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.
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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.
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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.
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