Lake Norman Real Estate Market Update January 2017

Lake Norman Real Estate Market Update January 2017

Lake Norman Homes
In January 2017 104 homes sold in the Lake Norman area, a 23% decrease from the 135 homes sold in December 2016 but the highest January total since 2005! The January 2017 sales figures increased 28.4% from January 2016 when 81 homes sold in the Lake Norman area.

The average sales price increased 12.6% from $503,091 in December to $566,520 in January. The January 2017 average sales price increased 23.3% from the January 2016 average sales price which was $459,400.

Average days on the market decreased 24.5% from 94 days on the market in December to 71 days on the market in January. The January 2016 average days on the market were 91, a 22% decrease in market time.

Currently there are 824 active homes for sale in the Lake Norman MLS area, up 6.3% from January. The average list price is $705,308 up .1% from the January average list price of $704,663. The average days on the market are 223. 308 Lake Norman homes are currently under contract, up 32.8% from January. Based on this data we are currently in a balanced market, 7.9 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 January 2017 22 condos/townhomes sold in the Lake Norman area, a 12% decrease from the 25 condos or townhomes sold in December 2016. January 2017 sales figures increased 37.5% from January 2016 when 16 Lake Norman condos sold.

The average sales price increased 15.4% from $194,902 in December to $224,885 in January. The January 2017 average sales price increased 15.5% from the January 2016 average sales price which was $194,745.

Average days on the market increased 20.4% from 49 in December to 59 in January. The January 2016 average days on the market were 109, a 45.9% decrease in market time.

Currently there are 32 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% decrease from the 32 active condos for sale in January. The average list price is $271,872, down 5.2% from January’s average list price of $286,676. The average days on the market are 84. 39 Lake Norman condos/townhomes are currently under contract, a 77.3% increase from January. Based on this months data we are currently in a sellers market, only .7 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 January 2017 11 lots sold in the Lake Norman area, a 60.7% decrease from the 28 lots sold in December 2016. January 2017 sales figures increased 57.1% from January 2016 when 7 Lake Norman lots sold.

The average sales price decreased 75.1% from $364,832 in December to $90,955 in January. The January 2017 average sales price decreased 30.6% from the January 2016 average sales price which was $131,065.

Average days on the market increased 57.7% from 215 in December to 339 in January. The January 2016 average days on the market were 306, a 10.8% increase in market time versus the same time period last year.

Currently there are 582 active lot listings for sale in the Lake Norman MLS area, a decrease of 0% from January. The average list price is $262,589, up 7% from January’s average list price of $245,414. The average days on the market are 563. 65 Lake Norman area lots are currently under contract, a 12.1% increase from January. Based on this data, 53 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

The image below is provided by the local Realtor Association and uses a different map then we do.