Lake Norman Real Estate Market Update April 2018

Lake Norman Real Estate Market Update

Lake Norman Real Estate Update April 2018

Lake Norman Homes

In April 2018 171 homes sold in the Lake Norman area,  a 23% increase from the 139 homes sold in March 2018. The April 2018 sales figures increased 6.9% from April 2017 when 160 homes sold in the Lake Norman real estate market.

The average sales price increased  23.3% from $481,307 in March to $593,420 in April, the highest average sales price on record. The April 2018 average sales price increased 23.1% from the April 2017 average sales price which was $482,081

Average days on the market decreased 18.3% from 93 days on the market in March to 76 days on the market in April. The April 2017 average days on the market were 84, a 9.5% decrease in market time from last year.

Currently there are 854 active homes for sale in the Lake Norman MLS area, up 4.1% from April. The average list price is $767,948 up 3.7% from the April average list price of $740,527. The average days on the market are 154. 440 Lake Norman homes are currently under contract, up 13.7% from April. Based on this data we are currently in a balanced market, 5 months of inventory, in the Lake Norman real estate market. On a micro level many neighborhoods in the Lake Norman area still have low inventory and are still in a sellers market

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

Lake Norman Condos & Townhomes

In April 2018 21 condos/townhomes sold in the Lake Norman area, a 44.7% decrease from the 38 condos or townhomes sold in March 2018. April 2018 sales figures decreased 34.4% from April 2017 when 32 Lake Norman condos sold.

The average sales price increased 16.4% from $242,690 in March to $282,545 in April. The April 2018 average sales price increased 14.3% from the April 2017 average sales price which was $247,286.

Average days on the market decreased 16.2% from 37 in March to 31 in April. The April 2017 average days on the market were 43, a 28% decrease in market time from one year ago.

Currently there are 66 active condo/townhome listings for sale in the Lake Norman MLS area, a 65% increase from the 40 active condos for sale in April. The average list price is $367,778, up 18.3% from April’s average list price of $310,806. The average days on the market are 56. 61 Lake Norman condos/townhomes are currently under contract, a 1.7% increase from April. Based on this months data we are currently in a sellers market, only 3.1 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 Land & Lots

In April 2018 36 lots sold in the Lake Norman area, a 24.1% increase from the 29 lots sold in March 2018. April 2018 sales figures increased 38.5% from April 2017 when 26 Lake Norman lots sold.

 

The average sales price increased 6.8% from $116,210 in March to $124,138 in April. The April 2018 average sales price decreased 33.6% from the April 2017 average sales price which was $186,958.

Average days on the market increased 30.1% from 229 in March to 298 in April. The April 2017 average days on the market were 290, a 2.8% increase in market time versus the same time period last year.

Currently there are 582 active lot listings for sale in the Lake Norman MLS area, an increase of 3% from April. The average list price is $298,674, up 7.6% from April’s average list price of $277,640. The average days on the market are 483. 70 Lake Norman area lots are currently under contract, a 25% increase from April. Based on this data, 16.2 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

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