Lake Norman Waterfront Real Estate Update July 2018

Lake Norman Waterfront Real Estate Update July 2018

Lake Norman Waterfront Homes

In July 2018 47 waterfront homes sold in the Lake Norman area, a 25.4%decrease from the 63 Lake Norman waterfront homes sold in June 2018. July 2018 Lake Norman waterfront home sales figures decreased 19% from July 2017 when 58 Lake Norman waterfront homes sold.

The average sales price decreased 7.4% from $889,602 in June to $823,812 in July. The July 2018 average sales price decreased 6.9% from the July 2017 average sales price which was $885,116.

Average days on the market increased from 92 in June to 98 in July, a 6.5% increase in market time. The July 2017 average days on the market were 93, a 5.4% increase in market time.

Currently there are 298 active Lake Norman waterfront homes listed in the MLS, down 2% from July, with 103 also under contract, down 2.8% from July. The average list price of active listings is $1,281,750 up 9.8% from July’s average list price of $1,167,027. The lowest priced active Lake Norman waterfront home is listed at $215,000 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes

In July 2018 18 waterfront condos or townhomes sold in the Lake Norman area, a 125% increase from the 8 Lake Norman waterfront condos sold in June 2018. July 2018 sales figures increased 20% from July 2017 when 15 Lake Norman waterfront condos sold.

The average sales price increased 26.5% from $270,500 in June to $342,250 in July. The July 2018 average sales price increased 17.9% from the July 2017 average sales price which was $290,380.

Average days on the market decreased 18.2% from 44 in June to 36 days on the market in July. The July 2017 average days on the market were 57 a 36.8% decrease in market time from one year ago.

Currently there are 35 active Lake Norman waterfront condos listed in the MLS, a 14.6% decrease in active inventory from July, with 14 also under contract, down 6.7% from July. The average list price of active listings is $419,967, up 10.1% from last months list price of $381,271. The lowest priced active Lake Norman waterfront condo is listed at $187,000 and the highest priced active Lake Norman waterfront condo is listed at $1,045,000.

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Lake Norman Waterfront Lots

In July 2018 10 waterfront lots sold in the Lake Norman area, an 11.1% increase from the 9 Lake Norman waterfront lots sold in June 2018. July 2018 sales figures decreased 16.7% from July 2017 when 12 Lake Norman waterfront lots sold.

The average sales price in July was $384,080, up 30.5% from the June average sales price which was $294,389. The July 2018 average sales price decreased 23.7% from the July 2017 average sales price of $503,533.

The average days on the market decreased 33% from 303 days in June to 203 days on the market in July. Days on the market were down 1.5% from July 2017 when the average was 206 days on the market.

Currently there are 223 active Lake Norman waterfront lots listed in the MLS, down .01% from July, with 29 more under contract. The average list price is $497,404, down .2% 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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Lake Norman Real Estate Market Update July 2018

Lake Norman Real Estate Update July 2018

Lake Norman Homes

In July 2018 210 homes sold in the Lake Norman area,  a 19.8% decrease from the 262 homes sold in June 2018. The July 2018 sales figures increased 8.2% from July 2017 when 194 homes sold in the Lake Norman real estate market.

The average sales price decreased 5% from $540,254 in June to $513,774 in July,. The July 2018 average sales price decreased 2.4% from the July 2017 average sales price which was $526,423

Average days on the market increased 1.4% from 71 days on the market in June to 72 days on the market in July. The July 2017 average days on the market were 75, a 4% decrease in market time from last year.

Currently there are 812 active homes for sale in the Lake Norman MLS area, down 6.1% from July. The average list price is $789,802 up 4.9% from the June average list price of $752,855. The average days on the market are 148.  344 Lake Norman homes are currently under contract, down 12% from July. Based on this data we are currently in a sellers market, 3.9 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In July 2018 46 condos/townhomes sold in the Lake Norman area, a 24.3% increase from the 37 condos or townhomes sold in June 2018. July 2018 sales figures increased 9.5% from July 2017 when 42 Lake Norman condos sold.

The average sales price increased 23.4% from $216,871 in June to $267,557 in July. The July 2018 average sales price increased 11.4% from the July 2017 average sales price which was $240,202

Average days on the market increased 13.6% from 22 in June to 25 in July. The July 2017 average days on the market were 58, a 57% decrease in market time from one year ago.

Currently there are 72 active condo/townhome listings for sale in the Lake Norman MLS area, an 8.9% decrease from the 79 active condos for sale in July. The average list price is $382,749, up 1.6% from July’s average list price of $376,857. The average days on the market are 89. 67 Lake Norman condos/townhomes are currently under contract, a 5.6% decrease from July. Based on this months data we are currently in a sellers market, only 1.6 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In July 2018 26 lots sold in the Lake Norman area, a 5.6% decrease from the 28 lots sold in June 2018. July 2018 sales figures decreased 0% from July 2017 when 26 Lake Norman lots sold.

The average sales price increased 31.1% from $138,657 in June to $181,712 in July. The July 2018 average sales price decreased 32.8% from the July 2017 average sales price which was $270,542.

Average days on the market decreased 7% from 227 in June to 211 in July. The July 2017 average days on the market were 179, a 17.9% increase in market time versus the same time period last year.

Currently there are 570 active lot listings for sale in the Lake Norman MLS area, an increase of .7% from July. The average list price is $285,655, down 3.7% from July’s average list price of $296,712. The average days on the market are 494. 66 Lake Norman area lots are currently under contract, a 1.5% increase from July. Based on this data, 21.9 months of inventory, we are in a buyers market for Lake Norman lots & land.

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Lake Norman Waterfront Real Estate Update June 2018

Lake Norman Waterfront Real Estate Update June 2018

Lake Norman Waterfront Homes

In June 2018 62 waterfront homes sold in the Lake Norman area, a 24% increase from the 50 Lake Norman waterfront homes sold in May 2018. June 2018 Lake Norman waterfront home sales figures decreased 1.6% from June 2017 when 63 Lake Norman waterfront homes sold.

The average sales price decreased 14.3774% from $1,040,103 in May to $891,791 in June. The June 2018 average sales price increased 15.2% from the June 2017 average sales price which was $774,052.

Average days on the market increased from 84 in May to 90 in June, a 7% increase in market time. The June 2017 average days on the market were 124, a 27% decrease in market time.

Currently there are 304 active Lake Norman waterfront homes listed in the MLS, down 1.3% from June, with 106 also under contract, up 8.2% from June. The average list price is $1,167,027 down.4% from June’s average list price of $1,171,423. The lowest priced active Lake Norman waterfront home is listed at $215,000 and the highest priced Lake Norman waterfront home is listed at $7,450,000.

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Lake Norman Waterfront Condos & Townhomes

In June 2018 8 waterfront condos or townhomes sold in the Lake Norman area, a 33% decrease from the 12 Lake Norman waterfront condos sold in May 2018. June 2018 sales figures decreased 33% from June 2017 when 12 Lake Norman waterfront condos sold.

The average sales price decreased .09% from $270,742 in May to $270,500 in June. The June 2018 average sales price decreased 14.4% from the June 2017 average sales price which was $315,988.

Average days on the market decreased 22.2% from 36 in May to 44 days on the market in June. The June 2017 average days on the market were 65, a 32.3% decrease in market time from one year ago.

Currently there are 41 active Lake Norman waterfront condos listed in the MLS, a 14% increase in active inventory from June, with 15 also under contract, down 6.3% from June. The average list price is $381,271, down 1.2% from last months list price of $385,847. 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 $1,045,000.

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Lake Norman Waterfront Lots

In June 2018 9 waterfront lots sold in the Lake Norman area, an 80% increase from the 5 Lake Norman waterfront lots sold in May 2018. June 2018 sales figures decreased 44% from June 2017 when 16 Lake Norman waterfront lots sold.

The average sales price in June was $294,389, up 70% from the May average sales price which was $173,000. The June 2018 average sales price decreased 30% from the June 2017 average sales price of $418,438.

The average days on the market increased 92% from 158 days in May to 303 days on the market in June. Days on the market were up 171% from June 2017 when the average was 112 days on the market.

Currently there are 224 active Lake Norman waterfront lots listed in the MLS, down 3% from June, with 25 more under contract. The average list price is $498,332, down .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 $4,500,000.

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Lake Norman Real Estate Market Update June 2018

Lake Norman Real Estate Update June 2018

Lake Norman Homes

In June 2018 259 homes sold in the Lake Norman area,  a 18.8% increase from the 218 homes sold in May 2018. The June 2018 sales figures increased 9.7% from June 2017 when 236 homes sold in the Lake Norman real estate market.

The average sales price decreased 1.6% from $549,931 in May to $541,080 in June,. The June 2018 average sales price increased 12.2% from the June 2017 average sales price which was $482,218

Average days on the market increased .1% from 70 days on the market in May to 71 days on the market in June. The June 2017 average days on the market were 71, a 0% decrease in market time from last year.

Currently there are 865 active homes for sale in the Lake Norman MLS area, down 4.4% from June. The average list price is $752,855 up .4% from the June average list price of $750,200. The average days on the market are 151. 391 Lake Norman homes are currently under contract, up .5% from June. Based on this data we are currently in a sellers market, 3.3 months of inventory, in the Lake Norman real estate market.

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Lake Norman Condos & Townhomes

In June 2018 36 condos/townhomes sold in the Lake Norman area, a 16% increase from the 31 condos or townhomes sold in May 2018. June 2018 sales figures increased 2.9% from June 2017 when 35 Lake Norman condos sold.

The average sales price decreased 4.8% from $226,931 in May to $216,092 in June. The June 2018 average sales price decreased 7.7% from the June 2017 average sales price which was $234,100

Average days on the market decreased 8% from 25 in April to 23 in May. The May 2017 average days on the market were 43, a 46.5% decrease in market time from one year ago.

Currently there are 79 active condo/townhome listings for sale in the Lake Norman MLS area, a 4% increase from the 76 active condos for sale in June. The average list price is $376,857, down 3.2% from June’s average list price of $389,247. The average days on the market are 73. 71 Lake Norman condos/townhomes are currently under contract, a 1.4% increase from June. Based on this months data we are currently in a sellers market, only 2.2 months of inventory, in the Lake Norman condo market.

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Lake Norman Land & Lots

In June 2018 28 lots sold in the Lake Norman area, a 47% increase from the 19 lots sold in May 2018. June 2018 sales figures decreased 20% from June 2017 when 35 Lake Norman lots sold.

The average sales price increased 27.8% from $108,517 in May to $138,657 in June. The June 2018 average sales price decreased 36% from the June 2017 average sales price which was $216,606.

Average days on the market decreased 17% from 273 in May to 227 in June. The June 2017 average days on the market were 141, a 61% increase in market time versus the same time period last year.

Currently there are 566 active lot listings for sale in the Lake Norman MLS area, a decrease of 3.6% from June. The average list price is $296,212, down ..2% from June’s average list price of $296,791. The average days on the market are 492. 65 Lake Norman area lots are currently under contract, a 8.5% decrease from June. Based on this data, 20.2 months of inventory, we are in a buyers market for Lake Norman lots & land.

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