Lake Norman Real Estate Market Update February 2016

Lake Norman Real Estate Market Update February 2016

Lake Norman Homes
In February 98 homes sold in the Lake Norman area, a 22.5% increase from the 80 homes sold in January. The February 2016 sales figures increased 10.1% from February 2015 when 89 homes sold in the Lake Norman area.

The average sales price increased 11.2% from $460,852 in January to $512,534 in February. The February 2016 average sales price increased 9.1% from the February 2015 average sales price which was $469,768.

Average days on the market increased 11% from 91 days on the market in January to 101 days on the market in February. The February 2015 average days on the market were 112, a 9.8% decrease in market time.

Currently there are 826 active homes for sale in the Lake Norman MLS area, up 6.2% from February. The average list price is $779,078 up 1.3% from the February average list price of $768,822. The average days on the market are 207. 303 Lake Norman homes are currently under contract, up 20% from February.

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Lake Norman Condos & Townhomes
In February 30 condos/townhomes sold in the Lake Norman area, a 100% increase from the 15 condos or townhomes sold in January. February 2016 sales figures increased 36.4% from February 2015 when 22 Lake Norman condos sold.

The average sales price increased 7.9% from $193,862 in January 2015 to $209,231 in February 2016. The February 2016 average sales price increased 12.1% from the February 2015 average sales price which was $186,661.

Average days on the market decreased 47.3% from 109 in January to 74 in February. The February 2015 average days on the market were 82, a 9.8% decrease in market time.

Currently there are 82 active condo/townhome listings for sale in the Lake Norman MLS area, a 22.4% increase from the 67 condos for sale in February. The average list price is $262,574, down .07% from February’s average list price of $262,767. The average days on the market are 99. 43 Lake Norman condos/townhomes are currently under contract, a 2.4% increase from February.

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Lake Norman Lots
In February 22 lots sold in the Lake Norman area, a 214% increase from the 7 lots sold in January. February 2016 sales figures increased 22.2% from February 2015 when 18 Lake Norman lots sold.

The average sales price increased 5% from $131,065 in January to $137,663 in February. The February 2016 average sales price decreased 39.5% from the February 2015 average sales price which was $227,472.

Average days on the market decreased 43.8% from 306 in January to 172 in February. The February 2015 average days on the market were 195, an 11.8% decrease in market time versus the same time period last year.

Currently there are 672 active lot listings for sale in the Lake Norman MLS area, an increase of 3.9% from February. The average list price is $249,235, up 9.6% from February’s average list price of $246,876. The average days on the market are 509. 78 Lake Norman area lots are currently under contract, a 23.8% increase from February.

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