Lake Norman Real Estate Market Update November 2014

November 2014 Lake Norman Real Estate Market Update

Lake Norman Homes
In November 2014 117 homes sold in the Lake Norman area, a 32.4% decrease from the 173 homes sold in October. November 2014 sales figures increased 20.6% from November 2013 when 97 homes sold in the Lake Norman area. November 2014 sales were the highest for November since 2005 when 149 Lake Norman homes sold!

The average sales price decreased 9.4% from $485,189 in October to $439,579 in November. The November 2014 average sales price decreased 8.4% from the November 2013 average sales price which was $479,839.

Average days on the market increased 19.1% from 89 days in October to 106 days on the market in November. November 2013 average days on the market were 107, a 1.1% decrease in market time.

Currently there are 887 homes for sale in the Lake Norman MLS area, down 9.8% from October. The average list price is $679,196 up 1.6% from the October average list price of $668,326. The average days on the market are 203. 189 Lake Norman homes are currently under contract, down 20.5% from October.

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Lake Norman Condos & Townhomes
In November 2014 26 condos/townhomes sold in the Lake Norman area, a 13% increase from the 23 condos or townhomes sold in October 2014. November 2014 sales figures increased 18.2% from November 2013 when 22 Lake Norman condos sold. November 2014 sales were the highest for November since 2005 when 40 Lake Norman condos sold!

The average sales price increased 21% from $190,312 in October 2014 to $230,204 in November 2014. November 2014 average sales price increased 22.1% from the November 2013 average sales price which was $188,495.

Average days on the market increased 42.6% from 54 in October to 77 in November. November 2013 average days on the market were 157, a 51.3% decrease in market time.

Currently there are 105 condo/townhomes for sale in the Lake Norman MLS area,a 5.4% decrease from the 111 condos for sale in October. The average list price is $232,126 , up 1% from October’s average list price of $229,753. The average days on the market are 121. 15 Lake Norman condos/townhomes are currently under contract, a 28.6% decrease from October.

Lake Norman Lots
In November 2014 20 lots sold in the Lake Norman area, a 16.7% decrease from the 24 lots sold in October. November 2014 sales figures increased 11.1% from November 2013 when 18 Lake Norman lots sold.

The average sales price increased 26.2% from $134,425 in October to $169,706 in November. November 2014 average sales price increased 38% from the November 2013 average sales price which was $122,971.

Average days on the market decreased 45.5% from 233 in October to 127 in November. November 2013 average days on the market were 171, a 26% decrease in market time versus the same time period last year.

Currently there are 708 lots for sale in the Lake Norman MLS area, an decrease of 1.5% from October. The average list price is $250,160, up 3.9% from October’s average list price of $240,712. The average days on the market are 489. 45 Lake Norman area lots are currently under contract, a 2.2% decrease from October.