Lake Norman Waterfront Real Estate Market Update March 2016

Lake Norman Waterfront Real Estate Market Update March 2016

Lake Norman Waterfront Homes
In March 2016 25 waterfront homes sold in the Lake Norman area, a 0% increase from the 25 Lake Norman waterfront homes sold in Febraury. March 2016 Lake Norman waterfront home sales figures decreased 24.2% from March 2015 when 33 Lake Norman waterfront homes sold.

The average sales price decreased 5.1% from $874,888 in February to $830,200 in March. The March 2016 average sales price increased 20% from the March 2015 average sales price which was $691,623.

Average days on the market increased from 144 in February to 99 in March, a 31.3% decrease in market time. The March 2015 average days on the market were 124, a 20.2% decrease in market time.

Currently there are 401 active Lake Norman waterfront homes listed in the MLS with 104 also under contract, up 37% from March. The average list price is $1,091,075, down 7.2% from March. 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 March 10 waterfront condos or townhomes sold in the Lake Norman area, an 11% increase from the 9 Lake Norman waterfront condos sold in February. March 2016 sales figures increased 42.9% from March 2015 when 7 Lake Norman waterfront condos sold.

The average sales price increased 13.3% from $215,611 in February to $244,370 in March. The March 2016 average sales price increased 2.5% from the March 2015 average sales price which was $238,500.

Average days on the market decreased 52.9% from 121 in February to 57 days on the market in March. The March 2015 average days on the market were 126, a 54.8% decrease in market time.

Currently there are 48 active Lake Norman waterfront condos listed in the MLS with 5 also under contract, a 37.5% decrease from March. The average list price is $310,806, up 2.1% from last month. The lowest priced active Lake Norman waterfront condo is listed at $154,900 and the highest priced active Lake Norman waterfront condo is listed at $725,000.

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Lake Norman Waterfront Lots
In March 2016 10 waterfront lots sold in the Lake Norman area, a 100% increase from the 5 waterfront lots sold in February. The average sales price was $317,450, up 5.8% from the February average sales price which was $300,100. March 2016 sales figures decreased 28.6% from March 2015 when 14 Lake Norman waterfront lots sold. The average sales price increased 4.4% from the March 2015 average sales price of $304,029.

The average days on the market increased 42.3% from 142 days in February to 202 days on the market in March. Days on the market were down 23.5% from March 2015 when the average was 264 days on the market.

Currently there are 230 active Lake Norman waterfront lots listed in the MLS with 28 more under contract, up 3.7% from March. The average list price is $493,070, up 4.5% 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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