Lake Norman Real Estate Market Update March 2016
Lake Norman Homes
In March 110 homes sold in the Lake Norman area, an 8.9% increase from the 101 homes sold in Febraury. The March 2016 sales figures decreased 20.9% from March 2015 when 139 homes sold in the Lake Norman area.
The average sales price decreased 8% from $509,783 in February to $469,255 in March. The March 2016 average sales price increased 14.7% from the March 2015 average sales price which was $409,009.
Average days on the market decreased 13% from 100 days on the market in February to 87 days on the market in March. The March 2015 average days on the market were 91, a 4.4% decrease in market time.
Currently there are 931 active homes for sale in the Lake Norman MLS area, up 12.7% from March. The average list price is $786,294 up .9% from the March average list price of $779,078. The average days on the market are 183. 344 Lake Norman homes are currently under contract, up 14.3% from March.
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Lake Norman Condos & Townhomes
In March 29 condos/townhomes sold in the Lake Norman area, a 3.3% decrease from the 30 condos or townhomes sold in February. March 2016 sales figures increased 16% from March 2015 when 25 Lake Norman condos sold.
The average sales price increased 4.6% from $209,231 in February to $218,796 in March. The March 2016 average sales price increased 12.1% from the March 2015 average sales price which was $195,193.
Average days on the market decreased 1.4% from 74 in February to 73 in March. The March 2015 average days on the market were 77, a 5.2% decrease in market time.
Currently there are 77 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.1% decrease from the 82 condos for sale in March. The average list price is $276,127, up 5.2% from March’s average list price of $262,574. The average days on the market are 109. 53 Lake Norman condos/townhomes are currently under contract, a 23.3% increase from March.
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Lake Norman Lots
In March 31 lots sold in the Lake Norman area, a 41% increase from the 22 lots sold in February. March 2016 sales figures increased 41% from March 2015 when 22 Lake Norman lots sold.
The average sales price increased 7.8% from $137,663 in February to $148,371 in March. The March 2016 average sales price decreased 33.3% from the March 2015 average sales price which was $222,300.
Average days on the market decreased 1.2% from 172 in February to 170 in March. The March 2015 average days on the market were 231, a 26.4% decrease in market time versus the same time period last year.
Currently there are 690 active lot listings for sale in the Lake Norman MLS area, an increase of 2.7% from March. The average list price is $242,774, down 2.6% from March’s average list price of $249,235. The average days on the market are 505. 79 Lake Norman area lots are currently under contract, a 1.3% increase from March.
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