Lake Gaston Real Estate Market Trends – North Carolina

News for Lake Gaston, NC - September 16th, 2011 8:50am
The Lake Gaston real estate market continues to show signs of improving. The spring and summer of 2011 have been very active with lookers and buyers. Waterfront homes sales have taken increased but off-shore property as well as waterfront lots have lagged behind.

In the first eight months of 2011 we have seen 84 waterfront homes and 33 off-shore homes sold for a total of just under forty-five million dollars. Waterfront homes sales are up 35.5% in units and 44.0% in dollar volume over the same time period in 2010. Off-Shore homes are lagging behind the same period of 2010, down 29.8% in units and down 48.0% in dollars. Our total real estate market, homes and land is down 4.4% in units and up 24.0% in dollars over 2010. We currently have 23 homes in our MLS as under contract which total slightly over five million dollars.

With the economy improving as well as the boost in consumer confidence we are anticipating a good year in 2011 at Lake Gaston.

Lake Gaston, NC & VA Market Update - February 28th, 2011 12:04pm
As we know real estate is like the weather, real estate is also local. The national weather forecast for today in California is different from ours. The same holds true for the real estate market. We continue to hear of more foreclosures, increasing shadow inventories, housing prices declining and more on the news. We have fared well here at Lake Gaston.
Our total real estate market increased 7.8% in units and 19.8% of dollar sales in 2010 over 2009. Waterfront homes were up 21.3% in units and 26.3% in dollars sales. Offshore homes were down 8.5% in units and 13.0% in dollars sales. Waterfront lots were up 22.7% in units and 28.6% in dollars sales. Offshore lots were up 2.8% in units and 21.6% in dollar sales. The average waterfront home closed for $462,512 in 2010 compared to $444,379 in 2009. The average waterfront lot closed for $180,685 in 2010 and $172,400 in 2009.