Lake Norman Real Estate Market Update October 2015

Lake Norman Real Estate Market Update October 2015

Lake Norman Homes
In October 2015 117 homes sold in the Lake Norman area, a 28% decrease from the 163 homes sold in September. The October 2015 sales figures decreased 33.5% from October 2014 when 176 homes sold in the Lake Norman area.

The average sales price decreased 3% from $513,998 in September to $498,495 in October. The October 2015 average sales price increased 2.2% from the October 2014 average sales price which was $487,818.

Average days on the market increased 12.3% from 81 days on the market in September to 91 days on the market in October. October 2014 average days on the market were 90, a 5.8% increase in market time.

Currently there are 878 homes for sale in the Lake Norman MLS area, down 5.2% from October. The average list price is $736,105 up 1% from the October average list price of $728,886. The average days on the market are 201. 260 Lake Norman homes are currently under contract, up 7.9% from October.

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Lake Norman Condos & Townhomes
In October 2015 30 condos/townhomes sold in the Lake Norman area, a 25% decrease from the 40 condos or townhomes sold in September 2015. October 2015 sales figures increased 36.4% from October 2014 when 22 Lake Norman condos sold.

The average sales price decreased 3% from $213,166 in September 2015 to $206,683 in October 2015. The October 2015 average sales price increased 5.5% from the October 2014 average sales price which was $195,963.

Average days on the market decreased 5.2% from 58 in September to 55 in October. October 2014 average days on the market were 57, a 3.5% decrease in market time.

Currently there are 124 condo/townhomes for sale in the Lake Norman MLS area, a .8% increase from the 123 condos for sale in October. The average list price is $239,055, down .2% from October’s average list price of $239,645. The average days on the market are 100. 31 Lake Norman condos/townhomes are currently under contract, a 22.5% decrease from October.

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Lake Norman Lots
In October 2015 25 lots sold in the Lake Norman area, a 13.6% increase from the 22 lots sold in September. October 2015 sales figures increased 19% from October 2014 when 21 Lake Norman lots sold.

The average sales price decreased 28.5% from $303,268 in September to $216,742 in October. The October 2015 average sales price increased 37.4% from the October 2014 average sales price which was $157,735.

Average days on the market increased 17.1% from 152 in September to 178 in October. The October 2014 average days on the market were 205, a 13.2% decrease in market time versus the same time period last year.

Currently there are 746 lots for sale in the Lake Norman MLS area, an increase of 2.9% from October. The average list price is $239,275, down 3.2% from October’s average list price of $247,096. The average days on the market are 489. 58 Lake Norman area lots are currently under contract, a 3.6% increase from October.

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