Lake Norman Waterfront Real Estate Market Update October 2016

Lake Norman Waterfront Real Estate Market Update October 2016

Lake Norman Waterfront Homes
In October 2016 38 waterfront homes sold in the Lake Norman area, a 24% decrease from the 50 Lake Norman waterfront homes sold in September. October 2016 Lake Norman waterfront home sales figures increased 0% from October 2015 when 38 Lake Norman waterfront homes sold.

The average sales price increased 8.2% from $721,233 in September to $780,493 in October. The October 2016 average sales price decreased 4.8% from the October 2015 average sales price which was $819,986.

Average days on the market decreased from 109 in September to 91 in October, a 16.5% decrease in market time. The October 2015 average days on the market were 125, a 27.2% decrease in market time.

Currently there are 345 active Lake Norman waterfront homes listed in the MLS with 78 also under contract, down 10.3% from October. The average list price is $1,082,766, down 1.1% from October. The lowest priced active Lake Norman waterfront home is listed at $210,000 and the highest priced Lake Norman waterfront homeis listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes
In October 13 waterfront condos or townhomes sold in the Lake Norman area, a 13.3% decrease from the 15 Lake Norman waterfront condos sold in September. October 2016 sales figures increased 62.5% from October 2015 when 8 Lake Norman waterfront condos sold.

The average sales price increased 3.7% from $246,613 in September to $255,615 in October. The October 2016 average sales price increased 4% from the October 2015 average sales price which was $245,750.

Average days on the market increased 7.3% from 109 in September to 117 days on the market in October. The October 2015 average days on the market were 61, a 91.8% increase in market time.

Currently there are 27 active Lake Norman waterfront condos listed in the MLS with 13 also under contract, a 23.5% decrease from October. The average list price is $311,462, up .8% 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 $564,900.

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Lake Norman Waterfront Lots
In October 2016 5 waterfront lots sold in the Lake Norman area, a 44.4% decrease from the 9 Lake Norman waterfront lots sold in September. October 2016 sales figures decreased 50% from October 2015 when 10 Lake Norman waterfront lots sold.

The average sales price in October was $380,700, down 21.9% from the September average sales price which was $487,219. The October 2016 average sales price decreased 12.4% from the October 2015 average sales price of $434,350.

The average days on the market decreased 3.4% from 146 days in September to 141 days on the market in October. Days on the market were down 40% from October 2015 when the average was 235 days on the market.

Currently there are 228 active Lake Norman waterfront lots listed in the MLS with 24 more under contract, down 11.1% from October. The average list price is $467,984, down 2.2% 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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