Lake Norman Real Estate Market Update

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.

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

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.

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