Lake Norman Real Estate Market Update June 2017

Lake Norman Real Estate Market Update June 2017

Lake Norman Homes
In June 2017 233 homes sold in the Lake Norman area, a 13.1% increase from the 206 homes sold in May and the highest monthly total on record. The June 2017 sales figures increased 6.9% from June 2016 when 218 homes sold in the Lake Norman area.

The average sales price decreased 4.5% from $507,837 in May to $484,940 in June. The June 2017 average sales price decreased 12.4% from the June 2016 average sales price which was $553,323.

Average days on the market decreased 11.4% from 79 days on the market in May to 70 days on the market in June. The June 2016 average days on the market were 72, a 2.8% decrease in market time from last year.

Currently there are 1014 active homes for sale in the Lake Norman MLS area, up 2.3% from June. The average list price is $758,524 down 2.4% from the June average list price of $758,524. The average days on the market are 154. 381 Lake Norman homes are currently under contract, down 2.6% from June. Based on this data we are currently in a sellers real estate market, 4.4 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 June 2017 31 condos/townhomes sold in the Lake Norman area, a 13.9% decrease from the 36 condos or townhomes sold in May 2017. June 2017 sales figures decreased 11.% from June 2016 when 35 Lake Norman condos sold.

The average sales price increased 1.4% from $228,130 in May to $231,302 in June. The June 2017 average sales price increased 10.1% from the June 2016 average sales price which was $210,120.

Average days on the market decreased 16.7% from 54 in May to 45 in June. The June 2016 average days on the market were 64, a 29.7% decrease in market time.

Currently there are 42 active condo/townhome listings for sale in the Lake Norman MLS area, a 13.5% increase from the 37 active condos for sale in June. The average list price is $272,612, up 3.9% from June’s average list price of $262,473. The average days on the market are 51. 49 Lake Norman condos/townhomes are currently under contract, a 3.9% decrease from June. Based on this months data we are currently in a sellers market, only 1.4 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 June 2017 32 lots sold in the Lake Norman area, a 52.4% increase from the 21 lots sold in May 2017. June 2017 sales figures decreased 17.9% from June 2016 when 39 Lake Norman lots sold.

The average sales price increased 17.8% from $192,448 in May to $226,709 in June. The June 2017 average sales price decreased 24.9% from the June 2016 average sales price which was $301,851.

Average days on the market decreased 43.3% from 231 in May to 131 in June. The June 2016 average days on the market were 231, a 43.3% increase in market time versus the same time period last year.

Currently there are 621 active lot listings for sale in the Lake Norman MLS area, a decrease of 4.3% from June. The average list price is $272,987, up 4.7% from June’s average list price of $260,720. The average days on the market are 554. 91 Lake Norman area lots are currently under contract, a 16.7% increase from June. Based on this data, 19.4 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.