Lake Norman Real Estate Market Update November 2017

Lake Norman Real Estate Market Update November 2017

Lake Norman Homes
In November 2017 147 homes sold in the Lake Norman area,  a 15% decrease from the 173 homes sold in October. The November 2017 sales figures increased 10.5% from November 2016 when 133 homes sold in the Lake Norman real estate market.

The average sales price decreased 1.7% from $548,640 in October to $539,298 in November. The November 2017 average sales price increased 11.2% from the November 2016 average sales price which was $484,804.

Average days on the market increased 0% from 80 days on the market in October to 80 days on the market in November. The November 2016 average days on the market were 82, a 2.4% decrease in market time from last year.

Currently there are 763 active homes for sale in the Lake Norman MLS area, down 8.6% from November. The average list price is $734,748 down 1% from the November average list price of $742,294. The average days on the market are 191. 245 Lake Norman homes are currently under contract, down 15.2% from November. Based on this data we are currently in a balanced real estate market, 5.2 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes
In November 2017 33 condos/townhomes sold in the Lake Norman area, a 27% increase from the 26 condos or townhomes sold in October 2017. November 2017 sales figures decreased 17.5% from November 2016 when 40 Lake Norman condos sold.

The average sales price decreased 1% from $225,436 in October to $223,304 in November. The November 2017 average sales price decreased 6.6% from the November 2016 average sales price which was $239,094.

Average days on the market increased 3.3% from 30 in October to 31 in November. The November 2016 average days on the market were 36, a 13.9% decrease in market time.

Currently there are 30 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.3% decrease from the 32 active condos for sale in November. The average list price is $322,710, up 6.2% from November’s average list price of $303,850. The average days on the market are 90. 39 Lake Norman condos/townhomes are currently under contract, a 13.3% decrease from November. 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 November 2017 21 lots sold in the Lake Norman area, a 27.6% decrease from the 29 lots sold in October 2017. November 2017 sales figures decreased 38.2% from November 2016 when 34 Lake Norman lots sold.

The average sales price increased 4.7% from $158,893 in October to $166,376 in November. The November 2017 average sales price decreased 61.9% from the November 2016 average sales price which was $436,479.

Average days on the market increased 53.5% from 129 in October to 198 in November. The November 2016 average days on the market were 180, a 10% increase in market time versus the same time period last year.

Currently there are 601 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.4% from November. The average list price is $279,925, up 2.8% from November’s average list price of $272,440. The average days on the market are 537. 59 Lake Norman area lots are currently under contract, a 12% decrease from November. Based on this data, 28.6 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