selling at 95-97 percent of the asking price," advises Baity. "The average closing price rose 8 percent above the average price last year. With the low interest rates available, now is the time to select a dependable agent. With the availability of new homes, builders are offering very attractive incentives."

Advises Realtor Bill Merryman, "With the holidays upon us, there's lots of buyer opportunity on and around the lake area. With oversupply of housing, and interest rates low, there's plenty of nice homes, and some good deals if you look hard enough. The sales of upper price range, lakefront homes has definitely slowed, but the pace will pick up with the increase of consumer confidence and stability in the economy.Now is one of the best times to buy."

Click here to view current Market Conditions in your location.

Published: January 3, 2003

Use of this article without permission is a violation of federal copyright laws.