Here's what you can get for $1 million around Lake Norman, North Carolina

Coronavirus impacting home purchasing, refinancing: Valley National Bank CEO

Valley National Bank CEO Ira Robbins outlines what it’s been like managing the financing behind commercial and personal real estate in states amid coronavirus.

Lake Norman is a popular destination north of Charlotte, North Carolina, with luxurious homes dotting its shores.

Continue Reading Below

The lake was built by Duke Energy in the 1950s and 1960s as part of its Catawba-Watertree Hydro Project. The waterway includes 11 lakes and more than 225 miles of river in 14 total counties in the Carolinas, which holds 252 billion gallons of water, according to the utility company.

More than 25,000 people live beside the lakes and 16 million visitors use the waterway for recreation each year, according to Duke.

Lake Norman, the largest in the system, is known for its real estate and the private communities surrounding it that are populated by many NASCAR drivers and other athletes and celebrities.

CHECK OUT THESE NASCAR DRIVERS’ LAVISH HOMES

Like most of the country, the local real estate market slowed as the coronavirus pandemic kept would-be homebuyers shut in and left sellers wary of inviting house hunters into their homes. However, an increase in pending contracts indicates “that buyers are back in the market and ready to buy,” according to the Catawba Valley Association of Realtors.

In Catawba County, which is on the lake’s western banks, the number of pending sales was up 20.7 percent year-over-year in May, from 184 to 222, according to the Realtors group. The average number of days homes sat on the market was down 19.6 percent from 46 to 37.

While the average sale price was down slightly in May, the year-to-date sale price was up 6 percent compared to the same period in 2019, according to the Realtors.

Here’s a look at what you can get around Lake Norman in North Carolina with a $1 million budget:

Sherrills Ford – $995,000

This Sherrills Ford, North Carolina home is listed for $995,000. (Maia J. Smith/SC Select Real Estate)

HERE’S WHAT YOU CAN GET FOR $800,000 IN CHARLOTTE, NORTH CAROLINA

This new construction waterfront property includes a new boat slip off a quiet piece on the west bank of Lake Norman.

The 4,516-square-foot home includes three bedrooms, three bathrooms and two half-baths, according to the listing with Maia J. Smith of CK Select Real Estate.

This Sherrills Ford, North Carolina home is listed for $995,000. (Maia J. Smith/SC Select Real Estate)

Inside, the home features an open floor plan with vaulted ceilings, according to the listing. The kitchen includes an island, wet bar, wine cooler and a hidden walk-in pantry.

This Sherrills Ford, North Carolina home is listed for $995,000. (Maia J. Smith/SC Select Real Estate)

Each bedroom includes an ensuite bath. The master suite features a bathroom with a rainfall shower, standalone tub and large walk-in closet.

This Sherrills Ford, North Carolina home is listed for $995,000. (Maia J. Smith/SC Select Real Estate)

The property also includes lots of space to enjoy the outdoors. In addition to the private boat slip, there is a deck, patio and a fire pit.

This Sherrills Ford, North Carolina home is listed for $995,000. (Maia J. Smith/SC Select Real Estate)

HERE’S WHAT YOU CAN GET FOR $900,000 IN THE VILLAGES, FLORIDA

Catawba – $975,000

This Catawba, North Carolina home is on the market for $975,000. (Chris Sheridan Visuals)

HERE’S WHAT YOU CAN GET FOR $700,000 IN MILWAUKEE

This waterfront home sits along the main channel near the northern end of Lake Norman in a gated community with walking trails and a garden.

The 4,120-square-foot home includes four bedrooms, three bathrooms and one half-bath, according to the listing with Michael S. Morgan of RE/MAX Executive at the Lake.

This Catawba, North Carolina home is on the market for $975,000. (Chris Sheridan Visuals)

The traditional-style home includes fireplaces in the family room and the spacious great room, a breakfast bar and a formal dining room with a tray ceiling and arched entry, according to the listing. French doors open to an office. There are two master suites.

This Catawba, North Carolina home is on the market for $975,000. (Chris Sheridan Visuals)

The home also features a screened porch. The property’s outdoor space includes a covered patio, an outdoor fireplace and a covered dock and boat lift.

This Catawba, North Carolina home is on the market for $975,000. (Chris Sheridan Visuals)

A smaller wooded waterfront lot across the street is also included with the property.

This Catawba, North Carolina home is on the market for $975,000. (Chris Sheridan Visuals)

HERE’S WHAT YOU CAN GET FOR $800,000 IN FLAGSTAFF, ARIZONA

Cornelius – $950,000

This home in Cornelius, North Carolina is listed for $950,000. (Ivester Jackson Properties)

GET FOX BUSINESS ON THE GO BY CLICKING HERE

This home sits near the end of a cul-de-sac just off the eastern shore of Lake Norman.

The 3,715-square-foot home includes four bedrooms, three bathrooms and one half-bath, according to the listing with Sherry Hickman of Ivester Jackson Properties.

This home in Cornelius, North Carolina is listed for $950,000. (Ivester Jackson Properties)

The 2007-built home includes a huge ground floor master suite with a separate tub and shower and a dressing room. There's a second suite upstairs, according to the listing. The two-story great room includes a fireplace and built-in shelves, and it opens to a large modern kitchen.

This home in Cornelius, North Carolina is listed for $950,000. (Ivester Jackson Properties)

Outside, the property includes a large stone fireplace and a water feature, according to the listing.

This home in Cornelius, North Carolina is listed for $950,000. (Ivester Jackson Properties)

The HOA covers yard maintenance services including weekly mowing and trimming plus seasonal aeration and seeding.

This home in Cornelius, North Carolina is listed for $950,000. (Ivester Jackson Properties)

READ MORE ON FOX BUSINESS BY CLICKING HERE

Source: Read Full Article