Lake Norman Real Estate Market Update August 2015

Lake Norman Real Estate Market Update August 2015

Lake Norman Homes
In August 2015 173 homes sold in the Lake Norman area, a 13.5% decrease from the 200 homes sold in July and the highest August sales total since July 2006. The August 2015 sales figures increased 16.1% from August 2014 when 149 homes sold in the Lake Norman area.

The average sales price decreased 5.7% from $499,393 in July to $470,939 in August. The August 2015 average sales price decreased 18.1% from the August 2014 average sales price which was $575,118.

Average days on the market decreased 8% from 88 days on the market in July to 81 days on the market in August. August 2014 average days on the market were 101, an 19.8% decrease in market time.

Currently there are 938 homes for sale in the Lake Norman MLS area, down 3.8% from August. The average list price is $746,123 up .6% from the August average list price of $741,584. The average days on the market are 192. 245 Lake Norman homes are currently under contract, down 21.7% from August.

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

Lake Norman Condos & Townhomes
In August 2015 34 condos/townhomes sold in the Lake Norman area, a 17.1% decrease from the 41 condos or townhomes sold in July 2015. August 2015 sales figures increased 36% from August 2014 when 25 Lake Norman condos sold.

The average sales price increased .9% from $210,615 in July 2015 to $212,583 in August 2015. The August 2015 average sales price increased 5.8% from the August 2014 average sales price which was $200,886.

Average days on the market decreased 27.5% from 69 in July to 50 in August. August 2014 average days on the market were 59, a 15.3% decrease in market time.

Currently there are 122 condo/townhomes for sale in the Lake Norman MLS area, a 0% decrease from the 122 condos for sale in August. The average list price is $245,240, down 2% from August’s average list price of $250,253. The average days on the market are 101. 40 Lake Norman condos/townhomes are currently under contract, a 21.2% increase from August.

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

Lake Norman Lots
In August 2015 15 lots sold in the Lake Norman area, a 59.5% decrease from the 37 lots sold in July. August 2015 sales figures decreased 48.3% from August 2014 when 29 Lake Norman lots sold.

The average sales price increased 25.1% from $107,796 in July to $134,893 in August. The August 2015 average sales price decreased 12.9% from the August 2014 average sales price which was $154,904.

Average days on the market increased 67.3% from 156 in July to 261 in August. The August 2014 average days on the market were 182, a 43.4% increase in market time versus the same time period last year.

Currently there are 769 lots for sale in the Lake Norman MLS area, a decrease of .3% from August. The average list price is $248,926, down 2.9% from August’s average list price of $256,370. The average days on the market are 467. 65 Lake Norman area lots are currently under contract, a 9.7% decrease from August.

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