Lake Norman Real Estate Market Update November 2018

Lake Norman Real Estate Market Update

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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