Lake Norman Real Estate Update September 2018
Lake Norman Homes
In September 2018 144 homes sold in the Lake Norman area, a 42.6% decrease from the 251 homes sold in August 2018. The September 2018 sales figures decreased 29.4% from September 2017 when 204 homes sold in the Lake Norman real estate market.
The average sales price increased 9.1% from $532,102 in August to $580,627 in September,. The September 2018 average sales price increased 7.5% from the September 2017 average sales price which was $540,370
Average days on the market decreased 11.3% from 80 days on the market in August to 71 days on the market in September. The September 2017 average days on the market were 79, a 10.1% decrease in market time from last year.
Currently there are 832 active homes for sale in the Lake Norman MLS area, up 1.3% from September. The average list price is $740,384 down 2.7% from the September average list price of $761,033. The average days on the market are 146. There are 263 Lake Norman homes currently under contract, down 15.7% from September. Based on this data we are currently in a sellers market, 5.8 months of inventory, in the Lake Norman real estate market.
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Lake Norman Condos & Townhomes
In September 2018 30 condos/townhomes sold in the Lake Norman area, a 36.2 decrease from the 47 condos or townhomes sold in August 2018. September 2018 sales figures decreased 14.3% from September 2017 when 35 Lake Norman condos sold.
The average sales price increased 5.3% from $249,700 in August to $262,965 in September. The September 2018 average sales price increased 5.4% from the September 2017 average sales price which was $249,455
Average days on the market decreased 15.6% from 45 in August to 38 in September. The September 2017 average days on the market were 40, an 5% 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 1.5% decrease from the 67 active condos for sale in September. The average list price is $392,781, up 1.6% from September’s average list price of $386,761. The average days on the market are 95. There are 59 Lake Norman condos/townhomes currently under contract, a 6.3% decrease from September. Based on this months data we are currently in a sellers market, only 2.2 months of inventory, in the Lake Norman condo market.
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Lake Norman Land & Lots
In September 2018 19 lots sold in the Lake Norman area, a 5% decrease from the 20 lots sold in August 2018. September 2018 sales figures decreased 55% from September 2017 when 42 Lake Norman lots sold.
The average sales price increased 13.1% from $156,593 in August to $177,116 in September. The September 2018 average sales price decreased 20.8% from the September 2017 average sales price which was $223,507.
Average days on the market increased 22% from 114 in August to 139 in September. The September 2017 average days on the market were 185, a 24.9% decrease in market time versus the same time period last year.
Currently there are 539 active lot listings for sale in the Lake Norman MLS area, a decrease of .9% from September. The average list price is $270,398, down 3.5% from September ’s average list price of $280,187. The average days on the market are 514. There are 76 Lake Norman area lots currently under contract, a 1.3% decrease from September. Based on this data, 28.4 months of inventory, we are in a buyers market for Lake Norman lots & land.
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