Lake Norman Waterfront Real Estate Update June 2019

Lake Norman Waterfront Real Estate Update June 2019

Lake Norman Waterfront Homes

In June 2019 59 waterfront homes sold in the Lake Norman area, a 11.3% increase from the 53 Lake Norman waterfront homes sold in May 2019. June 2019 Lake Norman waterfront home sales figures decreased 6.3% from June 2018 when 63 Lake Norman waterfront homes sold.

The average sales price increased by 24.7% from $923,988 in May to $1,152,267 in June 2019. The June 2019 average sales price increased 29.5% from the June 2018 average sales price which was $889,602.

Average days on the market decreased from 89 in May to 95 in June 2019, a 6.7% increase in market time. The June 2018 average days on the market were 92, a 3.3% increase in market time from one year ago.

Currently, there are 297 active Lake Norman waterfront homes listed in the MLS, up 2.4% from June. There are 76 Lake Norman waterfront homes under contract, down 1.3% from June. The average list price of active listings is $1,267,611 down 2.4% from June’s average list price of $1,298,831. 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, 5.5 months of inventory, we are currently in a balanced market for Lake Norman waterfront homes.

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Lake Norman Waterfront Condos & Townhomes

In June 2019 19 waterfront condos or townhomes sold in the Lake Norman area, a 171% increase from the 7 Lake Norman waterfront condos sold in May 2019. June 2019 sales figures increased 138% from June 2018 when 8 Lake Norman waterfront condos sold.

The average sales price increased by 4.3% from $292,186 in May to $304,837 in June 2019. The June 2019 average sales price increased 12.7% from the June 2018 average sales price which was $270,500.

Average days on the market decreased by 9.7% from 72 in May to 65 days on the market in June 2019. The June 2018 average days on the market were 44 a 47.7% increase in market time from one year ago.

Currently there are 37 active Lake Norman waterfront condos listed in the MLS, a 12.1% increase in active inventory from June. There are 19 Lake Norman waterfront condos under contract, down 17.4% from June. The average list price of active listings is $334,708, down 6.9% from last months average list price of $359,566. The lowest-priced active Lake Norman waterfront condo is listed at $174,900 and the highest priced active Lake Norman waterfront condo is listed at $990,000. Based on this data, 1.9 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 June 2019 8 waterfront lots sold in the Lake Norman area, a 20% decrease from the 10 Lake Norman waterfront lots sold in May 2019. June 2019 sales figures decreased 11.1% from June 2018 when 9 Lake Norman waterfront lots sold.

The average sales price in June 2019 was $397,175, up 37% from the May 2019 average sales price which was $289,890 The June 2019 average sales price increased 35% from the June 2018 average sales price of $294,389.

The average days on the market increased by 96.4% from 137 days in May to 269 days on the market in June 2019. Days on the market were down 11.2% from June 2018 when the average was 303 days on the market.

Currently, there are 224 active Lake Norman waterfront lots listed in the MLS, up 0% from June. There are 23 Lake Norman waterfront lots under contract, up 21% from June. The average list price is $508,271, up 3.1% 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 $4,900,000. Based on this data, 7.7 months of inventory, we are currently in a balanced market for Lake Norman waterfront lots.

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