Lake Norman Real Estate Market Update July 2015
Lake Norman Homes
In July 2015 200 homes sold in the Lake Norman area, a 2.6% increase from the 195 homes sold in June and the highest sales total of any month since June 2006. The July 2015 sales figures increased 9.3% from July 2014 when 183 homes sold in the Lake Norman area.
The average sales price decreased .4% from $501,611 in June to $499,393 in July. The July 2015 average sales price increased 1.6% from the July 2014 average sales price which was $491,721.
Average days on the market increased 2.3% from 86 days on the market in June to 88 days on the market in July. July 2014 average days on the market were 74, an 18.9% increase in market time.
Currently there are 975 homes for sale in the Lake Norman MLS area, down 2.7% from July. The average list price is $741,584 up 9.9% from the July average list price of $675,049. The average days on the market are 182. 313 Lake Norman homes are currently under contract, down 3.7% from July.
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Lake Norman Condos & Townhomes
In July 2015 41 condos/townhomes sold in the Lake Norman area, a 64% increase from the 25 condos or townhomes sold in June 2015. July 2015 sales figures increased 51.9% from July 2014 when 27 Lake Norman condos sold.
The average sales price increased 6.3% from $200,516 in June 2015 to $213,054 in July 2015. The July 2015 average sales price decreased 1% from the July 2014 average sales price which was $215,111.
Average days on the market increased 3% from 67 in June to 69 in July. July 2014 average days on the market were 54, a 27.8% increase in market time.
Currently there are 122 condo/townhomes for sale in the Lake Norman MLS area, a 10.3% decrease from the 136 condos for sale in July. The average list price is $250,253, up 2.2% from July’s average list price of $244,867. The average days on the market are 112. 33 Lake Norman condos/townhomes are currently under contract, a 29.8% decrease from July.
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Lake Norman Lots
In July 2015 37 lots sold in the Lake Norman area, a 12.1% increase from the 33 lots sold in June. July 2015 sales figures increased 8.8% from July 2014 when 34 Lake Norman lots sold.
The average sales price decreased 38.1% from $174,262 in June to $107,796 in July. The July 2015 average sales price decreased 65.8% from the July 2014 average sales price which was $315,250.
Average days on the market increased 69.6% from 92 in June to 156 in July. The July 2014 average days on the market were 118, a 32.2% increase in market time versus the same time period last year.
Currently there are 771 lots for sale in the Lake Norman MLS area, a decrease of 2.9% from July. The average list price is $256,370, up 2.2% from July’s average list price of $250,694. The average days on the market are 452. 72 Lake Norman area lots are currently under contract, a 53.2% increase from July.
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