Lake Norman Real Estate Market Update April 2019

May 26, 2019

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Lake Norman Real Estate Update April 2019

Lake Norman Homes

In April 2019 189 homes sold in the Lake Norman area, a 15.2% increase from the 164 homes sold in March 2019. The April 2019 sales figures increased 8% from April 2018 when 175 homes sold in the Lake Norman real estate market.

The average sales price increased by 25.4% from $452,587 in March to $567,567 in April 2019. The April 2019 average sales price decreased 3.2% from the April 2018 average sales price which was $586,585.

Average days on the market decreased by 14.1% from 85 days on the market in March to 73 days on the market in April 2019. The April 2018 average days on the market were 77, a 5.2% decrease in market time from last year.

Currently, there are 774 active homes for sale in the Lake Norman MLS area, up 1.2% from April. The average list price is $811,386 up 3.1% from the April average list price of $787,354. The average days on the market are 142. There are 423 Lake Norman homes currently under contract, up 2.2% from April. Based on this data we are currently in a seller’s market, 1.3 months of inventory, in the Lake Norman real estate market.

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

Lake Norman Condos & Townhomes

In April 2019 36 condos/townhomes sold in the Lake Norman area, a 0% increase from the 36 condos or townhomes sold in March 2019. April 2019 sales figures increased 62.6% from April 2018 when 22 Lake Norman condos sold.

The average sales price increased by 15.6% from $228,899 in March to $264,580 in April 2019. The April 2019 average sales price decreased 5.4% from the April 2018 average sales price which was $279,788.

Average days on the market increased by 26.7% from 45 in March to 57 in April 2019. The April 2018 average days on the market were 40, a 42.5% increase in market time from one year ago.

Currently, there are 89 active condo/townhome listings for sale in the Lake Norman MLS area, a 3.5% increase from the 86 active condos for sale in April. The average list price is $304,400, down 9.2% from April’s average list price of $335,245. The average days on the market are 87. There are 44 Lake Norman condos/townhomes currently under contract, a 12% decrease from April. Based on this months data we are currently in seller’s market, only 1.1 months of inventory, in the Lake Norman condo market.

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

Lake Norman Land & Lots

In April 2019 21 lots sold in the Lake Norman area, a 40% increase from the 15 lots sold in March 2019. April 2019 sales figures decreased 43.2% from April 2018 when 37 Lake Norman lots sold.

The average sales price increased by 8.3% from $155,067 in March to $167,876 in April 2019. The April 2019 average sales price increased 38.4% from the April 2018 average sales price which was $121,321.

Average days on the market decreased by 14.8% from 182 in March to 155 in April 2019. The April 2018 average days on the market were 294, an 47.3% decrease in market time versus the same time period last year.

Currently, there are 550 active lot listings for sale in the Lake Norman MLS area, a decrease of 1.4% from April. The average list price is $296,583, up 6.1% from April’s average list price of $279,601. The average days on the market are 427. There are 60 Lake Norman area lots currently under contract, a 6.3% decrease from April. Based on this data, 6.8 months of inventory, we are in a balanced market for Lake Norman lots & land.