Lake Norman Waterfront Real Estate Market Update August 2016

Lake Norman Waterfront Real Estate Market Update August 2016

Lake Norman Waterfront Homes
In August 2016 62 waterfront homes sold in the Lake Norman area, a 17% increase from the 53 Lake Norman waterfront homes sold in July. August 2016 Lake Norman waterfront home sales figures increased 93.8% from August 2015 when 32 Lake Norman waterfront homes sold.

The average sales price increased 9.2% from $916,834 in July to $1,001,101 in August. The August 2016 average sales price increased 25.8% from the August 2015 average sales price which was $795,733.

Average days on the market decreased from 108 in July to 101 in August, a 6.5% decrease in market time. The August 2015 average days on the market were 135, a 25.2% decrease in market time.

Currently there are 423 active Lake Norman waterfront homes listed in the MLS with 90 also under contract, down 15.1% from August. The average list price is $1,126,575, up 1.7% from August. The lowest priced active Lake Norman waterfront home is listed at $205,000 and the highest priced Lake Norman waterfront homeis listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes
In August 7 waterfront condos or townhomes sold in the Lake Norman area, a 50% decrease from the 14 Lake Norman waterfront condos sold in July. August 2016 sales figures decreased 0% from August 2015 when 7 Lake Norman waterfront condos sold.

The average sales price increased 5.3% from $250,893 in July to $264,214 in August. The August 2016 average sales price increased 3.8% from the August 2015 average sales price which was $254,643.

Average days on the market increased 91% from 53 in July to 101 days on the market in August. The August 2015 average days on the market were 75, a 34.7% increase in market time.

Currently there are 31 active Lake Norman waterfront condos listed in the MLS with 17 also under contract, a 42% increase from August. The average list price is $304,471, up 3% from last month. The lowest priced active Lake Norman waterfront condo is listed at $147,999 and the highest priced active Lake Norman waterfront condo is listed at $725,000.

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Lake Norman Waterfront Lots
In August 2016 5 waterfront lots sold in the Lake Norman area, a 44.4% decrease from the 9 Lake Norman waterfront lots sold in July. August 2016 sales figures decreased 28.6% from August 2015 when 7 Lake Norman waterfront lots sold.

The average sales price was $457,000, down 10.3% from the July average sales price which was $509,556. The average sales price increased 20.2% from the August 2015 average sales price of $380,356.

The average days on the market decreased 53.2% from 173 days in July to 81 days on the market in August. Days on the market were down 76.2% from August 2015 when the average was 341 days on the market.

Currently there are 247 active Lake Norman waterfront lots listed in the MLS with 30 more under contract, up 3.4% from August. The average list price is $509,682, up .2% from last month. The lowest priced Lake Norman waterfront lot is listed at $48,900 and the highest priced Lake Norman waterfront lot is listed at $4,199,520.

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