Lake Norman Waterfront Real Estate Market Update August 2017

Lake Norman Waterfront Real Estate Market Update August 2017

Lake Norman Waterfront Homes
In August 2017 71 waterfront homes sold in the Lake Norman area, a 26.8% increase from the 56 Lake Norman waterfront homes sold in July 2017 and the highest monthly total on record. August 2017 Lake Norman waterfront home sales figures increased 14.5% from August 2016 when 62 Lake Norman waterfront homes sold.

The average sales price decreased 8.4% from $905,200 in July to $829,293 in August. The August 2017 average sales price decreased 17.2% from the August 2016 average sales price which was $1,001,101.

Average days on the market increased from 88 in July to 106 in August, a 20.5% increase in market time. The August 2016 average days on the market were 101, an 5% increase in market time.

Currently there are 327 active Lake Norman waterfront homes listed in the MLS with 106 also under contract, down 19.7% from August. The average list price is $1,198,458, down .9% from August. The lowest priced active Lake Norman waterfront homeis listed at $185,000 and the highest priced Lake Norman waterfront home is listed at $7,745,000.

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Lake Norman Waterfront Condos & Townhomes
In August 2017 12 waterfront condos or townhomes sold in the Lake Norman area, a 20% decrease from the 15 Lake Norman waterfront condos sold in July 2017. August 2017 sales figures increased 71.4% from August 2016 when 7 Lake Norman waterfront condos sold.

The average sales price decreased 11.2% from $290,380 in July to $257,958 in August. The August 2017 average sales price decreased 2.4% from the August 2016 average sales price which was $264,214.

Average days on the market decreased 47.4% from 57 in July to 30 days on the market in August. The August 2016 average days on the market were 101, a 70.3% decrease in market time from one year ago.

Currently there are 14 active Lake Norman waterfront condos listed in the MLS with 5 also under contract, a 27.3% increase in active inventory from August . The average list price is $312,164, down 1.4% from last month. The lowest priced active Lake Norman waterfront condo is listed at $165,000 and the highest priced active Lake Norman waterfront condo is listed at $659,000.

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Lake Norman Waterfront Lots
In August 2017 14 waterfront lots sold in the Lake Norman area, a 17% increase from the 12 Lake Norman waterfront lots sold in July 2017. August 2017 sales figures increased 133.3% from August 2016 when 6 Lake Norman waterfront lots sold.

The average sales price in August 2017 was $289,214, down 42.6% from the July 2017 average sales price which was $503,533. The August 2017 average sales price decreased 28.6% from the August 2016 average sales price of $402,250.

The average days on the market decreased 7.8% from 206 days in July to 190 days on the market in August. Days on the market were up 72.7% from August 2016 when the average was 110 days on the market.

Currently there are 218 active Lake Norman waterfront lots listed in the MLS with 20 more under contract, down 44% from August. The average list price is $444,938, down .4% 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 $4,500,000.

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