Lake Norman Real Estate Market Update September 2016

Lake Norman Real Estate Market Update September 2016

Lake Norman Homes
In September 183 homes sold in the Lake Norman area, a 10.3% decrease from the 204 homes sold in August. The September 2016 sales figures increased 11.6% from September 2015 when 164 homes sold in the Lake Norman area.

The average sales price decreased 17.1% from $579,888 in August to $480,652 in September. The September 2016 average sales price decreased 6.1% from the September 2015 average sales price which was $511,717.

Average days on the market decreased 5% from 80 days on the market in August to 76 days on the market in September. The September 2015 average days on the market were 81, a 6.2% decrease in market time.

Currently there are 928 active homes for sale in the Lake Norman MLS area, down 8.6% from September. The average list price is $757,450 down 2% from the September average list price of $772,921. The average days on the market are 207. 312 Lake Norman homes are currently under contract, down 12.6% from September.

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

Lake Norman Condos & Townhomes
In September 36 condos/townhomes sold in the Lake Norman area, a 22.2% increase from the 28 condos or townhomes sold in August. September 2016 sales figures decreased 10% from September 2015 when 40 Lake Norman condos sold.

The average sales price increased 11.9% from $210,724 in August to $235,721 in September. The September 2016 average sales price increased 10.6% from the September 2015 average sales price which was $213,166.

Average days on the market increased 6.3% from 63 in August to 67 in September. The September 2015 average days on the market were 58, a 15.5% increase in market time.

Currently there are 50 active condo/townhome listings for sale in the Lake Norman MLS area, a 26.5% decrease from the 68 condos for sale in September. The average list price is $278,578, up 8% from September’s average list price of $257,965. The average days on the market are 88. 52 Lake Norman condos/townhomes are currently under contract, a 13% increase from September.

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

Lake Norman Lots
In September 20 lots sold in the Lake Norman area, a 16.7% decrease from the 24 lots sold in August. September 2016 sales figures decreased 13% from September 2015 when 23 Lake Norman lots sold.

The average sales price increased 29.2% from $159,826 in August to $206,454 in September. The September 2016 average sales price decreased 30.2% from the September 2015 average sales price which was $295,735.

Average days on the market increased 2.9% from 173 in August to 178 in September. The September 2015 average days on the market were 149, a 19.5% increase in market time versus the same time period last year.

Currently there are 665 active lot listings for sale in the Lake Norman MLS area, a decrease of 5.3% from September. The average list price is $248,879, down 8.5% from September’s average list price of $271,869. The average days on the market are 551. 67 Lake Norman area lots are currently under contract, a 2.9% decrease from September.

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.