Lake Norman Real Estate Market Update November 2015

Lake Norman Real Estate Market Update November 2015

Lake Norman Homes
In November 2015 107 homes sold in the Lake Norman area, a 10.8% decrease from the 120 homes sold in October. The November 2015 sales figures decreased 0% from November 2014 when 107 homes sold in the Lake Norman area.

The average sales price decreased 8.5% from $493,789 in October to $451,641 in November. The November 2015 average sales price increased .5% from the November 2014 average sales price which was $449,395.

Average days on the market decreased 20% from 90 days on the market in October to 72 days on the market in November. November 2014 average days on the market were 111, a 35.1% decrease in market time.

Currently there are 793 homes for sale in the Lake Norman MLS area, down 9.7% from November. The average list price is $751,531 up 2.1% from the November average list price of $736,105. The average days on the market are 213. 206 Lake Norman homes are currently under contract, down 21% from November.

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Lake Norman Condos & Townhomes
In November 2015 22 condos/townhomes sold in the Lake Norman area, a 26.7% decrease from the 30 condos or townhomes sold in October 2015. November 2015 sales figures decreased 12% from November 2014 when 25 Lake Norman condos sold.

The average sales price increased .3% from $206,683 in October 2015 to $207,404 in November 2015. The November 2015 average sales price decreased 10.3% from the November 2014 average sales price which was $231,192.

Average days on the market increased 5.5% from 55 in October to 58 in November. November 2014 average days on the market were 73, a 20.5% decrease in market time.

Currently there are 113 condo/townhomes for sale in the Lake Norman MLS area, a 5% decrease from the 119 condos for sale in November. The average list price is $230,996, down 3.4% from November’s average list price of $239,055. The average days on the market are 111. 34 Lake Norman condos/townhomes are currently under contract, a 9.7% increase from November.

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Lake Norman Lots
In November 2015 25 lots sold in the Lake Norman area, a 0% increase from the 25 lots sold in October. November 2015 sales figures increased 25% from November 2014 when 20 Lake Norman lots sold.

The average sales price decreased 29% from $216,742 in October to $153,783 in November. The November 2015 average sales price decreased 26.2% from the November 2014 average sales price which was $208,238.

Average days on the market decreased 5.1% from 178 in October to 169 in November. The November 2014 average days on the market were 153, a 10.5% increase in market time versus the same time period last year.

Currently there are 724 lots for sale in the Lake Norman MLS area, a decrease of 2.9% from November. The average list price is $247,781, up 3.6% from November’s average list price of $239,275. The average days on the market are 511. 44 Lake Norman area lots are currently under contract, a 24% decrease from November.

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