Lake Norman Waterfront Real Estate Market Update May 2016

Lake Norman Waterfront Real Estate Market Update May 2016

Lake Norman Waterfront Homes
In May 2016 42 waterfront homes sold in the Lake Norman area, a 31.3% increase from the 32 Lake Norman waterfront homes sold in April. May 2016 Lake Norman waterfront home sales figures increased 10.5% from May 2015 when 38 Lake Norman waterfront homes sold.

The average sales price decreased .5% from $765,145 in April to $769,242 in May. The May 2016 average sales price decreased 18.4% from the May 2015 average sales price which was $942,329.

Average days on the market decreased from 116 in April to 93 in May, a 19.8% decrease in market time. The May 2015 average days on the market were 120, a 22.5% decrease in market time.

Currently there are 451 active Lake Norman waterfront homes listed in the MLS with 108 also under contract, up 3.8% from May. The average list price is $1,134,432, down 2% from May. 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 May 4 waterfront condos or townhomes sold in the Lake Norman area, an 20% decrease from the 5 Lake Norman waterfront condos sold in April. May 2016 sales figures decreased 78.9% from May 2015 when 19 Lake Norman waterfront condos sold.

The average sales price increased .4% from $244,950 in April to $245,875 in May. The May 2016 average sales price increased 1.8% from the May 2015 average sales price which was $241,608.

Average days on the market increased 6.8% from 133 in April to 142 days on the market in May. The May 2015 average days on the market were 99, a 43.4% increase in market time.

Currently there are 50 active Lake Norman waterfront condos listed in the MLS with 6 also under contract, a 20% increase from May. The average list price is $316,598, up 1.9% from last month. The lowest priced active Lake Norman waterfront condo is listed at $150,000 and the highest priced active Lake Norman waterfront condo is listed at $699,000.

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Lake Norman Waterfront Lots
In May 2016 5 waterfront lots sold in the Lake Norman area, a 44.4% decrease from the 9 waterfront lots sold in April. The average sales price was $736,000, up 92.8% from the April average sales price which was $381,833. May 2016 sales figures decreased 50% from May 2015 when 10 Lake Norman waterfront lots sold. The average sales price increased 101.3% from the May 2015 average sales price of $365,600.

The average days on the market decreased 77.6% from 161 days in April to 36 days on the market in May. Days on the market were down 89.1% from May 2015 when the average was 331 days on the market.

Currently there are 255 active Lake Norman waterfront lots listed in the MLS with 27 more under contract, down 10% from May. The average list price is $511,092, up 5.1% from last month. The lowest priced Lake Norman waterfront lot is listed at $65,900 and the highest priced Lake Norman waterfront lot is listed at $4,199,520.

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