Lake Norman Real Estate Market Update February 2019

Mar 29, 2019

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Lake Norman Real Estate Update February 2019

Lake Norman Homes

In February 2019 123 homes sold in the Lake Norman area, a 13.9% increase from the 108 homes sold in January 2019. The February 2019 sales figures increased 4.2% from February 2018 when 118 homes sold in the Lake Norman real estate market.

The average sales price increased by 2.6% from $485,103 in January to $497,650 in February 2019. The February 2019 average sales price decreased 6.2% from the February 2018 average sales price which was $530,607.

Average days on the market decreased by 8.2% from 85 days on the market in January to 78 days on the market in February 2019. The February 2018 average days on the market were 98, an 20.4% decrease in market time from last year.

Currently there are 756 active homes for sale in the Lake Norman MLS area, up 6.5% from February. The average list price is $773,848 up .09% from the February average list price of $773,160. The average days on the market are 156. There are 351 Lake Norman homes currently under contract, up 6% from February. Based on this data we are currently in a seller’s market, 1.6 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 February 2019 18 condos/townhomes sold in the Lake Norman area, a 12.5% increase from the 16 condos or townhomes sold in January 2019. February 2019 sales figures increased 20% from February 2018 when 15 Lake Norman condos sold.

The average sales price decreased by 3% from $256,301 in January to $248,622 in February 2019. The February 2019 average sales price increased 16.8% from the February 2018 average sales price which was $212,873.

Average days on the market increased by 119% from 26 in January to 57 in February 2019. The February 2018 average days on the market were 45, a 26.7% increase in market time from one year ago.

Currently there are 76 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% increase from the 76 active condos for sale in February. The average list price is $336,947, down 6% from February’s average list price of $358,577. The average days on the market are 99. There are 62 Lake Norman condos/townhomes currently under contract, a 10.7% increase from February. Based on this months data we are currently in seller’srs 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 Land & Lots

In February 2019 14 lots sold in the Lake Norman area, a 30% decrease from the 20 lots sold in January 2019. February 2019 sales figures decreased 4.8% from February 2018 when 21 Lake Norman lots sold.

The average sales price decreased by 36.4% from $330,250 in January to $210,036 in February 2019. The February 2019 average sales price increased 70.5% from the February 2018 average sales price which was $123,162.

Average days on the market increased by 8.1% from 234 in January to 253 in February 2019. The February 2018 average days on the market were 135, a 87.4% increase in market time versus the same time period last year.

Currently there are 551 active lot listings for sale in the Lake Norman MLS area, an increase of 9.8% from February. The average list price is $276,222, up 5.2% from February’s average list price of $262,487. The average days on the market are 462. There are 54 Lake Norman area lots currently under contract, a 5.3% decrease from February . Based on this data, 8.1 months of inventory, we are in a balanced market for Lake Norman lots & land.