Lake Norman Waterfront Real Estate Update May 2019

Lake Norman Waterfront Real Estate Update May 2019

Lake Norman Waterfront Homes

In May 2019 53 waterfront homes sold in the Lake Norman area, a 35.9% increase from the 39 Lake Norman waterfront homes sold in April 2019. May 2019 Lake Norman waterfront home sales figures increased 6% from May 2018 when 50 Lake Norman waterfront homes sold.

The average sales price decreased by 17.7% from $1,122,648 in April to $923,988 in May 2019. The May 2019 average sales price decreased 11.1% from the May 2018 average sales price which was $1,040,103.

Average days on the market decreased from 98 in April to 89 in May 2019, a 9.2% decrease in market time. The May 2018 average days on the market were 84, a 6% increase in market time from one year ago.

Currently, there are 290 active Lake Norman waterfront homes listed in the MLS, down .3% from May. There are 77 Lake Norman waterfront homes under contract, down 15.4% from May. The average list price of active listings is $1,298,831 down .4% from May’s average list price of $1,303,852. 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.

Use our free listing service to see the current Lake Norman waterfront homes for sale: Lake Norman waterfront homes for sale

Stay up to date on the Lake Norman real estate market with our free market updates.

Lake Norman Waterfront Condos & Townhomes

In May 2019 7 waterfront condos or townhomes sold in the Lake Norman area, a 12.5% decrease from the 8 Lake Norman waterfront condos sold in April 2019. May 2019 sales figures decreased 41.7% from May 2018 when 12 Lake Norman waterfront condos sold.

The average sales price decreased by 22% from $374,750 in April to $292,186 in May 2019. The May 2019 average sales price increased 7.9% from the May 2018 average sales price which was $270,742.

Average days on the market decreased by 28% from 100 in April to 72 days on the market in May 2019. The May 2018 average days on the market were 36 a 100% increase in market time from one year ago.

Currently there are 33 active Lake Norman waterfront condos listed in the MLS, a 13.2% decrease in active inventory from May. There are 23 Lake Norman waterfront condos under contract, up 64.3% from May. The average list price of active listings is $359,566, up 6.2% from last months average list price of $338,584. The lowest priced active Lake Norman waterfront condo is listed at $215,000 and the highest priced active Lake Norman waterfront condo is listed at $990,000. Based on this data, 2.7 months of inventory, we are currently in a seller’s market for Lake Norman waterfront condos.

Use our free listing service to see the current Lake Norman waterfront condos for sale: Lake Norman waterfront condos for sale

Stay up to date on the Lake Norman real estate market with our free market updates.

Lake Norman Waterfront Lots

In May 2019 10 waterfront lots sold in the Lake Norman area, a 25% increase from the 8 Lake Norman waterfront lots sold in April 2019. May 2019 sales figures increased 66.7% from May 2018 when 6 Lake Norman waterfront lots sold.

The average sales price in May 2019 was $289,890, down 5.2% from the April 2019 average sales price which was $305,688 The May 2019 average sales price increased 42% from the May 2018 average sales price of $204,167.

The average days on the market increased by 33% from 103 days in April to 137 days on the market in May 2019. Days on the market were down .7% from May 2018 when the average was 138 days on the market.

Currently, there are 224 active Lake Norman waterfront lots listed in the MLS, up .4% from May. There are 19 Lake Norman waterfront lots under contract, down 0% from May. The average list price is $492,957, up 3.9% 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.

Use our free listing service to see the current Lake Norman waterfront lots for sale: Lake Norman waterfront lots for sale

Stay up to date on the Lake Norman real estate market with our free market updates.