Lake Norman Real Estate Market Update December 2017

Lake Norman Real Estate Market Update December 2017

Lake Norman Homes
In December 2017 172 homes sold in the Lake Norman area,  a 16.2% increase from the 148 homes sold in November. The December 2017 sales figures increased 27.4% from December 2016 when 135 homes sold in the Lake Norman real estate market.

The average sales price decreased 10.2% from $539,080 in November to $483,932 in December. The December 2017 average sales price decreased 3.8% from the December 2016 average sales price which was $503,091.

Average days on the market increased 12.5% from 80 days on the market in November to 90 days on the market in December. The December 2016 average days on the market were 94, a 4.3% decrease in market time from last year.

Currently there are 725 active homes for sale in the Lake Norman MLS area, down 5% from December. The average list price is $754,639 up 2.7% from the December average list price of $734,748. The average days on the market are 193. 250 Lake Norman homes are currently under contract, up 2% from December. Based on this data we are currently in a sellers  market, 4.2 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 December 2017 32 condos/townhomes sold in the Lake Norman area, a 3% decrease from the 33 condos or townhomes sold in November 2017. December 2017 sales figures increased 28% from December 2016 when 25 Lake Norman condos sold.

The average sales price increased 3% from $223,304 in November to $229,978 in December. The December 2017 average sales price increased 18% from the December 2016 average sales price which was $194,902.

Average days on the market increased 0% from 31 in November to 31 in December. The December 2016 average days on the market were 49, a 36.7% decrease in market time.

Currently there are 27 active condo/townhome listings for sale in the Lake Norman MLS area, a 10% decrease from the 30 active condos for sale in December. The average list price is $328,368, up 1.8% from December’s average list price of $322,710. The average days on the market are 76. 34 Lake Norman condos/townhomes are currently under contract, a 12.8% decrease from December. Based on this months data we are currently in a sellers market, only .8 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 Lots
In December 2017 16 lots sold in the Lake Norman area, a 23.8% decrease from the 21 lots sold in November 2017. December 2017 sales figures decreased 42.9% from December 2016 when 28 Lake Norman lots sold.

The average sales price increased 11.5% from $166,376 in November to $185,556 in December. The December 2017 average sales price decreased 49.1% from the December 2016 average sales price which was $364,832.

Average days on the market decreased 19.2% from 198 in November to 160 in December. The December 2016 average days on the market were 215, a 25.6% decrease in market time versus the same time period last year.

Currently there are 650 active lot listings for sale in the Lake Norman MLS area, an increase of 8.2% from December. The average list price is $257,977, down 7.8% from December’s average list price of $279,925. The average days on the market are 510. 58 Lake Norman area lots are currently under contract, a 1.7% decrease from December. Based on this data, 40.6 months of inventory, we are in a buyers market for Lake Norman lots & land.

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