Lake Norman Real Estate Market Update July 2019

Lake Norman Real Estate Update

Lake Norman Real Estate Update July 2019

Lake Norman Homes

In July 2019 198 homes sold in the Lake Norman area,  a 14% decrease from the 230 homes sold in June 2019. The July 2019 sales figures decreased 8.8% from July 2018  when 217 homes sold in the Lake Norman real estate market.

The average sales price decreased by 11.6% from $604,809 in June to $534,567 in July 2019. The July 2019 average sales price increased 4.9% from the July 2018 average sales price which was $509,503.

Average days on the market decreased by 5.6% from 71 days on the market in June to 67 days on the market in July 2019. The July 2018 average days on the market were 71, a 5.6% decrease in market time from last year.

Currently, there are 765 active homes for sale in the Lake Norman MLS area, down 5% from July. The average list price is $779,377 down .4% from the July average list price of $782,200. The average days on the market are 144.  There are 352 Lake Norman homes currently under contract, up 3.8% from July. Based on this data we are currently in a seller’s market, 3.9 months of inventory, in the Lake Norman single-family 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 2019 42 condos/townhomes sold in the Lake Norman area, a 13.5% increase from the 37 condos or townhomes sold in June 2019. July 2019 sales figures decreased 8.7% from July 2018 when 46 Lake Norman condos sold.

The average sales price increased by 2.8% from $260,819 in June to $268,126 in July 2019. The July 2019 average sales price increased .2% from the July 2018 average sales price which was $267,557.

Average days on the market decreased by 16.1% from 56 in June to 47 in July 2019. The July 2018 average days on the market were 25, an  88% increase in market time from one year ago.

Currently, there are 74 active condo/townhome listings for sale in the Lake Norman MLS area, a 10.8% decrease from the 83 active condos for sale in July. The average list price is $379,806, down 2.1% from July’s average list price of $387,944. The average days on the market are 96. There are 57 Lake Norman condos/townhomes currently under contract, a 6.6% decrease from July. Based on this months data we are currently in seller’s market, only 1.8 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 Land & Lots

In July 2019 23 lots sold in the Lake Norman area, a 43.8% decrease from the 16 lots sold in June 2019. July 2019 sales figures decreased 14.8% from July 2018 when 27 Lake Norman lots sold.

The average sales price decreased by 36% from $226,462 in June to $144,830 in July 2019. The July 2019 average sales price decreased 17.8% from the July 2018 average sales price which was $176,148.

Average days on the market decreased by 56.3% from 245 in June to 107 in July 2019. The July 2018 average days on the market were 215, a 50.2% decrease in market time versus the same time period last year.

Currently, there are 531 active lot listings for sale in the Lake Norman MLS area, a decrease of 2.4% from July. The average list price is $303,294, down 5.7% from July’s average list price of $321,610. The average days on the market are 454. There are 70 Lake Norman area lots currently under contract, a 1.4% decrease from July. Based on this data, 23.1 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

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