Lake Norman Real Estate Market Update September 2017

Lake Norman Real Estate Market Update September 2017

Lake Norman Homes
In September 2017 200 homes sold in the Lake Norman area, the highest September total on record but a 4.8% decrease from the 210 homes sold in August. The September 2017 sales figures increased 7.5% from September 2016 when 186 homes sold in the Lake Norman real estate market.

The average sales price increased 3% from $523,532 in August to $539,050 in September. The September 2017 average sales price increased 12.6% from the September 2016 average sales price which was $478,766.

Average days on the market increased 1.3% from 78 days on the market in August to 79 days on the market in September. The September 2016 average days on the market were 75, a 5.3% increase in market time from last year.

Currently there are 894 active homes for sale in the Lake Norman MLS area, down 4.3% from September. The average list price is $740,436 up .8% from the September average list price of $734,530. The average days on the market are 170. 320 Lake Norman homes are currently under contract, down 12% from September. Based on this data we are currently in a sellers real estate market, 4.5 months of inventory, in the Lake Norman real estate market.

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

Lake Norman Condos & Townhomes
In September 2017 34 condos/townhomes sold in the Lake Norman area, a 9.7% increase from the 31 condos or townhomes sold in August 2017. September 2017 sales figures decreased 5.6% from September 2016 when 36 Lake Norman condos sold.

The average sales price increased 13% from $220,106 in August to $248,802 in September. The September 2017 average sales price increased 5.5% from the September 2016 average sales price which was $235,721.

Average days on the market increased 5.1% from 39 in August to 41 in September. The September 2016 average days on the market were 67, a 38.8% decrease in market time.

Currently there are 38 active condo/townhome listings for sale in the Lake Norman MLS area, a 0% increase from the 38 active condos for sale in September. The average list price is $252,080, down 5.8% from September’s average list price of $267,710. The average days on the market are 74. 49 Lake Norman condos/townhomes are currently under contract, a 26% increase from September. Based on this months data we are currently in a sellers market, only 1.1 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 Lots
In September 2017 40 lots sold in the Lake Norman area, a 17.6% increase from the 34 lots sold in August 2017. September 2017 sales figures increased 90.5% from September 2016 when 21 Lake Norman lots sold.

The average sales price increased 46.6% from $153,392 in August to $224,879 in September. The September 2017 average sales price decreased 11.8% from the September 2016 average sales price which was $254,956.

Average days on the market decreased 4.6% from 173 in August to 165 in September. The September 2016 average days on the market were 174, a 5.2% decrease in market time versus the same time period last year.

Currently there are 619 active lot listings for sale in the Lake Norman MLS area, a decrease of .5% from September. The average list price is $262,660, down 2.8% from September’s average list price of $270,181. The average days on the market are 527. 57 Lake Norman area lots are currently under contract, a 0% decrease from September. Based on this data, 15.5 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

The image below is provided by the local Realtor Association and uses a different map then we do so the stats will differ. Click image for more legible picture.