Lake Norman Real Estate Market Update

Lake Norman Real Estate Market Update August 2016

Lake Norman Real Estate Market Update August 2016

Lake Norman Homes
In August 200 homes sold in the Lake Norman area, a 21.2% increase from the 165 homes sold in July. The August 2016 sales figures increased 14.9% from August 2015 when 174 homes sold in the Lake Norman area.

The average sales price increased 2.7% from $568,320 in July to record high of $583,529 in August. The August 2016 average sales price increased 30.2% from the August 2015 average sales price which was $448,069.

Average days on the market increased 2.5% from 79 days on the market in July to 81 days on the market in August. The August 2015 average days on the market were 79, a 2.5% decrease in market time.

Currently there are 989 active homes for sale in the Lake Norman MLS area, down 2.6% from August. The average list price is $764,045 down 1.1% from the August average list price of $772,921. The average days on the market are 200. 340 Lake Norman homes are currently under contract, down 4.8% 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 27 condos/townhomes sold in the Lake Norman area, an 15.6% decrease from the 32 condos or townhomes sold in July. August 2016 sales figures decreased 18.2% from August 2015 when 33 Lake Norman condos sold.

The average sales price decreased 6.2% from $226,502 in July to $212,418 in August. The August 2016 average sales price increased .3% from the August 2015 average sales price which was $211,819.

Average days on the market increased 58.5% from 41 in July to 65 in August. The August 2015 average days on the market were 60, an 8.3% increase in market time.

Currently there are 57 active condo/townhome listings for sale in the Lake Norman MLS area, a 16.2% decrease from the 68 condos for sale in August. The average list price is $261,034, up 1.2% from August’s average list price of $257,965. The average days on the market are 97. 51 Lake Norman condos/townhomes are currently under contract, a 10.9% 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 23 lots sold in the Lake Norman area, a 4.5% increase from the 22 lots sold in July. August 2016 sales figures increased 43.8% from August 2015 when 16 Lake Norman lots sold.

The average sales price decreased 36.1% from $251,211 in July to $160,432 in August. The August 2016 average sales price decreased 20.3% from the August 2015 average sales price which was $201,400.

Average days on the market increased 15.8% from 146 in July to 169 in August. The August 2015 average days on the market were 260, a 35% decrease in market time versus the same time period last year.

Currently there are 677 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.6% from August. The average list price is $263,429, down 3.1% from August’s average list price of $271,869. The average days on the market are 541. 73 Lake Norman area lots are currently under contract, a 5.8% increase from August.

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