Lake Norman Waterfront Real Estate Update April 2019

Lake Norman Waterfront Real Estate Update April 2019

Lake Norman Waterfront Homes

In April 2019 39 waterfront homes sold in the Lake Norman area, a 95% increase from the 20 Lake Norman waterfront homes sold in March 2019. April 2019 Lake Norman waterfront home sales figures decreased 13.3% from April 2018 when 45 Lake Norman waterfront homes sold.

The average sales price increased by 34.8% from $832,913 in March to $1,122,648 in April 2019. The April 2019 average sales price decreased 4.9% from the April 2018 average sales price which was $1,180,370.

Average days on the market decreased from 146 in March to 98 in April 2019, a 32.9% decrease in market time. The April 2018 average days on the market were 109, a 10.1% decrease in market time from one year ago.

Currently, there are 291 active Lake Norman waterfront homes listed in the MLS, up 6.2% from April. There are 91 Lake Norman waterfront homes under contract, up 2.2% from April. The average list price of active listings is $1,303,852 up .6% from April’s average list price of $1,296,111. The lowest priced active Lake Norman waterfront home is listed at $145,000 and the highest priced Lake Norman waterfront home is listed at $6,995,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In April 2019 8 waterfront condos or townhomes sold in the Lake Norman area, a 42.9% decrease from the 14 Lake Norman waterfront condos sold in March 2019. April 2019 sales figures decreased 20% from April 2018 when 10 Lake Norman waterfront condos sold.

The average sales price increased by 41.1% from $265,536 in March to $374,750 in April 2019. The April 2019 average sales price increased 2% from the April 2018 average sales price which was $367,250.

Average days on the market increased by 81.8% from 55 in March to 100 days on the market in April 2019. The April 2018 average days on the market were 44 a 127% increase in market time from one year ago.

Currently there are 38 active Lake Norman waterfront condos listed in the MLS, a 0% increase in active inventory from April. There are 14 Lake Norman waterfront condos under contract, up 40% from April. The average list price of active listings is $338,584, up 1.9% from last months average list price of $332,208. The lowest priced active Lake Norman waterfront condo is listed at $192,000 and the highest priced active Lake Norman waterfront condo is listed at $1,025,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

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Lake Norman Waterfront Lots

In April 2019 8 waterfront lots sold in the Lake Norman area, a 60% increase from the 5 Lake Norman waterfront lots sold in March 2019. April 2019 sales figures increased 14.3% from April 2018 when 7 Lake Norman waterfront lots sold.

The average sales price in April 2019 was $305,688, down 5.4% from the March 2019 average sales price which was $323,000. The April 2019 average sales price decreased 5.1% from the April 2018 average sales price of $321,957.

The average days on the market increased by 158% from 40 days in March to 103 days on the market in April 2019. Days on the market were down 62.7% from April 2018 when the average was 276 days on the market.

Currently, there are 223 active Lake Norman waterfront lots listed in the MLS, up 3.7% from April. There are 19 Lake Norman waterfront lots under contract, down 0% from April. The average list price is $474,607, up 6.6% from last month. The lowest priced Lake Norman waterfront lot is listed at $50.000 and the highest priced Lake Norman waterfront lot is listed at $2,950,000. Based on this data, 9.3 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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