Lake Norman Real Estate Market Update June 2016
Lake Norman Homes
In June 210 homes sold in the Lake Norman area, a 35% increase from the 156 homes sold in May. The June 2016 sales figures decreased 0% from June 2015 when 210 homes sold in the Lake Norman area.
The average sales price increased 12% from $501,229 in May to $561,078 in June. The June 2016 average sales price increased 15% from the June 2015 average sales price which was $487,688.
Average days on the market decreased 2.6% from 76 days on the market in May to 74 days on the market in June. The June 2015 average days on the market were 86, a 14% decrease in market time.
Currently there are 1072 active homes for sale in the Lake Norman MLS area, up 4.9% from June. The average list price is $764,822 down 1.8% from the June average list price of $779,166. The average days on the market are 182. 345 Lake Norman homes are currently under contract, down 9% from June.
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Lake Norman Condos & Townhomes
In June 35 condos/townhomes sold in the Lake Norman area, a 25% increase from the 28 condos or townhomes sold in May. June 2016 sales figures increased 29.6% from June 2015 when 27 Lake Norman condos sold.
The average sales price increased 6.4% from $197,488 in May to $210,120 in June. The June 2016 average sales price decreased .5% from the June 2015 average sales price which was $211,237.
Average days on the market increased 14.3% from 56 in May to 64 in June. The June 2015 average days on the market were 79, a 19% decrease in market time.
Currently there are 71 active condo/townhome listings for sale in the Lake Norman MLS area, a 2.7% decrease from the 73 condos for sale in June. The average list price is $261,326, down 4.1% from June’s average list price of $272,549. The average days on the market are 107. 41 Lake Norman condos/townhomes are currently under contract, an 18% decrease from June.
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Lake Norman Lots
In June 39 lots sold in the Lake Norman area, a 70% increase from the 23 lots sold in May. June 2016 sales figures increased 18.2% from June 2015 when 33 Lake Norman lots sold.
The average sales price increased 37.5% from $219,498 in May to $301,851 in June. The June 2016 average sales price increased 110% from the June 2015 average sales price which was $143,733.
Average days on the market increased 26.2% from 183 in May to 231 in June. The June 2015 average days on the market were 124, an 86.3% increase in market time versus the same time period last year.
Currently there are 716 active lot listings for sale in the Lake Norman MLS area, an increase of 0% from June. The average list price is $274,239, up 1.5% from June’s average list price of $270,315. The average days on the market are 500. 57 Lake Norman area lots are currently under contract, a 23% decrease from June.
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