Lake Norman Real Estate Market Update April 2017

Lake Norman Real Estate Market Update
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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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