Lake Norman Waterfront Real Estate Market Update July 2016

Lake Norman Waterfront Real Estate Market Update July 2016

Lake Norman Waterfront Homes
In July 2016 53 waterfront homes sold in the Lake Norman area, a 15.9% decrease from the 63 Lake Norman waterfront homes sold in June. July 2016 Lake Norman waterfront home sales figures increased 20.5% from July 2015 when 44 Lake Norman waterfront homes sold.

The average sales price increased 5.5% from $868,982 in June to $916,834 in July. The July 2016 average sales price increased .1% from the July 2015 average sales price which was $918,054.

Average days on the market decreased from 71 in June to 108 in July, a 52% increase in market time. The July 2015 average days on the market were 137, a 21.2% decrease in market time.

Currently there are 459 active Lake Norman waterfront homes listed in the MLS with 106 also under contract, down 1.9% from July. The average list price is $1,107,926, down .03% from July. The lowest priced active Lake Norman waterfront home is listed at $213,000 and the highest priced Lake Norman waterfront homeis listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes
In July 14 waterfront condos or townhomes sold in the Lake Norman area, a 27.3% increase from the 11 Lake Norman waterfront condos sold in June. July 2016 sales figures decreased 6.7% from July 2015 when 15 Lake Norman waterfront condos sold.

The average sales price increased 8.8% from $230,309 in June to $250,893 in July. The July 2016 average sales price decreased 1.2% from the July 2015 average sales price which was $253,867.

Average days on the market decreased 26.4% from 72 in June to 53 days on the market in July. The July 2015 average days on the market were 55, a 3.6% decrease in market time.

Currently there are 40 active Lake Norman waterfront condos listed in the MLS with 12 also under contract, a 14.3% decrease from July. The average list price is $295,600, down 2.4% from last month. The lowest priced active Lake Norman waterfront condo is listed at $130,000 and the highest priced active Lake Norman waterfront condo is listed at $564,900.

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Lake Norman Waterfront Lots
In July 2016 9 waterfront lots sold in the Lake Norman area, a 47.1% decrease from the 17 waterfront lots sold in June. July 2016 sales figures increased 0% from July 2015 when 9 Lake Norman waterfront lots sold.

The average sales price was $509,556, up 2.5% from the June average sales price which was $497,112. The average sales price increased 88.7% from the July 2015 average sales price of $270,000.

The average days on the market decreased 14.8% from 203 days in June to 173 days on the market in July. Days on the market were down 11.3% from July 2015 when the average was 195 days on the market.

Currently there are 250 active Lake Norman waterfront lots listed in the MLS with 29 more under contract, up 26% from July. The average list price is $508,417, down 1.8% 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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