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.
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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.
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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.
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