Lake Norman Real Estate Market Update April 2017

Lake Norman Real Estate Market Update

Lake Norman Real Estate Market Update April 2017

Lake Norman Homes
In April 2017 157 homes sold in the Lake Norman area, a 15.1% decrease from the 185 homes sold in March but the highest April total since2005. The April 2017 sales figures increased 15.4% from April 2016 when 136 homes sold in the Lake Norman area.

The average sales price decreased 4% from $504,721 in March to $484,575 in April. The April 2017 average sales price decreased 2.6% from the April 2016 average sales price which was $497,349.

Average days on the market decreased 9.6% from 94 days on the market in March to 85 days on the market in April. The April 2016 average days on the market were 83, a 2.4% increase in market time from last year.

Currently there are 951 active homes for sale in the Lake Norman MLS area, up 4.7% from April. The average list price is $777,569 up 1.7% from the April average list price of $764,373. The average days on the market are 162. 425 Lake Norman homes are currently under contract, up 3.4% from April. Based on this data we are currently in a balanced real estate market, 6 months of inventory, in the Lake Norman real estate market.

Stay up to date on the Lake Norman real estate market with our FREE market updates:LakeNormanHomePrices.com

Lake Norman Condos & Townhomes
In April 2017 32 condos/townhomes sold in the Lake Norman area, an 18.2% decrease from the 44 condos or townhomes sold in March 2017. April 2017 sales figures increased 14.3% from April 2016 when 28 Lake Norman condos sold.

The average sales price increased 1% from $244,881 in March to $247,286 in April. The April 2017 average sales price increased 21.8% from the April 2016 average sales price which was $202,963.

Average days on the market decreased 32.8% from 64 in March to 43 in April. The April 2016 average days on the market were 71, a 39.4% decrease in market time.

Currently there are 53 active condo/townhome listings for sale in the Lake Norman MLS area, a 39.4% increase from the 38 active condos for sale in April. The average list price is $278,794, down 1.7% from April’s average list price of $283,688. The average days on the market are 53. 38 Lake Norman condos/townhomes are currently under contract, a 0% decrease from April. Based on this months data we are currently in a sellers market, only 1.7 months of inventory, in the Lake Norman condo market.

Stay up to date on the Lake Norman real estate market with our FREE market updates:LakeNormanHomePrices.com

Lake Norman Lots
In April 2017 25 lots sold in the Lake Norman area, a 3.8% decrease from the 26 lots sold in March 2017. April 2017 sales figures increased 13.6% from April 2016 when 22 Lake Norman lots sold.

The average sales price increased 37.6% from $140,565 in March to $193,436 in April. The April 2017 average sales price decreased 5.6% from the April 2016 average sales price which was $204,809.

Average days on the market increased 63.7% from 182 in March to 298 in April. The April 2016 average days on the market were 181, a 64.6% increase in market time versus the same time period last year.

Currently there are 648 active lot listings for sale in the Lake Norman MLS area, an increase of 2.9% from April. The average list price is $278,963, down .3% from April’s average list price of $279,770. The average days on the market are 533. 90 Lake Norman area lots are currently under contract, a 28% increase from April. Based on this data, 26 months of inventory, we are in a buyers market for Lake Norman lots & land.

Stay up to date on the Lake Norman real estate market with our FREE market updates: LakeNormanHomePrices.com

The image below is provided by the local Realtor Association and uses a different map then we do.
Click image for more legible picture.

Lake Norman Market Stats

 

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