Lake Norman Real Estate Market Update November 2018

Lake Norman Real Estate Market Update
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Lake Norman Real Estate Update November 2018

Lake Norman Homes

In November 2018 121 homes sold in the Lake Norman area,  a 28.8% decrease from the 170 homes sold in October 2018. The November 2018 sales figures decreased 19.9% from November 2017 when 151 homes sold in the Lake Norman real estate market.

The average sales price increased 17% from $514,549 in October to $602,271 in November,. The November 2018 average sales price increased 11.2% from the November 2017 average sales price which was $541,443

Average days on the market increased 21.5% from 65 days on the market in October to 79 days on the market in November. The November 2017 average days on the market were 82, an 3.7% decrease in market time from last year.

Currently there are 719 active homes for sale in the Lake Norman MLS area, down 9.6% from November. The average list price is $752,572 up .8% from the November average list price of $746,727. The average days on the market are 168.  There are 251 Lake Norman homes currently under contract, down 2.3% from November. Based on this data we are currently in a balanced market, 5.9 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 2018 27 condos/townhomes sold in the Lake Norman area, a 27% decrease from the 37 condos or townhomes sold in October 2018. November 2018 sales figures decreased 18.2% from November 2017 when 33 Lake Norman condos sold.

The average sales price decreased 5.1% from $269,050 in October to $255,327 in November. The November 2018 average sales price increased 14.5% from the November 2017 average sales price which was $223,001

Average days on the market increased 0% from 50 in October to 50 in November. The November 2017 average days on the market were 31, an 61.3% increase in market time from one year ago.

Currently there are 75 active condo/townhome listings for sale in the Lake Norman MLS area, a 7.1% increase from the 70 active condos for sale in November. The average list price is $350,646, down 4.7% from November’s average list price of $367,791. The average days on the market are 94. There are 51 Lake Norman condos/townhomes currently under contract, a 17.7% decrease from November. Based on this months data we are currently in a sellers market, only 2.8 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 Land & Lots

In November 2018 19 lots sold in the Lake Norman area, a 51.3% decrease from the 39 lots sold in October 2018. November 2018 sales figures decreased 17.4% from November 2017 when 23 Lake Norman lots sold.

The average sales price increased 28.1% from $163,549 in October to $209,479 in November. The November 2018 average sales price increased 34.7% from the November 2017 average sales price which was $155,465.

Average days on the market increased 65.7% from 134 in October to 222 in November. The November 2017 average days on the market were 213, a 4.2% increase in market time versus the same time period last year.

Currently there are 522 active lot listings for sale in the Lake Norman MLS area, a decrease of 4.4% from November. The average list price is $256,595, down 3.7% from November’s average list price of $266,453. The average days on the market are 503. There are 55 Lake Norman area lots currently under contract, a 5.2% decrease from November. Based on this data, 27.5 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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