Lake Norman Real Estate Market Update November 2017

Lake Norman Real Estate Market Update
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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.

Stay up to date on the Lake Norman real estate market with our FREE market updates:LakeNormanHomePrices.com

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


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