Lake Norman Real Estate: December 2008 Market Report
By Diane Aurit, Lake Norman Real Estate
(LKN Realty, LLC)
Wow, what a year! After a significant drop in closed sales in November, we actually had a pretty strong December when compared not only with November 2008 but with December 2007. And, we in the Lake Norman area were not alone. December seemed to be a better month for communities all over the country. Speculation is that the drop in interest rates bumped the sales up. It is hard to know how long this bump will last but it's sure nice to have some halfway good news to report! Active Listings: The good news is that our number of active listings is still dropping. However, at a 24.6 months of supply of active listings if we continued at our current sales rates, we still have a serious surplus of listings. Remember that a balanced real estate market should have between 6-10 months ...
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