Lake Norman Waterfront Real Estate Update March 2019

Lake Norman Waterfront Real Estate Update March 2019

Lake Norman Waterfront Homes

In March 2019 20 waterfront homes sold in the Lake Norman area, a 26% decrease from the 27 Lake Norman waterfront homes sold in February 2019. March 2019 Lake Norman waterfront home sales figures decreased 31% from March 2018 when 29 Lake Norman waterfront homes sold.

The average sales price decreased by 6.5% from $890,833 in February to $832,913 in March 2019. The March 2019 average sales price decreased 11.7% from the March 2018 average sales price which was $942,831.

Average days on the market increased from 115 in February to 146 in March 2019, a 27% increase in market time. The March 2018 average days on the market were 112, a 30% increase in market time from one year ago.

Currently, there are 274 active Lake Norman waterfront homes listed in the MLS, up 8.7% from March. There are 89 Lake Norman waterfront homes under contract, up 35% from March. The average list price of active listings is $1,296,111 down 1.4% from March’s average list price of $1,313,951. The lowest priced active Lake Norman waterfront home is listed at $145,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In March 2019 14 waterfront condos or townhomes sold in the Lake Norman area, a 100% increase from the 7 Lake Norman waterfront condos sold in February 2019. March 2019 sales figures increased 55.6% from March 2018 when 9 Lake Norman waterfront condos sold.

The average sales price decreased by 15.7% from $314,857 in February to $265,536 in March 2019. The March 2019 average sales price decreased 16.5% from the March 2018 average sales price which was $318,100.

Average days on the market decreased by 21.4% from 70 in February to 55 days on the market in March 2019. The March 2018 average days on the market were 19 a 189% increase in market time from one year ago.

Currently there are 38 active Lake Norman waterfront condos listed in the MLS, a 5.6% increase in active inventory from March. There are 10 Lake Norman waterfront condos under contract, up 25% from March. The average list price of active listings is $332,208, up 3.9% from last months average list price of $319,849. The lowest priced active Lake Norman waterfront condo is listed at $192,000 and the highest priced active Lake Norman waterfront condo is listed at $1,025,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In March 2019 4 waterfront lots sold in the Lake Norman area, a 0% decrease from the 4 Lake Norman waterfront lots sold in February 2019. March 2019 sales figures decreased 33% from March 2018 when 6 Lake Norman waterfront lots sold.

The average sales price in March 2019 was $323,750, down 46% from the February 2019 average sales price which was $601,125. The March 2019 average sales price increased 7.8% from the March 2018 average sales price of $300,417.

The average days on the market decreased by 64% from 127 days in February to 46 days on the market in March 2019. Days on the market were down 70% from March 2018 when the average was 155 days on the market.

Currently, there are 215 active Lake Norman waterfront lots listed in the MLS, up 3.4% from March. There are 19 Lake Norman waterfront lots under contract, down 13.6% from March. The average list price is $445,056, up .5% from last month. The lowest priced Lake Norman waterfront lot is listed at $45.000 and the highest priced Lake Norman waterfront lot is listed at $2,950,000. Based on this data, 9.3 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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Lake Norman Real Estate Market Update March 2019

Lake Norman Real Estate Update March 2019

Lake Norman Homes

In March 2019 163 homes sold in the Lake Norman area,  a 32.5% increase from the 123 homes sold in February 2019. The March 2019 sales figures increased 17.3% from March 2018  when 139 homes sold in the Lake Norman real estate market.

The average sales price decreased by 9% from $497,650 in February to $453,009 in March 2019. The March 2019 average sales price decreased 5.9% from the March 2018 average sales price which was $481,307.

Average days on the market increased by 7.7% from 78 days on the market in February to 84 days on the market in March 2019. The March 2018 average days on the market were 93, a 9.7% decrease in market time from last year.

Currently, there are 765 active homes for sale in the Lake Norman MLS area, up 1.2% from March. The average list price is $787,354 up 1.7% from the March average list price of $773,848. The average days on the market are 147.  There are 414 Lake Norman homes currently under contract, up 18% from March. Based on this data we are currently in a seller’s market, 1.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In March 2019 35 condos/townhomes sold in the Lake Norman area, a 94% increase from the 18 condos or townhomes sold in February 2019. March 2019 sales figures decreased 7.9% from March 2018 when 38 Lake Norman condos sold.

The average sales price decreased by 8% from $248,622 in February to $228,575 in March 2019. The March 2019 average sales price decreased 5.8% from the March 2018 average sales price which was $242,690.

Average days on the market decreased by 21% from 57 in February to 45 in March 2019. The March 2018 average days on the market were 37, a  21.6% increase in market time from one year ago.

Currently, there are 86 active condo/townhome listings for sale in the Lake Norman MLS area, a 13% increase from the 76 active condos for sale in March. The average list price is $335,245, down .5% from March’s average list price of $336,947. The average days on the market are 106. There are 50 Lake Norman condos/townhomes currently under contract, a 19% decrease from March. Based on this months data we are currently in seller’s market, only 1 month of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In March 2019 14 lots sold in the Lake Norman area, a 0% decrease from the 14 lots sold in February 2019. March 2019 sales figures decreased 51.7% from March 2018 when 29 Lake Norman lots sold.

The average sales price decreased by 31.8% from $210,036 in February to $143,286 in March 2019. The March 2019 average sales price increased 23.3% from the March 2018 average sales price which was $116,210.

Average days on the market decreased by 23.3% from 253 in February to 194 in March 2019. The March 2018 average days on the market were 229, an 15.3% decrease in market time versus the same time period last year.

Currently, there are 558 active lot listings for sale in the Lake Norman MLS area, an increase of 1.3% from March. The average list price is $279,601, up 1.2% from March’s average list price of $276,222. The average days on the market are 453. There are 64 Lake Norman area lots currently under contract, an 18.5% increase from March. Based on this data, 7.2 months of inventory, we are in a balanced market for Lake Norman lots & land.

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Lake Norman Waterfront Real Estate Update February 2019

Lake Norman Waterfront Real Estate Update February 2019

Lake Norman Waterfront Homes

In February 2019 27 waterfront homes sold in the Lake Norman area, a 6.9% decrease from the 29 Lake Norman waterfront homes sold in January 2019. February 2019 Lake Norman waterfront home sales figures increased 3.8% from February 2018 when 26 Lake Norman waterfront homes sold.

The average sales price increased by 10.2% from $808,186 in January to $890,833 in February 2019. The February 2019 average sales price decreased 11.1% from the February 2018 average sales price which was $1,002,250.

Average days on the market increased from 119 in January to 115 in February 2019, a 3.4% decrease in market time. The February 2018 average days on the market were 145, a 20.7% decrease in market time from one year ago.

Currently there are 252 active Lake Norman waterfront homes listed in the MLS, up 8.6% from February. There are 66 Lake Norman waterfront homes under contract, up 32% from February. The average list price of active listings is $1,313,951 down 1.3% from February’s average list price of $1,331,714. The lowest priced active Lake Norman waterfront home is listed at $145,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In February 2019 7 waterfront condos or townhomes sold in the Lake Norman area, a 133% increase from the 3 Lake Norman waterfront condos sold in January 2019. February 2019 sales figures increased 75% from February 2018 when 4 Lake Norman waterfront condos sold.

The average sales price decreased by 8.8% from $345,333 in January to $314,857 in February 2019. The February 2019 average sales price increased 34.8% from the February 2018 average sales price which was $233,500.

Average days on the market increased by 141% from 29 in January to 70 days on the market in February 2019. The February 2018 average days on the market were 17 an 312% increase in market time from one year ago.

Currently there are 36 active Lake Norman waterfront condos listed in the MLS, a 24% increase in active inventory from February. There are 8 Lake Norman waterfront condos under contract, down 47% from February. The average list price of active listings is $319,489, down 15% from last months average list price of $376,066. The lowest priced active Lake Norman waterfront condo is listed at $194,000 and the highest priced active Lake Norman waterfront condo is listed at $1,040,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In February 2019 4 waterfront lots sold in the Lake Norman area, a 60% decrease from the 10 Lake Norman waterfront lots sold in January 2019. February 2019 sales figures decreased 42.9% from February 2018 when 7 Lake Norman waterfront lots sold.

The average sales price in February 2019 was $601,125, down 1% from the January 2019 average sales price which was $607,350. The February 2019 average sales price increased 157% from the February 2018 average sales price of $233,929.

The average days on the market decreased by 43.8% from 226 days in January to 127days on the market in February 2019. Days on the market were up 42.7% from February 2018 when the average was 89 days on the market.

Currently there are 208 active Lake Norman waterfront lots listed in the MLS, up 17.5% from February. There are 22 Lake Norman waterfront lots under contract, up 4.8% from February. The average list price is $443,062, down 1% from last month. The lowest priced Lake Norman waterfront lot is listed at $50.000 and the highest priced Lake Norman waterfront lot is listed at $2,950,000. Based on this data, 8 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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Lake Norman Real Estate Market Update February 2019

Lake Norman Real Estate Update February 2019

Lake Norman Homes

In February 2019 123 homes sold in the Lake Norman area,  a 13.9% increase from the 108 homes sold in January 2019. The February 2019 sales figures increased 4.2% from February 2018  when 118 homes sold in the Lake Norman real estate market.

The average sales price increased by 2.6% from $485,103 in January to $497,650 in February 2019. The February 2019 average sales price decreased 6.2% from the February 2018 average sales price which was $530,607.

Average days on the market decreased by 8.2% from 85 days on the market in January to 78 days on the market in February 2019. The February 2018 average days on the market were 98, an 20.4% decrease in market time from last year.

Currently there are 756 active homes for sale in the Lake Norman MLS area, up 6.5% from February. The average list price is $773,848 up .09% from the February average list price of $773,160. The average days on the market are 156.  There are 351 Lake Norman homes currently under contract, up 6% from February. Based on this data we are currently in a seller’s market, 1.6 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In February 2019 18 condos/townhomes sold in the Lake Norman area, a 12.5% increase from the 16 condos or townhomes sold in January 2019. February 2019 sales figures increased 20% from February 2018 when 15 Lake Norman condos sold.

The average sales price decreased by 3% from $256,301 in January to $248,622 in February 2019. The February 2019 average sales price increased 16.8% from the February 2018 average sales price which was $212,873.

Average days on the market increased by 119% from 26 in January to 57 in February 2019. The February 2018 average days on the market were 45, a  26.7% increase in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% increase from the 76 active condos for sale in February. The average list price is $336,947, down 6% from February’s average list price of $358,577. The average days on the market are 99. There are 62 Lake Norman condos/townhomes currently under contract, a 10.7% increase from February. Based on this months data we are currently in seller’srs market, only .8 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In February 2019 14 lots sold in the Lake Norman area, a 30% decrease from the 20 lots sold in January 2019. February 2019 sales figures decreased 4.8% from February 2018 when 21 Lake Norman lots sold.

The average sales price decreased by 36.4% from $330,250 in January to $210,036 in February 2019. The February 2019 average sales price increased 70.5% from the February 2018 average sales price which was $123,162.

Average days on the market increased by 8.1% from 234 in January to 253 in February 2019. The February 2018 average days on the market were 135, a 87.4% increase in market time versus the same time period last year.

Currently there are 551 active lot listings for sale in the Lake Norman MLS area, an increase of 9.8% from February. The average list price is $276,222, up 5.2% from February’s average list price of $262,487. The average days on the market are 462. There are 54 Lake Norman area lots currently under contract, a 5.3% decrease from February . Based on this data, 8.1 months of inventory, we are in a balanced market for Lake Norman lots & land.

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