Search for homes in The Farms and the results will not make sense at first. One listing sits on a fifth of an acre and asks the high $300s. Another, a few streets over, claims a full acre and a $1.5 million price tag. Both carry the same subdivision name. Both promise the same clubhouse. A buyer scrolling through this range could be forgiven for thinking the data is broken.

It isn't. The Farms is not one neighborhood wearing one price tag. It is two separate housing products that happen to share an HOA, a mailing address, and a single amenity complex called The Homestead. Understanding that split, not the blended median that shows up in a portal search, is what actually tells you what your money buys here.

Two Communities, One Name

The original section of The Farms took shape in the early 2000s as a Crescent Communities development of custom and semi-custom homes. Roughly 300 of these houses were built mostly between 2003 and 2009, sitting on lots that average close to an acre. At the time they were built, prices ran from the mid-$500s to the high-$700s, and the builder roster reads like a list of Lake Norman's custom-home names: Cyras Custom Homes, E.S. Johnson Builders, J.S. Testa, Jasper Builders, Kingswood Custom Homes, MI Homes, Stonebridge Luxury Homes, Strom Construction, and Whitley.

Later, national builder Lennar began work on a second, distinct section under the same community name. These homes sit on lots that average about two-tenths of an acre, a fraction of the original section's footprint, and they were originally priced in the mid to upper $300s. Lennar's building here continued through 2019, well after the custom section had largely built out.

Both sections pay dues to the same property owners association. Both are marketed, listed, and searched under the identical name: The Farms. Almost nothing else about them matches.

One Clubhouse, Two Different Commutes to It

The Homestead is the community's physical and social center. It holds a clubhouse and picnic pavilion, a swimming pool, tennis and pickleball courts, basketball and volleyball space, an outdoor kitchen, fire pits, and a multipurpose field used for soccer and other activities. The Farms Hammerheads swim team practices and competes out of the pool there, and a full-time activities calendar runs camps and events through the year.

For the original section, The Homestead is a short walk or bike ride away. For the Lennar satellite section, it is roughly a three-mile drive. Residents in that later section still hold full access to the pool, the courts, and the swim team, but "access" and "proximity" are not the same benefit. A subdivision name that implies a single walkable amenity system is, for a meaningful share of homeowners here, describing a drive they make in a car.

What the Blended Number Is Hiding

Pull recent sales data for the entire subdivision and the range tells the same story from a different angle. Over the past year, single-family homes across The Farms have closed anywhere from about $470,000 to $1.55 million, with a median build year around 2006 and a median lot size near 0.82 acres. That spread is not noise. It is two markets averaging into one number.

For comparison, Mooresville's overall median sale price ran about $430,000 during the three months ending in May 2026. The Farms as a whole sits above that town-wide figure, but the blended median still buries the real story: the original section trades in a price tier well above both the town median and the subdivision's own average, while the satellite section prices closer to what a typical Mooresville buyer already expects to pay townwide. A single "median price for The Farms" describes neither section particularly well. It describes the midpoint between two different products.

Reported HOA dues add to the confusion rather than clearing it up. Depending on the source, figures for The Farms range from roughly $800 paid twice a year on one listing to more than $1,400 annually cited elsewhere, a spread wide enough to suggest the fee structure itself may differ by section or by when a listing was recorded. That inconsistency is itself useful information: it is one more sign that "The Farms" functions as an umbrella name over more than one internal arrangement, not a single uniform product with a single uniform cost.

How to Actually Search This Neighborhood

None of this means one section is better than the other. It means the subdivision name alone is not a useful filter. A buyer comparing homes here gets a much clearer picture by checking three things before treating any two Farms listings as comparable:

First, ask which section a home sits in, not just whether it's "in The Farms." A custom builder's name on the listing sheet is usually a signal for the original section. A Lennar-built home almost always signals the satellite section.

Second, check actual drive time to The Homestead rather than relying on the marketing language. A brochure describing "resort-style amenities" is accurate for both sections. It is not equally convenient for both.

Third, confirm school assignment for the specific address rather than the subdivision as a whole. The Farms falls within the Iredell-Statesville Schools service area, and buyers here commonly reference Woodland Heights Elementary, The Brawley School, and Lake Norman High School. Attendance boundaries can differ by section within the same named community, and the district itself cautions that published boundary maps are a general reference rather than a guarantee for any single address.

A Short FAQ

Do both sections pay the same HOA dues for the same amenities? Both sections are billed by the same property owners association and both carry full access to The Homestead's pool, courts, and programming. Published dues figures vary by source, so confirm the current amount and billing schedule for the specific section and listing before assuming it matches a neighboring home.

Is every home in The Farms within walking distance of the pool and clubhouse? No. Homes in the original section are typically close to The Homestead. Homes in the Lennar satellite section are roughly a three-mile drive away, even though both carry full amenity access.

Does "The Farms" always mean lake access? Not automatically. The Farms sits off Brawley School Road on the Lake Norman peninsula, and Hager Creek Access Point off McKendree Road runs through the neighborhood as a public access option. Direct waterfront ownership, community dock access, and proximity to a public access point are three different things, and which one applies depends on the specific lot, not the subdivision name.

If you're weighing a home in The Farms against something elsewhere on the peninsula, the section matters as much as the subdivision. Besecker & Maynard Group works this corridor daily and can walk you through which streets sit in which section, what that means for price and daily use, and what your home is actually worth in today's market. Get your free home valuation and start with numbers specific to your address, not the subdivision average.