Lake Norman Real Estate Market Update August 2014

August 2014 Lake Norman Real Estate Market Update

Lake Norman Homes
In August 2014 148 homes sold in the Lake Norman area, a 18.7% decrease from the 182 homes sold in July. August 2014 sales figures increased 2.8% from August 2013 when 144 homes sold in the Lake Norman area.

The average sales price increased 15.7% from $492,346 in July to $569,498 in August. The August 2014 average sales price increased 20.2% from the August 2013 average sales price which was $473,644. This was the highest average sales price in August over the last 10 years!

Average days on the market increased 37.3% from 75 days in July to 103 days on the market in August. August 2013 average days on the market were 115, a 10.4% decrease in market time.

Currently there are 1,103 homes for sale in the Lake Norman MLS area, down 5.4% from July. The average list price is $642,486 up 1.5% from the July average list price of $633,277. The average days on the market are 131. 302 Lake Norman homes are currently under contract, up 10.2% from July.

It is a great time to sell! Request a free market analysis on LakeNormanHomePrices.com

Lake Norman Condos & Townhomes
In August 2014 25 condos/townhomes sold in the Lake Norman area, a 7.4% decrease from the 27 condos or townhomes sold in July 2014. August 2014 sales figures increased 92.3% from August 2013 when 13 Lake Norman condos sold.

The average sales price decreased 5.3% from $212,038 in July 2014 to $200,886 in August 2014. August 2014 average sales price decreased 3.2% from the August  2013 average sales price which was $207,577.

Average days on the market increased 5.4% from 56 in July to 59 in August. August 2013 average days on the market were 86.

Currently there are 103 condo/townhomes for sale in the Lake Norman MLS area,a 7.2% decrease from the 111 condos for sale in July. The average list price is $232,054, up 1.5% from July’s average list price of $228,659. The average days on the market are 110. 22 Lake Norman condos/townhomes are currently under contract, an 8.3% decrease from July.

Lake Norman Lots
In August 2014 30 lots sold in the Lake Norman area, a 11.8% decrease from the 34 lots sold in July. August 2014 sales figures increased 66.7% from August 2013 when 18 lots sold.

The average sales price decreased 51.2% from $315,250 in July to $153,821 in August. August 2014 average sales price increased 44.5% from the August 2013 average sales price which was $106,458.

Average days on the market increased 50% from 118 in July to 177 in August. August 2013 average days on the market were 285, a 37.9% decrease in market time versus the same time period last year.

Currently there are 754 lots for sale in the Lake Norman MLS area. The average list price is $241,012, down 1.5% from July’s average list price of $244,666. The average days on the market are 354. 35 Lake Norman area lots are currently under contract, a 5.4% decrease from July.

If you would like to search for Lake Norman properties for sale please visit our website: Search Lake Norman Real Estate Listings