LAKE NORMAN REAL ESTATE MARKET UPDATE JANUARY 2016
Lake Norman Homes
In January 2016 80 homes sold in the Lake Norman area, an 37.5% decrease from the 128 homes sold in December. The January 2016 sales figures increased 14.3% from January 2015 when 70 homes sold in the Lake Norman area.
The average sales price decreased 4.2% from $480,944 in December to $460,852 in January 2016. The January 2016 average sales price increased 16.3% from the January 2015 average sales price which was $396,376.
Average days on the market increased 9.6% from 83 days on the market in December to 91 days on the market in January. The January 2015 average days on the market were 108, a 15.7% decrease in market time.
Currently there are 778 active homes for sale in the Lake Norman MLS area, up 3.6% from January. The average list price is $768,822 down .5% from the January average list price of $772,850. The average days on the market are 227. 252 Lake Norman homes are currently under contract, up 14.3% from January.
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Lake Norman Condos & Townhomes
In January 2016 14 condos/townhomes sold in the Lake Norman area, a 48.1% decrease from the 27 condos or townhomes sold in December 2015. January 2016 ales figures increased 16.7% from January 2015 when 12 Lake Norman condos sold.
The average sales price decreased 22.8% from $252,882 in December 2015 to $195,104 in January 2016. The January 2016 average sales price decreased 17.3% from the January 2015 average sales price which was $235,798.
Average days on the market increased 77.8% from 63 in December to 112 in January. The January 2015 average days on the market were 111, a .9% increase in market time.
Currently there are 67 condo/townhomes for sale in the Lake Norman MLS area, a 16.25% decrease from the 80 condos for sale in January. The average list price is $262,7067, up 7.1% from January’s average list price of $245,305. The average days on the market are 108. 42 Lake Norman condos/townhomes are currently under contract, a 20% increase from January.
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Lake Norman Lots
In January 2016 7 lots sold in the Lake Norman area, a 50% decrease from the 14 lots sold in December. January 2016 sales figures decreased 73.1% from January 2015 when 26 Lake Norman lots sold.
The average sales price increased 10.6% from $118,543 in December to $131,065 in January. The January 2016 average sales price decreased 20.6% from the January 2015 average sales price which was $165,116.
Average days on the market increased 92.5% from 159 in December to 306 in January. The January 2015 average days on the market were 250, a 22.4% increase in market time versus the same time period last year.
Currently there are 647 active lot listings for sale in the Lake Norman MLS area, a decrease of 4.5% from January. The average list price is $246,876, down 5.3% from January’s average list price of $260,488. The average days on the market are 511. 63 Lake Norman area lots are currently under contract, a 3.3% increase from January.
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