Lake Norman Real Estate Market Update July 2016

Lake Norman Real Estate Market Update July 2016

Lake Norman Homes
In July 164 homes sold in the Lake Norman area, a 25% decrease from the 218 homes sold in June. The July 2016 sales figures decreased 12.8% from July 2015 when 188 homes sold in the Lake Norman area.

The average sales price increased 2.7% from $553,323 in June to $568,066 in July. The July 2016 average sales price increased 9.4% from the July 2015 average sales price which was $519,486.

Average days on the market increased 9.7% from 72 days on the market in June to 79 days on the market in July. The July 2015 average days on the market were 87, a 9.2% decrease in market time.

Currently there are 1015 active homes for sale in the Lake Norman MLS area, down 5.3% from July. The average list price is $772,921 up 1% from the July average list price of $764,822. The average days on the market are 196. 357 Lake Norman homes are currently under contract, up 3.5% from July.

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Lake Norman Condos & Townhomes
In July 32 condos/townhomes sold in the Lake Norman area, an 8.6% decrease from the 35 condos or townhomes sold in June. June 2016 sales figures increased 25.6% from July 2015 when 43 Lake Norman condos sold.

The average sales price increased 7.8% from $210,120 in June to $226,502 in July. The July 2016 average sales price increased 13% from the July 2015 average sales price which was $200,485.

Average days on the market decreased 36% from 64 in June to 41 in July. The July 2015 average days on the market were 59, a 30.5% decrease in market time.

Currently there are 68 active condo/townhome listings for sale in the Lake Norman MLS area, a 5.6% decrease from the 72 condos for sale in July. The average list price is $257,965, down 1.3% from July’s average list price of $261,326. The average days on the market are 107. 46 Lake Norman condos/townhomes are currently under contract, a 12.2% increase from July.

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Lake Norman Lots
In July 21 lots sold in the Lake Norman area, a 46% decrease from the 39 lots sold in June. July 2016 sales figures decreased 34.4% from July 2015 when 32 Lake Norman lots sold.

The average sales price decreased 13.7% from $301,851 in June to $260,602 in July. The July 2016 average sales price increased 110.5% from the July 2015 average sales price which was $123,781.

Average days on the market decreased 35.1% from 231 in June to 150 in July. The July 2015 average days on the market were 179, a 16.2% decrease in market time versus the same time period last year.

Currently there are 702 active lot listings for sale in the Lake Norman MLS area, a decrease of 2% from July. The average list price is $271,869, down .9% from July’s average list price of $274,239. The average days on the market are 529. 69 Lake Norman area lots are currently under contract, a 21% increase from July.

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