Lake Norman Real Estate Market Update March 2017

Lake Norman Real Estate Market Update

Lake Norman Real Estate Market Update March 2017

Lake Norman Homes
In March 2017 184 homes sold in the Lake Norman area, a 187.5% increase from the 64 homes sold in February and the highest March total on record. The March 2017 sales figures increased 64.3% from March 2016 when 112 homes sold in the Lake Norman area.

The average sales price increased 11.5% from $452,538 in February to $504,410 in March. The March 2017 average sales price increased 8.8% from the March 2016 average sales price which was $463,498.

Average days on the market increased 4.4% from 90 days on the market in February to 94 days on the market in March. The March 2016 average days on the market were 86, a 9.3% increase in market time from last year.

Currently there are 908 active homes for sale in the Lake Norman MLS area, up 3.2% from March. The average list price is $764,373 up 2% from the March average list price of $749,159. The average days on the market are 163. 411 Lake Norman homes are currently under contract, up 10.5% from March. Based on this data we are currently in a sellers market, 2.7 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 March 2017 43 condos/townhomes sold in the Lake Norman area, a 95.5% increase from the 22 condos or townhomes sold in February 2017 and tied the highest monthly sales total on record. March 2017 sales figures increased 48.3% from March 2016 when 29 Lake Norman condos sold.

The average sales price decreased 7.8% from $267,967 in February to $246,985 in March. The March 2017 average sales price increased 12.9% from the March 2016 average sales price which was $218,796.

Average days on the market increased 32% from 50 in February to 66 in March. The March 2016 average days on the market were 73, a 9.6% decrease in market time.

Currently there are 38 active condo/townhome listings for sale in the Lake Norman MLS area, an 11.8% increase from the 34 active condos for sale in March. The average list price is $283,688, up 4.4% from March’s average list price of $271,633. The average days on the market are 63. 38 Lake Norman condos/townhomes are currently under contract, a 15.5% decrease from March. Based on this months data we are currently in a sellers market, only .9 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 March 2017 26 lots sold in the Lake Norman area, an 18.8% decrease from the 32 lots sold in February 2017. March 2017 sales figures decreased 18.8% from March 2016 when 32 Lake Norman lots sold.

The average sales price decreased 31.5% from $205,335 in February to $140,565 in March. The March 2017 average sales price decreased 3.3% from the March 2016 average sales price which was $145,375.

Average days on the market increased 5.8% from 172 in February to 182 in March. The March 2016 average days on the market were 182, a 0% increase in market time versus the same time period last year.

Currently there are 630 active lot listings for sale in the Lake Norman MLS area, an increase of 3.3% from March. The average list price is $279,770, up 2.8% from March’s average list price of $272,138. The average days on the market are 528. 72 Lake Norman area lots are currently under contract, a 14.3% increase from March. Based on this data, 24.2 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.
Click image for more legible picture.

Lake Norman real estate market stats

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