Lake Norman Real Estate Market Update April 2018

Lake Norman Real Estate Market Update
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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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