Lake Norman Real Estate Update July 2018
Lake Norman Homes
In July 2018 210 homes sold in the Lake Norman area, a 19.8% decrease from the 262 homes sold in June 2018. The July 2018 sales figures increased 8.2% from July 2017 when 194 homes sold in the Lake Norman real estate market.
The average sales price decreased 5% from $540,254 in June to $513,774 in July,. The July 2018 average sales price decreased 2.4% from the July 2017 average sales price which was $526,423
Average days on the market increased 1.4% from 71 days on the market in June to 72 days on the market in July. The July 2017 average days on the market were 75, a 4% decrease in market time from last year.
Currently there are 812 active homes for sale in the Lake Norman MLS area, down 6.1% from July. The average list price is $789,802 up 4.9% from the June average list price of $752,855. The average days on the market are 148. 344 Lake Norman homes are currently under contract, down 12% from July. Based on this data we are currently in a sellers market, 3.9 months of inventory, in the Lake Norman real estate market.
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Lake Norman Condos & Townhomes
In July 2018 46 condos/townhomes sold in the Lake Norman area, a 24.3% increase from the 37 condos or townhomes sold in June 2018. July 2018 sales figures increased 9.5% from July 2017 when 42 Lake Norman condos sold.
The average sales price increased 23.4% from $216,871 in June to $267,557 in July. The July 2018 average sales price increased 11.4% from the July 2017 average sales price which was $240,202
Average days on the market increased 13.6% from 22 in June to 25 in July. The July 2017 average days on the market were 58, a 57% decrease in market time from one year ago.
Currently there are 72 active condo/townhome listings for sale in the Lake Norman MLS area, an 8.9% decrease from the 79 active condos for sale in July. The average list price is $382,749, up 1.6% from July’s average list price of $376,857. The average days on the market are 89. 67 Lake Norman condos/townhomes are currently under contract, a 5.6% decrease from July. Based on this months data we are currently in a sellers market, only 1.6 months of inventory, in the Lake Norman condo market.
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Lake Norman Land & Lots
In July 2018 26 lots sold in the Lake Norman area, a 5.6% decrease from the 28 lots sold in June 2018. July 2018 sales figures decreased 0% from July 2017 when 26 Lake Norman lots sold.
The average sales price increased 31.1% from $138,657 in June to $181,712 in July. The July 2018 average sales price decreased 32.8% from the July 2017 average sales price which was $270,542.
Average days on the market decreased 7% from 227 in June to 211 in July. The July 2017 average days on the market were 179, a 17.9% increase in market time versus the same time period last year.
Currently there are 570 active lot listings for sale in the Lake Norman MLS area, an increase of .7% from July. The average list price is $285,655, down 3.7% from July’s average list price of $296,712. The average days on the market are 494. 66 Lake Norman area lots are currently under contract, a 1.5% increase from July. Based on this data, 21.9 months of inventory, we are in a buyers market for Lake Norman lots & land.
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