Lake Norman Waterfront Real Estate Market Update February 2016

Lake Norman Waterfront Real Estate Market Update February 2016

Lake Norman Waterfront Homes
In February 2016 25 waterfront homes sold in the Lake Norman area, a 31.6% increase from the 19 Lake Norman waterfront homes sold in January. February 2016 Lake Norman waterfront home sales figures increased 13.6% from February 2015 when 22 Lake Norman waterfront homes sold.

The average sales price decreased 1.4% from $887,158 in January to $874,888 in February. The February 2016 average sales price increased 3.5% from the February 2015 average sales price which was $845,495.

Average days on the market increased from 86 in January to 144 in February, a 67.4% increase in market time. The February 2015 average days on the market were 142, a 1.4% increase in market time.

Currently there are 344 active Lake Norman waterfront homes listed in the MLS with 76 also under contract, up 28.8% from February. The average list price is $1,175,384, down .7% from February. The lowest priced Lake Norman waterfront home is listed at $144,900 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes
In February 9 waterfront condos or townhomes sold in the Lake Norman area, a 200% increase from the 3 Lake Norman waterfront condos sold in January. February 2016 sales figures increased 80% from February 2015 when 5 Lake Norman waterfront condos sold.

The average sales price decreased 15.2% from $254,333 in January to $215,611 in February. The February 2016 average sales price decreased 7.1% from the February 2015 average sales price which was $232,000.

Average days on the market decreased 43.5% from 214 in January to 121 days on the market in February. The February 2015 average days on the market were 54, a 124.1% increase in market time.

Currently there are 45 active Lake Norman waterfront condos listed in the MLS with 8 also under contract, a 27% decrease from February. The average list price is $304,450, down 3.5% from last month. The lowest priced active Lake Norman waterfront condo is listed at $137,000 and the highest priced active Lake Norman waterfront condo is listed at $729,000.

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Lake Norman Waterfront Lots
In February 2016 5 waterfront lots sold in the Lake Norman area, a 25% increase from the 4 waterfront lots sold in January. The average sales price was $300,100, up 45.7% from the January average sales price which was $205,988. February 2016 sales figures decreased 37.5% from February 2015 when 8 Lake Norman waterfront lots sold. The average sales price decreased 26.7% from the February 2015 average sales price of $409,563.

The average days on the market decreased 61.3% from 367 days in January to 142 days on the market in February. Days on the market were down 32.1% from February 2015 when the average was 209 days on the market.

Currently there are 212 active Lake Norman waterfront lots listed in the MLS with 27 of those currently under contract, up 35% from February. The average list price is $471,891, up 1.9% from last month. The lowest priced Lake Norman waterfront lot is listed at $55,900 and the highest priced Lake Norman waterfront lot is listed at $3,750,000.

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