Lake Norman Waterfront Real Estate Market Update March 2017

Lake Norman Waterfront Real Estate Market Update March 2017

Lake Norman Waterfront Homes
In March 2017 47 waterfront homes sold in the Lake Norman area, a 193.8% increase from the 16 Lake Norman waterfront homes sold in February 2017 and the highest March total on record. March 2017 Lake Norman waterfront home sales figures increased 88% from March 2016 when 25 Lake Norman waterfront homes sold.

The average sales price increased 17% from $739,983 in February to $866,130 in March. The March 2017 average sales price increased 4.3% from the March 2016 average sales price which was $830,200.

Average days on the market increased from 105 in February to 124 in March, an 18.1% increase in market time. The March 2016 average days on the market were 99, a 25.3% increase in market time.

Currently there are 372 active Lake Norman waterfront homes listed in the MLS with 110 also under contract, up 22.2% from March. The average list price is $1,158,667, down 1.8% from March. The lowest priced active Lake Norman waterfront home is listed at $225,000 and the highest priced Lake Norman waterfront home is listed at $8,495,000.

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Lake Norman Waterfront Condos & Townhomes
In March 2017 22 waterfront condos or townhomes sold in the Lake Norman area, a 214% increase from the 7 Lake Norman waterfront condos sold in February 2017 and the highest total since June 2004. March 2017 sales figures increased 120% from March 2016 when 10 Lake Norman waterfront condos sold.

The average sales price decreased 17.2% from $360,500 in February to $298,545 in March. The March 2017 average sales price increased 22.2% from the March 2016 average sales price which was $244,370.

Average days on the market increased 154% from 37 in February to 94 days on the market in March. The March 2016 average days on the market were 57, a 64.9% increase in market time from one year ago.

Currently there are 14 active Lake Norman waterfront condos listed in the MLS with 14 also under contract, a 7.7% increase in active inventory from March. The average list price is $382,300, up 10.8% from last month. The lowest priced active Lake Norman waterfront condo is listed at $184,900 and the highest priced active Lake Norman waterfront condo is listed at $689,000.

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Lake Norman Waterfront Lots
In March 2017 3 waterfront lots sold in the Lake Norman area, a 75% decrease from the 12 Lake Norman waterfront lots sold in February 2017. March 2017 sales figures decreased 70% from March 2016 when 10 Lake Norman waterfront lots sold.

The average sales price in March 2017 was $496,667, up 25.5% from the February 2017 average sales price which was $395,771. The March 2017 average sales price increased 56.5% from the March 2016 average sales price of $317,450.

The average days on the market decreased 50.7% from 215 days in February to 106 days on the market in March. Days on the market were down 47.5% from March 2016 when the average was 202 days on the market.

Currently there are 234 active Lake Norman waterfront lots listed in the MLS with 24 more under contract, up 33% from March. The average list price is $467,762, up 4.1% 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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