Lake Norman Real Estate Market Update March 2016

Lake Norman Real Estate Market Update March 2016

Lake Norman Homes
In March 110 homes sold in the Lake Norman area, an 8.9% increase from the 101 homes sold in Febraury. The March 2016 sales figures decreased 20.9% from March 2015 when 139 homes sold in the Lake Norman area.

The average sales price decreased 8% from $509,783 in February to $469,255 in March. The March 2016 average sales price increased 14.7% from the March 2015 average sales price which was $409,009.

Average days on the market decreased 13% from 100 days on the market in February to 87 days on the market in March. The March 2015 average days on the market were 91, a 4.4% decrease in market time.

Currently there are 931 active homes for sale in the Lake Norman MLS area, up 12.7% from March. The average list price is $786,294 up .9% from the March average list price of $779,078. The average days on the market are 183. 344 Lake Norman homes are currently under contract, up 14.3% from March.

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Lake Norman Condos & Townhomes
In March 29 condos/townhomes sold in the Lake Norman area, a 3.3% decrease from the 30 condos or townhomes sold in February. March 2016 sales figures increased 16% from March 2015 when 25 Lake Norman condos sold.

The average sales price increased 4.6% from $209,231 in February to $218,796 in March. The March 2016 average sales price increased 12.1% from the March 2015 average sales price which was $195,193.

Average days on the market decreased 1.4% from 74 in February to 73 in March. The March 2015 average days on the market were 77, a 5.2% decrease in market time.

Currently there are 77 active condo/townhome listings for sale in the Lake Norman MLS area, a 6.1% decrease from the 82 condos for sale in March. The average list price is $276,127, up 5.2% from March’s average list price of $262,574. The average days on the market are 109. 53 Lake Norman condos/townhomes are currently under contract, a 23.3% increase from March.

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Lake Norman Lots
In March 31 lots sold in the Lake Norman area, a 41% increase from the 22 lots sold in February. March 2016 sales figures increased 41% from March 2015 when 22 Lake Norman lots sold.

The average sales price increased 7.8% from $137,663 in February to $148,371 in March. The March 2016 average sales price decreased 33.3% from the March 2015 average sales price which was $222,300.

Average days on the market decreased 1.2% from 172 in February to 170 in March. The March 2015 average days on the market were 231, a 26.4% decrease in market time versus the same time period last year.

Currently there are 690 active lot listings for sale in the Lake Norman MLS area, an increase of 2.7% from March. The average list price is $242,774, down 2.6% from March’s average list price of $249,235. The average days on the market are 505. 79 Lake Norman area lots are currently under contract, a 1.3% increase from March.

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