Lake Norman Real Estate Market Update June 2019

Jul 24, 2019

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Lake Norman Real Estate Update June 2019

Lake Norman Homes

In June 2019 230 homes sold in the Lake Norman area, a 5.3% decrease from the 243 homes sold in May 2019. The June 2019 sales figures decreased 12.9% from June 2018 when 264 homes sold in the Lake Norman real estate market.

The average sales price increased by 15.8% from $522,388 in May to $604,809 in June 2019. The June 2019 average sales price increased 12% from the June 2018 average sales price which was $540,025.

Average days on the market decreased by 1.4% from 72 days on the market in May to 71 days on the market in June 2019. The June 2018 average days on the market were 71, a 0% increase in market time from last year.

Currently, there are 805 active homes for sale in the Lake Norman MLS area, up 3.9% from June. The average list price is $782,200 down 2.4% from the June average list price of $801,362. The average days on the market are 141. There are 339 Lake Norman homes currently under contract, down 11.3% from June. Based on this data we are currently in a seller’s market, 3.5 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 2019 37 condos/townhomes sold in the Lake Norman area, a 42.3% increase from the 26 condos or townhomes sold in May 2019. June 2019 sales figures decreased 0% from June 2018 when 37 Lake Norman condos sold.

The average sales price increased by 3.1% from $252,906 in May to $260,819 in June 2019. The June 2019 average sales price increased 20.3% from the June 2018 average sales price which was $216,871.

Average days on the market increased by 40% from 40 in May to 56 in June 2019. The June 2018 average days on the market were 22, a 155% increase in market time from one year ago.

Currently, there are 83 active condo/townhome listings for sale in the Lake Norman MLS area, an 11.7% decrease from the 94 active condos for sale in June. The average list price is $387,944, down 1.1% from June’s average list price of $392,279. The average days on the market are 89. There are 61 Lake Norman condos/townhomes currently under contract, a 7% increase from June. Based on this months data we are currently in seller’s market, only 2.2 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 June 2019 16 lots sold in the Lake Norman area, a 38.5% decrease from the 26 lots sold in May 2019. June 2019 sales figures decreased 42.9% from June 2018 when 28 Lake Norman lots sold.

The average sales price increased by 40.6% from $161,040 in May to $226,462 in June 2019. The June 2019 average sales price increased 63.3% from the June 2018 average sales price which was $138,657.

Average days on the market increased by 19.5% from 205 in May to 245 in June 2019. The June 2018 average days on the market were 227, a 7.9% increase in market time versus the same time period last year.

Currently, there are 544 active lot listings for sale in the Lake Norman MLS area, a decrease of 2.2% from June. The average list price is $321,610, up 5.7% from June’s average list price of $304,208. The average days on the market are 443. There are 71 Lake Norman area lots currently under contract, a 6% increase from June. Based on this data, 34 months of inventory, we are in a buyers market for Lake Norman lots & land.