Lake Norman Real Estate Market Update December 2017

Lake Norman Real Estate Market Update

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

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