May 2015 Lake Norman Real Estate Market Update
Lake Norman Homes
In May 2015 174 homes sold in the Lake Norman area, a 29.9% increase from the 134 homes sold in April and the highest May sales total since May 2006. The May 2015 sales figures increased 14.5% from May 2014 when 152 homes sold in the Lake Norman area.
The average sales price increased 7.7% from $460,424 in April to $495,849 in May. The May 2015 average sales price decreased 1.3% from the May 2014 average sales price which was $502,458.
Average days on the market decreased 33% from 108 days on the market in May to 81 days on the market in May. May 2014 average days on the market were 107, a 24.3% decrease in market time.
Currently there are 1023 homes for sale in the Lake Norman MLS area, up 2.3% from May. The average list price is $665,366 up 1.9% from the May average list price of $652,951. The average days on the market are 163. 347 Lake Norman homes are currently under contract, down 8% from May.
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Lake Norman Condos & Townhomes
In May 2015 32 condos/townhomes sold in the Lake Norman area, a 3% decrease from the 33 condos or townhomes sold in April 2015. May 2015 sales figures increased 39.1% from May 2014 when 23 Lake Norman condos sold.
The average sales price increased 9.2% from $191,977 in April 2014 to $209,670 in May 2015. The May 2015 average sales price increased 10.1% from the May 2014 average sales price which was $190,452.
Average days on the market increased 11.7% from 77 in April to 86 in May. May 2014 average days on the market were 116, a 25.9% decrease in market time.
Currently there are 141 condo/townhomes for sale in the Lake Norman MLS area, a 2.9% increase from the 137 condos for sale in May. The average list price is $244,729, up 1.3% from May’s average list price of $241,677. The average days on the market are 101. 45 Lake Norman condos/townhomes are currently under contract, a 15.4% increase from May.
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Lake Norman Lots
In May 2015 28 lots sold in the Lake Norman area, a 55.6% increase from the 18 lots sold in April. May 2015 sales figures increased 3.7% from May 2014 when 27 Lake Norman lots sold.
The average sales price increased 12.9% from $146,132 in April to $164,996 in May. The May 2015 average sales price increased 41.7% from the May 2014 average sales price which was $116,456.
Average days on the market increased 29.2% from 185 in April to 239 in May. The May 2014 average days on the market were 222, a 7.7% increase in market time versus the same time period last year.
Currently there are 790 lots for sale in the Lake Norman MLS area, an increase of 4.2% from May. The average list price is $243,096, up .3% from May’s average list price of $242,374. The average days on the market are 435. 62 Lake Norman area lots are currently under contract, a 3.1% decrease from May.
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