Lake Norman Real Estate Market Update

Lake Norman Real Estate Market Update October 2016

Lake Norman Real Estate Market Update October 2016

Lake Norman Homes
In October 135 homes sold in the Lake Norman area, a 27.4% decrease from the 186 homes sold in September. The October 2016 sales figures increased 12.5% from October 2015 when 120 homes sold in the Lake Norman area.

The average sales price increased 2.3% from $478,766 in September to $489,792 in October. The October 2016 average sales price decreased .8% from the October 2015 average sales price which was $493,789.

Average days on the market increased 1.3% from 75 days on the market in September to 76 days on the market in October. The October 2015 average days on the market were 90, a 15.6% decrease in market time.

Currently there are 864 active homes for sale in the Lake Norman MLS area, down 6.9% from October. The average list price is $744,596 down 1.7% from the October average list price of $757,450. The average days on the market are 217. 305 Lake Norman homes are currently under contract, down 2.2% from October.

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

Lake Norman Condos & Townhomes
In October 31 condos/townhomes sold in the Lake Norman area, a 13.9% decrease from the 36 condos or townhomes sold in September. October 2016 sales figures decreased 0% from October 2015 when 31 Lake Norman condos sold.

The average sales price decreased 8.4% from $235,721 in September to $215,834 in October. The October 2016 average sales price increased 5.5% from the October 2015 average sales price which was $204,532.

Average days on the market decreased 6% from 67 in September to 63 in October. The October 2015 average days on the market were 55, a 14.5% increase in market time.

Currently there are 47 active condo/townhome listings for sale in the Lake Norman MLS area, a 6% decrease from the 50 condos for sale in October. The average list price is $286,849, up 3% from October’s average list price of $278,578. The average days on the market are 98. 36 Lake Norman condos/townhomes are currently under contract, a 31% decrease from October.

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

Lake Norman Lots
In October 20 lots sold in the Lake Norman area, a 4.8% decrease from the 21 lots sold in September. October 2016 sales figures decreased 20% from October 2015 when 25 Lake Norman lots sold.

The average sales price decreased 44.8% from $254,956 in September to $140,650 in October. The October 2016 average sales price decreased 35.1% from the October 2015 average sales price which was $216,742.

Average days on the market increased 22.4% from 174 in September to 213 in October. The October 2015 average days on the market were 178, a 19.7% increase in market time versus the same time period last year.

Currently there are 640 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.8% from October. The average list price is $245,138, down 1.5% from October’s average list price of $248,879. The average days on the market are 576. 65 Lake Norman area lots are currently under contract, a 3% decrease from October.

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

The image below is provided by the local Realtor Association and uses a different map then we do.
Lake Norman real estate market stats