Lake Norman Waterfront Real Estate Market Update February 2017

Lake Norman Waterfront Real Estate Market Update Febraury 2017

Lake Norman Waterfront Homes
In February 2017 16 waterfront homes sold in the Lake Norman area, a 33% decrease from the 24 Lake Norman waterfront homes sold in January 2017. February 2017 Lake Norman waterfront home sales figures decreased 36% from February 2016 when 25 Lake Norman waterfront homes sold.

The average sales price decreased 29.2% from $1,043,672 in January to $739,383 in February. The February 2017 average sales price decreased 15.5% from the February 2016 average sales price which was $874,888.

Average days on the market decreased from 115 in January to 105 in February, an 8.7% decrease in market time. The February 2016 average days on the market were 144, a 27.1% increase in market time.

Currently there are 341 active Lake Norman waterfront homes listed in the MLS with 90 also under contract, up 11.1% from February. The average list price is $1,179,736, up 6% from February. The lowest priced active Lake Norman waterfront home is listed at $175,000 and the highest priced Lake Norman waterfront homeis listed at $8,495,000.

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Lake Norman Waterfront Condos & Townhomes
In February 2017 7 waterfront condos or townhomes sold in the Lake Norman area, a 12.5% decrease from the 8 Lake Norman waterfront condos sold in January 2017. February 2017 sales figures decreased 22.2% from February 2016 when 9 Lake Norman waterfront condos sold.

The average sales price increased 46.4% from $246,219 in January to $360,500 in February. The February 2017 average sales price increased 67.2% from the February 2016 average sales price which was $215,611.

Average days on the market decreased 56.5% from 85 in January to 37 days on the market in February. The February 2016 average days on the market were 121, a 69.4% decrease in market time.

Currently there are 13 active Lake Norman waterfront condos listed in the MLS with 18 also under contract, an 18.8% decrease in active inventory from February. The average list price is $345,015, up 3% from last month. The lowest priced active Lake Norman waterfront condo is listed at $162,000 and the highest priced active Lake Norman waterfront condo is listed at $715,000.

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Lake Norman Waterfront Lots
In February 2017 11 waterfront lots sold in the Lake Norman area, a 450% increase from the 2 Lake Norman waterfront lots sold in January 2017. February 2017 sales figures increased 120% from February 2016 when 5 Lake Norman waterfront lots sold.

The average sales price in February 2017 was $409,932, up 197.6% from the January 2017 average sales price which was $137,750. The February 2017 average sales price increased 36.6% from the February 2016 average sales price of $300,100.

The average days on the market decreased 57.2% from 521 days in January to 223 days on the market in February. Days on the market were up 57% from February 2016 when the average was 142 days on the market.

Currently there are 222 active Lake Norman waterfront lots listed in the MLS with 18 more under contract, up 8.8% from February. The average list price is $449,550, down 5.8% 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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