Lake Norman Real Estate Market Update

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.
Lake Norman Real Estate Market Update