Lake Norman Waterfront Real Estate Update February 2019

Lake Norman Waterfront Real Estate Update February 2019

Lake Norman Waterfront Homes

In February 2019 27 waterfront homes sold in the Lake Norman area, a 6.9% decrease from the 29 Lake Norman waterfront homes sold in January 2019. February 2019 Lake Norman waterfront home sales figures increased 3.8% from February 2018 when 26 Lake Norman waterfront homes sold.

The average sales price increased by 10.2% from $808,186 in January to $890,833 in February 2019. The February 2019 average sales price decreased 11.1% from the February 2018 average sales price which was $1,002,250.

Average days on the market increased from 119 in January to 115 in February 2019, a 3.4% decrease in market time. The February 2018 average days on the market were 145, a 20.7% decrease in market time from one year ago.

Currently there are 252 active Lake Norman waterfront homes listed in the MLS, up 8.6% from February. There are 66 Lake Norman waterfront homes under contract, up 32% from February. The average list price of active listings is $1,313,951 down 1.3% from February’s average list price of $1,331,714. 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 February 2019 7 waterfront condos or townhomes sold in the Lake Norman area, a 133% increase from the 3 Lake Norman waterfront condos sold in January 2019. February 2019 sales figures increased 75% from February 2018 when 4 Lake Norman waterfront condos sold.

The average sales price decreased by 8.8% from $345,333 in January to $314,857 in February 2019. The February 2019 average sales price increased 34.8% from the February 2018 average sales price which was $233,500.

Average days on the market increased by 141% from 29 in January to 70 days on the market in February 2019. The February 2018 average days on the market were 17 an 312% increase in market time from one year ago.

Currently there are 36 active Lake Norman waterfront condos listed in the MLS, a 24% increase in active inventory from February. There are 8 Lake Norman waterfront condos under contract, down 47% from February. The average list price of active listings is $319,489, down 15% from last months average list price of $376,066. The lowest priced active Lake Norman waterfront condo is listed at $194,000 and the highest priced active Lake Norman waterfront condo is listed at $1,040,000. 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 February 2019 4 waterfront lots sold in the Lake Norman area, a 60% decrease from the 10 Lake Norman waterfront lots sold in January 2019. February 2019 sales figures decreased 42.9% from February 2018 when 7 Lake Norman waterfront lots sold.

The average sales price in February 2019 was $601,125, down 1% from the January 2019 average sales price which was $607,350. The February 2019 average sales price increased 157% from the February 2018 average sales price of $233,929.

The average days on the market decreased by 43.8% from 226 days in January to 127days on the market in February 2019. Days on the market were up 42.7% from February 2018 when the average was 89 days on the market.

Currently there are 208 active Lake Norman waterfront lots listed in the MLS, up 17.5% from February. There are 22 Lake Norman waterfront lots under contract, up 4.8% from February. The average list price is $443,062, down 1% 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, 8 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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