Lake Norman Waterfront Real Estate Update May 2018

Lake Norman Waterfront Real Estate Update May 2018

Lake Norman Waterfront Homes

In May 2018 49 waterfront homes sold in the Lake Norman area, a 9% increase from the 45 Lake Norman waterfront homes sold in April 2018. May 2018 Lake Norman waterfront home sales figures decreased 7.5% from May 2017 when 53 Lake Norman waterfront homes sold.

The average sales price decreased 11% from $1,180,370 in April to $1,050,615 in May. The May 2018 average sales price increased 26% from the May 2017 average sales price which was $834,435.

Average days on the market decreased from 109 in April to 86 in May, a 21% decrease in market time. The May 2017 average days on the market were 106, a 21% decrease in market time.

Currently there are 308 active Lake Norman waterfront homes listed in the MLS, up 2.7% from May, with 98 also under contract, down 12.5% from May. The average list price is $1,171,423 down 7% from May’s average list price of $1,260,965. The lowest priced active Lake Norman waterfront home is listed at $179,900 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes

In May 2018 12 waterfront condos or townhomes sold in the Lake Norman area, a 20% increase from the 10 Lake Norman waterfront condos sold in April 2018. May 2018 sales figures decreased 20% from May 2017 when 15 Lake Norman waterfront condos sold.

The average sales price decreased 26.3% from $367,250 in April to $270,742 in May. The May 2018 average sales price increased 4.7% from the May 2017 average sales price which was $258,510.

Average days on the market decreased 18.2% from 44 in April to 36 days on the market in May. The May 2017 average days on the market were 54, a 33% decrease in market time from one year ago.

Currently there are 36 active Lake Norman waterfront condos listed in the MLS, a 50% increase in active inventory from May, with 16 also under contract, up 14.3% from May. The average list price is $385,847, up 11.4% from last months list price of $346,483. The lowest priced active Lake Norman waterfront condo is listed at $189,900 and the highest priced active Lake Norman waterfront condo is listed at $1,195,000.

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Lake Norman Waterfront Lots

In May 2018 5 waterfront lots sold in the Lake Norman area, a 17% decrease from the 6 Lake Norman waterfront lots sold in April 2018. May 2018 sales figures decreased 28.6% from May 2017 when 7 Lake Norman waterfront lots sold.

The average sales price in April was $173,000, down 49% from the April average sales price which was $339,783. The May 2018 average sales price decreased 67% from the May 2017 average sales price of $522,000.

The average days on the market decreased 48% from 303 days in April to 158 days on the market in May. Days on the market were down 19.4% from May 2017 when the average was 196 days on the market.

Currently there are 231 active Lake Norman waterfront lots listed in the MLS, up .2.2% from May, with 27 more under contract. The average list price is $502,719, up 4.4% 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 $4,500,000.

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