Lake Norman Real Estate Market Update July 2017

Lake Norman Real Estate Market Update July 2017

Lake Norman Homes
In July 2017 188 homes sold in the Lake Norman area, a 20% decrease from the 235 homes sold in June. The July 2017 sales figures increased 13.3% from July 2016 when 166 homes sold in the Lake Norman area.

The average sales price increased 9.6% from $485,070 in June to $531,695 in July. The July 2017 average sales price decreased 6.2% from the July 2016 average sales price which was $566,908.

Average days on the market increased 7.2% from 69 days on the market in June to 74 days on the market in July. The July 2016 average days on the market were 81, an 8.6% decrease in market time from last year.

Currently there are 962 active homes for sale in the Lake Norman MLS area, down 5.1% from July. The average list price is $736,254 down 2.9% from the July average list price of $758,524. The average days on the market are 164. 395 Lake Norman homes are currently under contract, up 3.7% from July. Based on this data we are currently in a sellers real estate market, 5.1 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 July 2017 42 condos/townhomes sold in the Lake Norman area, a 35.5% increase from the 31 condos or townhomes sold in June 2017. July 2017 sales figures decreased 31.3% from July 2016 when 32 Lake Norman condos sold.

The average sales price increased 3.8% from $231,302 in June to $240,202 in July. The July 2017 average sales price increased 6% from the July 2016 average sales price which was $226,502.

Average days on the market increased 28.9% from 45 in June to 58 in July. The July 2016 average days on the market were 41, a 41.5% increase in market time.

Currently there are 33 active condo/townhome listings for sale in the Lake Norman MLS area, a 21.4% decrease from the 42 active condos for sale in July. The average list price is $268,185, down 1.6% from July’s average list price of $272,612. The average days on the market are 62. 54 Lake Norman condos/townhomes are currently under contract, a 10.2% increase from July. Based on this months data we are currently in a sellers 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 Lots
In July 2017 26 lots sold in the Lake Norman area, an 18.8% decrease from the 32 lots sold in June 2017. July 2017 sales figures increased 18.2% from July 2016 when 22 Lake Norman lots sold.

The average sales price increased 19.3% from $226,709 in June to $270,542 in July. The July 2017 average sales price increased 7.7% from the July 2016 average sales price which was $251,211.

Average days on the market increased 36.6% from 131 in June to 179 in July. The July 2016 average days on the market were 146, a 22.6% increase in market time versus the same time period last year.

Currently there are 602 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.1% from July. The average list price is $270,726, down .8% from July’s average list price of $272,987. The average days on the market are 528. 89 Lake Norman area lots are currently under contract, a 2.2% decrease from July. Based on this data, 23.2 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 so the stats will differ.
Click image for more legible picture.