Lake Norman Waterfront Real Estate Market Update July 2017

Lake Norman Waterfront Real Estate Market Update July 2017

Lake Norman Waterfront Homes
In July 2017 56 waterfront homes sold in the Lake Norman area, a 9.7% decrease from the 62 Lake Norman waterfront homes sold in June 2017. July 2017 Lake Norman waterfront home sales figures decreased 5.7% from July 2016 when 53 Lake Norman waterfront homes sold.

The average sales price increased 15.6% from $783,230 in June to $905,200 in July. The July 2017 average sales price decreased 1.3% from the July 2016 average sales price which was $916,834.

Average days on the market decreased from 124 in June to 88 in July, a 29% decrease in market time. The July 2016 average days on the market were 108, an 18.5% decrease in market time.

Currently there are 334 active Lake Norman waterfront homes listed in the MLS with 132 also under contract, up 7.3% from July. The average list price is $1,209,924, down .5% from July. The lowest priced active Lake Norman waterfront home is 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 July 2017 15 waterfront condos or townhomes sold in the Lake Norman area, a 36.4% increase from the 11 Lake Norman waterfront condos sold in June 2017. July 2017 sales figures increased 7.1% from July 2016 when 14 Lake Norman waterfront condos sold.

The average sales price decreased 8.1% from $315,805 in June to $290,380 in July. The July 2017 average sales price increased 15.7% from the July 2016 average sales price which was $250,893.

Average days on the market decreased 15% from 67 in June to 57 days on the market in July. The July 2016 average days on the market were 53, a 7.5% decrease in market time from one year ago.

Currently there are 11 active Lake Norman waterfront condos listed in the MLS with 13 also under contract, a 52.2% decrease in active inventory from July. The average list price is $316,573, down 6.1% 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 $475,000.

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Lake Norman Waterfront Lots
In July 2017 12 waterfront lots sold in the Lake Norman area, a 20% decrease from the 15 Lake Norman waterfront lots sold in June 2017. July 2017 sales figures increased 33.3% from July 2016 when 9 Lake Norman waterfront lots sold.

The average sales price in July 2017 was $503,533, up 17.1% from the June 2017 average sales price which was $430,167. The July 2017 average sales price decreased 1.2% from the July 2016 average sales price of $509,566.

The average days on the market increased 108% from 99 days in June to 206 days on the market in July. Days on the market were up 19.1% from July 2016 when the average was 173 days on the market.

Currently there are 218 active Lake Norman waterfront lots listed in the MLS with 36 more under contract, down 5.3% from July. The average list price is $446,632, down 3% 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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