Lake Norman Waterfront Real Estate Update August 2019

Lake Norman Waterfront Real Estate Update August 2019

Lake Norman Waterfront Homes

In August 2019 50 waterfront homes sold in the Lake Norman area, a 19% increase from the 42 Lake Norman waterfront homes sold in July 2019. August 2019 Lake Norman waterfront home sales figures decreased 13.8% from August 2018 when 58 Lake Norman waterfront homes sold.

The average sales price decreased by 7% from $1,005,207 in July to $934,792 in August 2019. The August 2019 average sales price increased 3.2% from the August 2018 average sales price which was $905,482.

Average days on the market increased from 71 in July to 89 in August 2019, a 25.4% increase in market time. The August 2018 average days on the market were 120, a 25.8% decrease in market time from one year ago.

Currently, there are 245 active Lake Norman waterfront homes listed in the MLS, down 9.3% from August. There are 99 Lake Norman waterfront homes under contract, up 20.7% from August. The average list price of active listings is $1,343,830 up 2.5% from August’s average list price of $1,311,046. The lowest-priced active Lake Norman waterfront home is listed at $215,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 4.9 months of inventory, we are currently in a balanced market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In August 2019 18 waterfront condos or townhomes sold in the Lake Norman area, a 5.3% decrease from the 19 Lake Norman waterfront condos sold in July 2019. August 2019 sales figures increased 5.9% from August 2018 when 17 Lake Norman waterfront condos sold.

The average sales price increased by 13.2% from $288,489 in July to $326,667 in August 2019. The August 2019 average sales price increased 9.4% from the August 2018 average sales price which was $298,647.

Average days on the market decreased by 16.7% from 60 in July to 50 days on the market in August 2019. The August 2018 average days on the market were 41 a 22% increase in market time from one year ago.

Currently there are 34 active Lake Norman waterfront condos listed in the MLS, a 6.3% increase in active inventory from August. There are 15 Lake Norman waterfront condos under contract, down 28.6% from August. The average list price of active listings is $335,426, up .7% from last months average list price of $332,941. The lowest-priced active Lake Norman waterfront condo is listed at $189,000 and the highest priced active Lake Norman waterfront condo is listed at $675,000. Based on this data, 1.9 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In August 2019 6 waterfront lots sold in the Lake Norman area, a 14.3% decrease from the 7 Lake Norman waterfront lots sold in July 2019. August 2019 sales figures increased 50% from August 2018 when 4 Lake Norman waterfront lots sold.

The average sales price in August 2019 was $549,917, up 58.6% from the July 2019 average sales price which was $346,643 The August 2019 average sales price increased 94.6% from the August 2018 average sales price of $282,625

The average days on the market increased by 60.4% from 197 days in July to 316 days on the market in August 2019. Days on the market were up 163% from August 2018 when the average was 120 days on the market.

Currently, there are 203 active Lake Norman waterfront lots listed in the MLS, down 1.9% from August. There are 28 Lake Norman waterfront lots under contract, down 3.4% from August. The average list price is $533,504, up 4.7% from last month. The lowest-priced Lake Norman waterfront lot is listed at $60.000 and the highest priced Lake Norman waterfront lot is listed at $4,900,000. Based on this data, 7.7 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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