Lake Norman Real Estate Market Update October 2017

Lake Norman Real Estate Market Update October 2017

Lake Norman Homes
In October 2017 173 homes sold in the Lake Norman area,  a 13.9% decrease from the 201 homes sold in September. The October 2017 sales figures increased24.5% from October 2016 when 139 homes sold in the Lake Norman real estate market.

The average sales price increased 2% from $538,383 in September to $548,640 in October. The October 2017 average sales price increased 13.6% from the October 2016 average sales price which was $482,774.

Average days on the market increased 1.3% from 79 days on the market in September to 80 days on the market in October. The October 2016 average days on the market were 76, a 5.3% increase in market time from last year.

Currently there are 835 active homes for sale in the Lake Norman MLS area, down 6.6% from October. The average list price is $742,294 up .3% from the October average list price of $740,436. The average days on the market are 174. 289 Lake Norman homes are currently under contract, down 9.7% from October. Based on this data we are currently in a sellers real estate market, 4.8 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 October 2017 26 condos/townhomes sold in the Lake Norman area, a 23.5% decrease from the 34 condos or townhomes sold in September 2017. October 2017 sales figures decreased 16.1% from October 2016 when 31 Lake Norman condos sold.

The average sales price decreased 9.4% from $248,802 in September to $225,436 in October. The October 2017 average sales price increased 4.4% from the October 2016 average sales price which was $215,834.

Average days on the market decreased 26.8% from 41 in September to 30 in October. The October 2016 average days on the market were 63, a 352.4% decrease in market time.

Currently there are 32 active condo/townhome listings for sale in the Lake Norman MLS area, a 15.8% decrease from the 38 active condos for sale in October. The average list price is $303,850, up 20.5% from October’s average list price of $252,080. The average days on the market are 87. 450 Lake Norman condos/townhomes are currently under contract, a 2% increase from October. Based on this months data we are currently in a sellers market, only 1.2 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 October 2017 29 lots sold in the Lake Norman area, a 27.5% decrease from the 40 lots sold in September 2017. October 2017 sales figures increased 45% from October 2016 when 20 Lake Norman lots sold.

The average sales price decreased 29.3% from $224,879 in September to $158,893 in October. The October 2017 average sales price increased 13% from the October 2016 average sales price which was $140,630.

Average days on the market decreased 21.8% from 165 in September to 129 in October. The October 2016 average days on the market were 213, a 39.4% decrease in market time versus the same time period last year.

Currently there are 625 active lot listings for sale in the Lake Norman MLS area, an increase of 1% from October. The average list price is $272,440, up 3.7% from October’s average list price of $262,660. The average days on the market are 520. 67 Lake Norman area lots are currently under contract, a 17.5% increase from October. Based on this data, 21.5 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