Market Conditions in 28115>Question Details

Nc Bound, Home Buyer in Cornelius, NC

any idea why the prices in the mooresville area seem to be so much higher relatively speaking than prices?

Asked by Nc Bound, Cornelius, NC Sat Feb 14, 2009

around Waxhaw/Weddington? it seems the prices in Waxhaw/Weddington have recently decreased substantially but those around Mooresville have yet to do so - although in Mooresville there are very few homes selling...

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If your comparing average price in a particular city or zip code to another one, it's likely the averages in Mooresville are higher because of the large number of high end and water front homes currently on the market. I know Weddinton has a lot of high end homes as well, but the amount of homes currently listed is much lower. In any case, it's still a matter of supply and demand. Demand is low so to get a home sold, the price must meet the market conditions. You really never know what a seller is willing to take, so if you see something you like, make a reasonable offer. The worst that can happen is they say no. Good Luck to you.
0 votes Thank Flag Link Thu Oct 15, 2009
Mooresville homes typically have more land. We also have the Point Lake and Golf Club where homes range from the 500s to over 4 million that tend to push the average home prices up. Also, we have a lot of water front Lake Homes here as well. In my opinion, Builders in this area in the last few years have built homes at a higher standard than other areas, due to Crescent Resources policies, and also having to be an unlimited licensed builder to sell homes in their communities.
0 votes Thank Flag Link Tue Aug 11, 2009
Hi Again NC Bound...

All are valid reasons and yes, prices in Mooresville are typically higher then other parts of Lake Norman. Again I live and work in Mooresville, NC.

Here's my opinions why they are higher:

1) It is close to the lake, and you will see 281187 (the lake area) are higher then 28115 (in town)
2) The booming access to shopping, restaurants, etc.
3) NASCAR central
4) Lowe's headquarters
5) Lower taxes. Iredell County has low taxes, as compared to Mecklenburg County which is almost double that of Iredell.
6) Continued projected development - new up and coming projects
0 votes Thank Flag Link Mon May 4, 2009
Another reason for the higher prices is the proximity to Lake Norman. The entire area has experienced explosive growth in the past 10 years and there are numerous large subdivisions and projects scheduled for the next several years For example: Langtree). Even though homes in this area are taking a little longer to sell, most sellers are willing to hold on knowing the values in the area will remain high due to the lake. Mooresville has been and will remain a very popular area for those relocating to NC, moving north out of Charlotte, for NASCAR and LOWES employees and for those that enjoy boating. This area has many things that draw people here and I believe prices will stay steady. Hope that helps some. Let me know if I can get you additional information about the area.
0 votes Thank Flag Link Mon Feb 16, 2009
In my opinion Mooresville is a very popular area. Price is influenced many times by location. Lowes Corporation is building their headquarters there and has some affect on what is going on in the housing markets. You will see that the homes with the larger price points have been decreasing at a higher percentage where by the smaller price points seem to be moving.. Supply and demand. The large homes with the larger price point are harder for the buyers to buy with the current credit market and lending requirements. I would love to assist you further .. review our website and give us a call..
0 votes Thank Flag Link Sat Feb 14, 2009
In my opinion Mooresville is a very popular area. Price is influenced many times by location. Lowes Corporation is building their headquarters there and has some affect on what is going on in the housing markets. You will see that the homes with the larger price points have been decreasing at a higher percentage where by the smaller price points seem to be moving.. Supply and demand. The large homes with the larger price point are harder for the buyers to buy with the current credit market and lending requirements. I would love to assist you further .. review our website and give us a call..
0 votes Thank Flag Link Sat Feb 14, 2009
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