Lake Norman Waterfront Real Estate Market Update May 2017

Lake Norman Waterfront Real Estate Market Update May 2017

Lake Norman Waterfront Homes
In May 2017 53 waterfront homes sold in the Lake Norman area, an 82.8% increase from the 29 Lake Norman waterfront homes sold in April 2017. May 2017 Lake Norman waterfront home sales figures increased 23.3% from May 2016 when 43 Lake Norman waterfront homes sold.

The average sales price decreased 2.8% from $866,237 in April to $841,679 in May. The May 2017 average sales price increased 9.2% from the May 2016 average sales price which was $770,695.

Average days on the market increased from 107 in April to 110 in May, an 2.8% increase in market time. The May 2016 average days on the market were 91, a 20.9% increase in market time.

Currently there are 391 active Lake Norman waterfront homes listed in the MLS with 113 also under contract, down 4.2% from May. The average list price is $1,165,834, down 3.1% from May. The lowest priced active Lake Norman waterfront home is listed at $189,000 and the highest priced Lake Norman waterfront home is listed at $8,495,000.

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Lake Norman Waterfront Condos & Townhomes
In May 2017 15 waterfront condos or townhomes sold in the Lake Norman area, an 87.5% increase from the 8 Lake Norman waterfront condos sold in April 2017. May 2017 sales figures increased 275% from May 2016 when 4Lake Norman waterfront condos sold.

The average sales price decreased 27.3% from $355,363 in April to $258,510 in May. The May 2017 average sales price increased 5.1% from the May 2016 average sales price which was $245,875.

Average days on the market decreased 21.7% from 69 in April to 54 days on the market in May. The May 2016 average days on the market were 142, a 62% decrease in market time from one year ago.

Currently there are 20 active Lake Norman waterfront condos listed in the MLS with 19 also under contract, a 5.3% increase in active inventory from May. The average list price is $343,270, down 3.5% from last month. The lowest priced active Lake Norman waterfront condo is listed at $172,900 and the highest priced active Lake Norman waterfront condo is listed at $659,000.

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Lake Norman Waterfront Lots
In May 2017 6 waterfront lots sold in the Lake Norman area, a 25% decrease from the 8 Lake Norman waterfront lots sold in April 2017. May 2017 sales figures increased 20% from May 2016 when 5 Lake Norman waterfront lots sold.

The average sales price in May 2017 was $536,500, up 14.4% from the April 2017 average sales price which was $469,063. The May 2017 average sales price decreased 27.1% from the May 2016 average sales price of $736,000.

The average days on the market decreased 13.6% from 242 days in April to 209 days on the market in May. Days on the market were up 480% from May 2016 when the average was 36 days on the market.

Currently there are 235 active Lake Norman waterfront lots listed in the MLS with 36 more under contract, up 9% from May. The average list price is $432,116, down 4.4% 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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