Lake Norman Real Estate Market Update April 2016

Lake Norman Real Estate Market Update April 2016

Lake Norman Homes
In April 131 homes sold in the Lake Norman area, an 18% increase from the 111 homes sold in March. The April 2016 sales figures decreased 5.8% from April 2015 when 139 homes sold in the Lake Norman area.

The average sales price increased 7.2% from $466,468 in March to $500,241 in April. The April 2016 average sales price increased 7.6% from the April 2015 average sales price which was $464,956.

Average days on the market decreased 1.2% from 86 days on the market in March to 85 days on the market in April. The April 2015 average days on the market were 103, a 17.5% decrease in market time.

Currently there are 962 active homes for sale in the Lake Norman MLS area, up 3.3% from April. The average list price is $801,411 up 1.9% from the April average list price of $786,294. The average days on the market are 185. 372 Lake Norman homes are currently under contract, up 8.1% from April.

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Lake Norman Condos & Townhomes
In April 28 condos/townhomes sold in the Lake Norman area, a 3.4% decrease from the 29 condos or townhomes sold in March. April 2016 sales figures decreased 12.5% from April 2015 when 32 Lake Norman condos sold.

The average sales price decreased 7.2% from $218,796 in March to $202,963 in April. The April 2016 average sales price increased 16.1% from the April 2015 average sales price which was $174,758.

Average days on the market decreased 2.7% from 73 in March to 71 in April. The April 2015 average days on the market were 69, a 2.9% increase in market time.

Currently there are 77 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% decrease from the 77 condos for sale in April. The average list price is $289,372, up 4.8% from April’s average list price of $276,127. The average days on the market are 107. 44 Lake Norman condos/townhomes are currently under contract, a 17% decrease from April.

Stay up to date on the Lake Norman real estate market with our FREE market updates:LakeNormanHomePrices.com

Lake Norman Lots
In April 20 lots sold in the Lake Norman area, a 35.5% decrease from the 31 lots sold in March. April 2016 sales figures decreased 16.7% from April 2015 when 24 Lake Norman lots sold.

The average sales price increased 34% from $148,371 in March to $198,890 in April. The April 2016 average sales price increased 36.5% from the April 2015 average sales price which was $145,678.

Average days on the market increased 8.2% from 170 in March to 184 in April. The April 2015 average days on the market were 213, a 13.6% decrease in market time versus the same time period last year.

Currently there are 699 active lot listings for sale in the Lake Norman MLS area, an increase of 1.3% from April. The average list price is $254,207, up 4.7% from April’s average list price of $242,774. The average days on the market are 507. 79 Lake Norman area lots are currently under contract, a 0% increase from April.

Stay up to date on the Lake Norman real estate market with our FREE market updates:LakeNormanHomePrices.com