Lake Norman Real Estate Market Update January 2016

LAKE NORMAN REAL ESTATE MARKET UPDATE JANUARY 2016

Lake Norman Homes
In January 2016 80 homes sold in the Lake Norman area, an 37.5% decrease from the 128 homes sold in December. The January 2016 sales figures increased 14.3% from January 2015 when 70 homes sold in the Lake Norman area.

The average sales price decreased 4.2% from $480,944 in December to $460,852 in January 2016. The January 2016 average sales price increased 16.3% from the January 2015 average sales price which was $396,376.

Average days on the market increased 9.6% from 83 days on the market in December to 91 days on the market in January. The January 2015 average days on the market were 108, a 15.7% decrease in market time.

Currently there are 778 active homes for sale in the Lake Norman MLS area, up 3.6% from January. The average list price is $768,822 down .5% from the January average list price of $772,850. The average days on the market are 227. 252 Lake Norman homes are currently under contract, up 14.3% from January.

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Lake Norman Condos & Townhomes
In January 2016 14 condos/townhomes sold in the Lake Norman area, a 48.1% decrease from the 27 condos or townhomes sold in December 2015. January 2016 ales figures increased 16.7% from January 2015 when 12 Lake Norman condos sold.

The average sales price decreased 22.8% from $252,882 in December 2015 to $195,104 in January 2016. The January 2016 average sales price decreased 17.3% from the January 2015 average sales price which was $235,798.

Average days on the market increased 77.8% from 63 in December to 112 in January. The January 2015 average days on the market were 111, a .9% increase in market time.

Currently there are 67 condo/townhomes for sale in the Lake Norman MLS area, a 16.25% decrease from the 80 condos for sale in January. The average list price is $262,7067, up 7.1% from January’s average list price of $245,305. The average days on the market are 108. 42 Lake Norman condos/townhomes are currently under contract, a 20% increase from January.

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Lake Norman Lots
In January 2016 7 lots sold in the Lake Norman area, a 50% decrease from the 14 lots sold in December. January 2016 sales figures decreased 73.1% from January 2015 when 26 Lake Norman lots sold.

The average sales price increased 10.6% from $118,543 in December to $131,065 in January. The January 2016 average sales price decreased 20.6% from the January 2015 average sales price which was $165,116.

Average days on the market increased 92.5% from 159 in December to 306 in January. The January 2015 average days on the market were 250, a 22.4% increase in market time versus the same time period last year.

Currently there are 647 active lot listings for sale in the Lake Norman MLS area, a decrease of 4.5% from January. The average list price is $246,876, down 5.3% from January’s average list price of $260,488. The average days on the market are 511. 63 Lake Norman area lots are currently under contract, a 3.3% increase from January.

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